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ethereum co-founder Vitalik Buterin has released an updated roadmap for the network's plans in 2024.
Buterin shared the roadmap on December 30 in a series of posts on X, where he confirmed that it will only include minor changes from the previous year.
The six main approaches for ethereum (eth) in 2024, as described by Buterin, include the Merger, the Surge, the Plague, the Verge, the Purge, and the Surge.
The merger, an important element of the roadmap, aims to maintain a simple and robust approach. proof of stake (PoS) consensus. This element was highlighted in 2022 when it led to the integration of the ethereum mainnet and the Beacon Chain proof-of-stake blockchain.
After this integration, ethereum moved from an energy-intensive proof-of-work (PoW) consensus mechanism to PoS, which significantly reduced the network's overall energy consumption.
The roadmap also highlighted ethereum's focus on single-slot finality (SSF), a concept designed to ensure that changes to blocks in a blockchain cannot be reversed without burning at least 33% of the total. of eth staked.
Buterin also detailed how Scourge's priority would be more focused on combating economic centralization on ethereum, particularly as it relates to MEV and liquid stake pooling.
Buterin will make eth cypherpunk again
Recently, as crypto.news reported, Buterin shared plans to reintroduce the original principles of the “cypherpunk” revolution to blockchain.
ethereum's CEO originally envisioned the network as a decentralized, universally accessible hard drive that used peer-to-peer communication and file storage. However, starting in 2017, ethereum's focus began to shift toward financial applications, according to Buterin.
In the future, he hopes to revive the quintessential ideals of “cypherpunk,” such as decentralization, open participation, censorship resistance, and trustworthiness.
Buterin also noted that recent advances such as rollups, zero-knowledge proofs, account abstraction, and second-generation privacy solutions align well with ethereum's original values.
Despite minor setbacks and challenges, his updated 2024 vision for ethereum points toward an optimistic future, with analysts like Raoul Pal forecasting a possible eth price rise of as much as $5,300.
Will eth Price Soar in 2024?
From Pal's perspective, ethereum price is primed for a major uptrend. It is not a random prediction: Pal has based it on the liquidity indicator, a key tool that analysts take advantage of to forecast possible asset price changes.
While the Real Vision co-founder injected a note of caution, reminding cryptocurrency investors that their forecasts are not guaranteed, he showed an undeniable bullish outlook for ethereum.
Pal further noted the potential impact of exchange-traded funds (ETFs) on ethereum's progress. He posited that the introduction of a bitcoin spot ETF could lay the groundwork for an ethereum ETF, revitalizing the ethereum ecosystem in the process.
Pal's outlook was shared by analysts at CryptosRUs, who predicted an increase in eth growth starting in the first quarter of 2024.
According to analysts, eth's upward trajectory will be driven by factors such as positive market sentiment, eth and bitcoin (btc) seasonality, and the upcoming dencun improvement.
In November, IntoTheBlock reported that over 75% of ethereum addresses were profitable at a time when eth was priced at $2,200. The market intelligence platform also stated that only around 22.5% of ethereum addresses experienced unrealized losses, with around 1.17% breaking even.
ethereum network activity also saw significant increases: the number of new addresses on the network increased by approximately 17.5% and active addresses saw an increase of approximately 23%.
Additionally, ethereum addresses without eth balances are also up by around 74%, while the number of ethereum addresses with eth balances is on a steady upward trajectory.
Over the past 30 days, ethereum's average address count was approximately 102.72 million, more than double that of bitcoin.
