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 Projects Ethereum Pectra Upgrade In March Heres More - ZyCrypto - February 5th, 2025 [February 5th, 2025]
- Vitalik Buterin Reveals Bitcoin Holds Less Than 10% of His Portfolio - Coinpedia Fintech News - February 5th, 2025 [February 5th, 2025]
- Ethereum L1 Scaling Developments Highlighted by Vitalik Buterin - Blockchain.News - February 5th, 2025 [February 5th, 2025]
- Vitalik Buterin Rejects Bitcoin Allocation Rule, Stays Committed to Ethereum - CryptoPotato - February 5th, 2025 [February 5th, 2025]
- I Turned a $12,500 Investment in DOGE into $4.3M, Vitalik Buterin Says - CoinMarketCap - February 5th, 2025 [February 5th, 2025]
- Ethereum Foundation undergoes leadership restructuring, targeting enhanced technical expertise and ecosystem communication: Vitalik Buterin - Crypto... - January 19th, 2025 [January 19th, 2025]
- Vitalik Buterin Says Sony's Controversial L2 Shows Why Ethereum Is Great for Business - Decrypt - January 19th, 2025 [January 19th, 2025]
- Vitalik Buterin announces big changes to Ethereum Foundation leadership - MSN - January 19th, 2025 [January 19th, 2025]
- Paul CHAN Mo-po, Vitalik Buterin Among the Top Speakers at Hong Kong Web3 Festival 2025 Press release Bitcoin News - Bitcoin.com News - January 19th, 2025 [January 19th, 2025]
- Sonys Soneium Shakes Ethereum L2: Why Vitalik Buterin Thinks Its a Win - The Coin Republic - January 19th, 2025 [January 19th, 2025]
- Changpeng Zhao and Vitalik Buterin Focus on 'DeSci'... Will It Attract Crypto Investment? - - January 19th, 2025 [January 19th, 2025]
- Vitalik Buterin Announces Leadership Overhaul at Ethereum Foundation Amid Growing Concerns - HPBL - January 19th, 2025 [January 19th, 2025]
- Ethereum Creator Vitalik Buterin Donates $340,000 in ETH to Tornado Cash Developer Alexey Pertsev - The Daily Hodl - January 3rd, 2025 [January 3rd, 2025]
- Vitalik Buterin calls out Elon Musk on free speech and banhammer threat - Cointelegraph - January 1st, 2025 [January 1st, 2025]
- Vitalik Buterin Praises WeChat's Account Recovery Feature - Blockchain.News - January 1st, 2025 [January 1st, 2025]
- 10m Thai Baht donated by Vitalik Buterin to support Khao Kheow Open Zoo - crypto.news - January 1st, 2025 [January 1st, 2025]
- Ethereums Vitalik Buterin Adopts Moo Deng the Hippo with $292K Donations to Thai Wildlife Charity - Brave New Coin Insights - January 1st, 2025 [January 1st, 2025]
- Vitalik Buterin Shares Insightful Image Related to Ethereum - Blockchain.News - January 1st, 2025 [January 1st, 2025]
- Vitalik Buterin's Productive Day and Potential Insights for Ethereum Enthusiasts - Blockchain.News - January 1st, 2025 [January 1st, 2025]
- Vitalik Buterin Discusses Technical Issues and Software Exploration - Blockchain.News - January 1st, 2025 [January 1st, 2025]
- Vitalik Buterin Once Listed as Media Contact on Ethereum Website - Blockchain.News - January 1st, 2025 [January 1st, 2025]
- Discussion on Historical Significance of 1975-99 by Vitalik Buterin - Blockchain.News - January 1st, 2025 [January 1st, 2025]
- Vitalik Buterin Advocates for Social Incentives in Jury Nominations - Blockchain.News - January 1st, 2025 [January 1st, 2025]
- Vitalik Buterin Makes Big Crypto Donation as 'Adoptive Father' - U.Today - January 1st, 2025 [January 1st, 2025]
- Vitalik Buterin-Linked Address Donates ETH to JuiceBox and Another Wallet - Blockchain.News - January 1st, 2025 [January 1st, 2025]
- Vitalik Buterin Adopