Revolutionizing Ethereum and Polkadot: Efficient Verification of … – Crypto News Flash
Source: Wit Olszweski - Shutterstock
The Ethereum (ETH) core developers have undertaken a lot of research to ensure safe scalability through zero-knowledge protocols. Moreover, zero-knowledge proofs can be used to generate cryptographic proofs that some computation has been performed outside of a blockchain in accordance with predefined rules. Nevertheless, countless protocols have come up with different technicalities for solving the zero-knowledge scaling solution.
However, it is the Casper the Friendly Finality Gadget (Casper FFG) that was jointly published by Ethereum core developer Vitalik Buterin and Virgil Griffith in 2017 that developer Seun Lanlege alias Web3 Philosopher on Twitter (@seunlanlege) presented research for a scaling protocol.
In the research article, the Polkadot and Ethereum developer presented a SNARK-based approach for verifying Ethereums Casper FFG consensus proofs. Notably, the SNARK-based scaling solution is famous among many layer two protocols since it uses a non-interactive smaller proof than the data it represents.
Although the Casper FFG uses a rather simple consensus mechanism, its proof of security has been described as rather difficult than normal. Moreover, Casper FFG is a Practical Byzantine Fault Tolerance (PBFT) inspired and improved consensus protocol. The Ethereum core developers argue in this direction since PBFT is characterized by a two-round voting mechanism that is permissionless, leader-based, and security-oriented.
Follow us for the latest crypto news!
According to Buterin, the key goal of Casper is to achieve economic finality.
Economic finality is accomplished in Casper by requiring validators to submit deposits to participate, and taking away their deposits if the protocol determines that they acted in some way that violates some set of rules (slashing conditions), Buterin noted in a Medium post.
Notably, the Ethereum beacon chain has significantly grown since the Merge event last year and currently has more than 18.3 million ether staked by more than 576k validators. With the SNARK-based scheme for verifying the Ethereums Casper FFG consensus proofs introduced by Seun Lanlege, both on and off-chain light clients can benefit from the crypto economic security provided by the ETH 17m ($34b) at stake.
This protocol offers full node-level security that is orders of magnitude more secure than the sync committee, and is fully Byzantine fault-tolerant, Lanlege noted.
Notably, Lanlege presented a detailed mathematical proof expression to show that the protocol is a more ambitious approach to directly verifying the Casper FFG consensus proofs.
The Ethereum network has one of the most comprehensive interdisciplinary professionals working together including economists, computer scientists, and philosophers among others. As a result, the Ethereum network has scaled to one of the leading smart contract ecosystems for building scalable, and secure decentralized applications.
According to the latest crypto prices, the Ethereum (ETH) network has a total market capitalization of approximately $217.45 billion with a 24-hour traded volume of about $6.042 billion. Trading around $1,808 on Friday, Ethereums price was up approximately 50 percent YTD despite a 13 percent drop in the past month.
Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.
Read more from the original source:
Revolutionizing Ethereum and Polkadot: Efficient Verification of ... - Crypto News Flash
- Vitalik Buterin praises Starknet: the new version revolutionizes the efficiency of Ethereum - The Cryptonomist - November 23rd, 2024 [November 23rd, 2024]
- Vitalik Buterin on Ethereum's Latency and Decentralization Challenges - Blockchain.News - November 23rd, 2024 [November 23rd, 2024]
- Vitalik Buterin Highlights Importance of Data Efficiency in Ethereum Scaling - Blockchain.News - November 23rd, 2024 [November 23rd, 2024]
- Vitalik Buterin Emphasizes the Importance of Decentralization and Practicality - Blockchain.News - November 23rd, 2024 [November 23rd, 2024]
- Vitalik Buterin explores info finance concept for Ethereum-based prediction markets - DLNews - November 14th, 2024 [November 14th, 2024]
- Vitalik Buterin: The man who co-created Ethereum - Cointelegraph - November 14th, 2024 [November 14th, 2024]
- Vitalik Buterin Is Preparing An Ambitious Crypto Project That Could Overshadow Polymarket. - Cointribune EN - November 14th, 2024 [November 14th, 2024]
- Vitalik Buterin Spoke at Devcon 2024 Recalling the Role and Progress of Ethereum - Bitcoinsensus - November 14th, 2024 [November 14th, 2024]
- Its Time to Go Beyond Just Predicting Elections on Polymarket: Vitalik Buterin Challenges Prediction Markets - DailyCoin - November 14th, 2024 [November 14th, 2024]
- Shiba Inu Lead and Ethereums Vitalik Buterin: Is a 10-Minute Conversation Coming - The Crypto Basic - November 8th, 2024 [November 8th, 2024]
- Heres How Shiba Inu Can Reach $0.01 if Ethereum Founder Vitalik Buterin Considers This Move - The Crypto Basic - November 8th, 2024 [November 8th, 2024]
- Vitalik Buterin deposits 2.09M STRK on Binance, realizing a $714K loss - MSN - November 8th, 2024 [November 8th, 2024]
- Shiba Inu Lead Aims to Impress Ethereums Vitalik Buterin with SHIBs Potential - Crypto News Flash - November 8th, 2024 [November 8th, 2024]
- The Crypto Genius You Won't Believe Exists. Discover Vitalik Buterin! - Bit Perfect Solutions - November 8th, 2024 [November 8th, 2024]
- Shiba Inu Lead Seeks to Showcase SHIB Potential to Ethereum Vitalik Buterin - The Crypto Basic - November 2nd, 2024 [November 2nd, 2024]
- Ethereum Founder Vitalik Buterin: 'The Splurge' Seeks to Bring the EVM to an 'Endgame State' - Bitcoin.com News - November 2nd, 2024 [November 2nd, 2024]
- Vitalik Buterin sets sights on multidimensional Ethereum gas with focus on The Splurge - CryptoSlate - November 2nd, 2024 [November 2nd, 2024]
- Vitalik Buterin Proposes Solution to Shrink Ethereums 1.1 TB Node Size - CCN.com - November 2nd, 2024 [November 2nd, 2024]
- Whales Dive In: Vitalik Buterin Launches "The Splurge" Phase for Ethereum! - TOKENPOST - November 2nd, 2024 [November 2nd, 2024]
- Vitalik Buterin on The Splurge: Exploring Ethereums Future - Altcoin Buzz - November 2nd, 2024 [November 2nd, 2024]
- Ethereum Founder Vitalik Buterin Donates Over $1 Million to Ukrainian Humanitarian Non-Profits - Bitcoin.com News - November 2nd, 2024 [November 2nd, 2024]
- Vitalik Buterin Responds to Ethereum Foundations Growing ETH Sales - The Crypto Basic - November 2nd, 2024 [November 2nd, 2024]
- Vitalik Buterin, on The Verge: Exploring Ethereums Future - Altcoin Buzz - November 2nd, 2024 [November 2nd, 2024]
- Vitalik Buterin Clarifies Why the Ethereum Foundation Sells ETH - CryptoPotato - November 2nd, 2024 [November 2nd, 2024]
- Vitalik Buterin Eyes Fresh Ethereum Bull Run With New Network Update - The Crypto Basic - November 2nd, 2024 [November 2nd, 2024]
- Vitalik Buterin on The Purge: Exploring Ethereums Future - Altcoin Buzz - November 2nd, 2024 [November 2nd, 2024]
- Ethereum Price Forecast: ETH eyes rally as Vitalik Buterin unveils The Splurge - FXStreet - November 2nd, 2024 [November 2nd, 2024]
- Ethereum Price Gains 5.5% As Vitalik Buterin Unveils The Splurge Update - CoinGape - November 2nd, 2024 [November 2nd, 2024]
- Vitalik Buterin Calls out Ethereum Foundation Critics'Show Some Respect' - Bitcoin.com News - October 28th, 2024 [October 28th, 2024]
- Vitalik Buterin says The Purge can help reduce Ethereums complexity and storage requirements - CryptoSlate - October 28th, 2024 [October 28th, 2024]
- Vitalik Buterin Shares Plan to Reduce Ethereums Bloat and Complexity - DailyCoin - October 28th, 2024 [October 28th, 2024]
- Vitalik Buterin Introduces The Purge to Tackle Ethereums Data and Storage Challenges - BeInCrypto - October 28th, 2024 [October 28th, 2024]
- Vitalik Buterin Highlights EVM Verification Roadmap with RISC-V - Blockchain.News - October 28th, 2024 [October 28th, 2024]
- Vitalik Buterin Responds Harshly to Allegations of Selling ETH and Dumping the Price - CoinMarketCap - October 28th, 2024 [October 28th, 2024]
- Vitalik Buterin Reveals True Ethereum (ETH) Philosophy By U.Today - Investing.com Canada - October 28th, 2024 [October 28th, 2024]
- Vitalik Buterin Comments On Kyber Network Token Choice - Binance - October 28th, 2024 [October 28th, 2024]
- Vitalik Buterin Warns Current Ethereum Staking Model Is a Threat to Its Future - CCN.com - October 26th, 2024 [October 26th, 2024]
- Vitalik Buterin Shares The Verge: A Game-Changer for Ethereum? - Crypto Times - October 26th, 2024 [October 26th, 2024]
- Vitalik Buterin Unveils Ethereums Verge Upgrade Aiming To Democratize Blockchain Verification - Yahoo Finance - October 26th, 2024 [October 26th, 2024]
- Ethereums The Verge Update from Co-Founder Vitalik Buterin: What It Means for ETH Price Recovery - Crypto News Flash - October 26th, 2024 [October 26th, 2024]
- Vitalik Buterin Posts Part 4 Of His Plans For Ethereum: Blocks To Be Verified On A Smart Watch? - 99Bitcoins - October 26th, 2024 [October 26th, 2024]
- Vitalik Buterin Thinks Michael Saylors Recent Comments On Regulated Bitcoin Custody Are Batshit Insane - ZyCrypto - October 26th, 2024 [October 26th, 2024]
- Vitalik Buterin shares vision for Ethereum: Our goal is to achieve - AMBCrypto News - October 26th, 2024 [October 26th, 2024]
- Vitalik Buterin Continues on Ethereums Future: The Scourge - Altcoin Buzz - October 26th, 2024 [October 26th, 2024]
- Vitalik Buterin: The Scourge to Address Ethereum's Proof-of-Stake Centralization Risks - Decrypt - October 26th, 2024 [October 26th, 2024]
- Vitalik Buterin Talked about The Surge: Ethereums Future - Altcoin Buzz - October 26th, 2024 [October 26th, 2024]
- Vitalik Buterin Discusses Ethereum's Future: The Verge - Blockchain.News - October 26th, 2024 [October 26th, 2024]
- Vitalik Buterin on why Ethereum centralization is a problem: Higher risk of - AMBCrypto News - October 26th, 2024 [October 26th, 2024]
- Vitalik Buterin Proposes Solutions to Ethereum Staking Centralization Issues - The Shib Daily - October 26th, 2024 [October 26th, 2024]
- Vitalik Buterin Reveals The Major Priorities Of Ethereum For Shanghai 2024 - Cointribune EN - October 26th, 2024 [October 26th, 2024]
- SHIB Burns 324 Million Tokens in One Week, XRP Ledger Sees Huge Spike in Active Wallets, Vitalik Buterin Unveils Four Major Milestones for Ethereum:... - October 26th, 2024 [October 26th, 2024]
- Vitalik Buterin Proposes Selective Gas Fee Reductions for Ethereum - Binance - October 26th, 2024 [October 26th, 2024]
- Vitalik Buterin lays down roadmap to minimize centralization risk in Ethereum POS design - CryptoSlate - October 21st, 2024 [October 21st, 2024]
- Ethereum Co-Founder Vitalik Buterin Says 'Baptisms Of Fire' In Cryptocurrency Will Catalyze Growth For Bitcoin And Other Digital Assets - Benzinga - October 21st, 2024 [October 21st, 2024]
- Vitalik Buterin calls staking centralization 'one of the biggest risks' to Ethereum in 'Scourge' outline - The Block - October 21st, 2024 [October 21st, 2024]
- Vitalik Buterin Warns of Ethereum Centralization Risks, Suggests Staking Cap Review - Crypto News Flash - October 21st, 2024 [October 21st, 2024]
- Ethereum, L2s to reach over 100K TPS with the 'Surge Vitalik Buterin - Cointelegraph - October 21st, 2024 [October 21st, 2024]
- Vitalik Buterin on Ethereums Staking, Block Production Issues - CryptoNewsZ - October 21st, 2024 [October 21st, 2024]
- Vitalik Buterin Unveils Ambitious Plan for Ethereum's Future: Faster Transactions and 1 ETH Staking - Brave New Coin Insights - October 21st, 2024 [October 21st, 2024]
- Vitalik Buterin Calls for Decentralisation of Proof-of-Stake as Ethereum Faces Biggest Risk - Crypto News Australia - October 21st, 2024 [October 21st, 2024]
- Ethereums Key Goal for The Surge Is 100,000 TPS: Vitalik Buterin - Unchained - October 21st, 2024 [October 21st, 2024]
- Expert Says Ethereum Price Is Ready As Vitalik Buterin Confirms ETHs Future - CoinGape - October 21st, 2024 [October 21st, 2024]
- Vitalik Buterin: The Surge to Boost Ethereum Over 100,000 TPS - CryptoTvplus - October 21st, 2024 [October 21st, 2024]
- Vitalik Buterin Reveals Ethereums "The Surge" Roadmap - Bitcoinsensus - October 21st, 2024 [October 21st, 2024]
- Vitalik Buterin Lays Out Ethereum Layer-2 Expansion in The Surge Roadmap - BeInCrypto - October 21st, 2024 [October 21st, 2024]
- Vitalik Buterin shares glimpse for the Future of Ethereum - Crypto Times - October 21st, 2024 [October 21st, 2024]
- Vitalik Buterin outlines possible areas of improvement for Ethereum - The Block - October 21st, 2024 [October 21st, 2024]
- Vitalik Buterin Wants Ethereum to Hit 100K Transaction Per Second With Rollups - MSN - October 21st, 2024 [October 21st, 2024]
- Vitalik Buterin Unveils The Surge Roadmap for Ethereums Future Scalability and Layer-2 Integration - Bybit Learn - October 21st, 2024 [October 21st, 2024]
- Speedy Ethereum Upgrades Proposed By Vitalik Buterin - CryptoCoin.News - October 21st, 2024 [October 21st, 2024]
- Vitalik Buterin: the L2 of Ethereum will exceed 100,000 TPS thanks to Surge - The Cryptonomist - October 21st, 2024 [October 21st, 2024]
- Vitalik Buterin Proposes Ethereum Validator Threshold To Be Lowered From 32 ETH to 1 ETH - CoinMarketCap - October 21st, 2024 [October 21st, 2024]
- Ethereum Ready To Explode? Vitalik Buterin's Vision For 100,000 Transactions Per Second - Cointribune EN - October 21st, 2024 [October 21st, 2024]
- Ethereum, L2s to reach over 100K TPS with The Surge Vitalik Buterin - MSN - October 21st, 2024 [October 21st, 2024]
- Vitalik Buterin Unveils Ambitious Plans for Ethereum Layer 2 Expansion With The Surge Roadmap - Changelly - October 21st, 2024 [October 21st, 2024]
- Vitalik Buterin Shares New Proposition For Ethereums The Merge - The Coin Republic - October 21st, 2024 [October 21st, 2024]
- Vitalik Buterin Argues for Balancing Decentralization and Cooperation in Ethereum Ecosystem - The Daily Hodl - October 3rd, 2024 [October 3rd, 2024]
- Vitalik Buterin: the key to Ethereum is decentralization - The Cryptonomist - October 3rd, 2024 [October 3rd, 2024]
- Ethereum Creator Vitalik Buterin Says He Supports the Existence of Betting Platform Polymarket Heres Why - The Daily Hodl - October 3rd, 2024 [October 3rd, 2024]
- TOKEN2049: Vitalik Buterin says cryptos early days are over, so whats next for the sector? - Vulcan Post - October 3rd, 2024 [October 3rd, 2024]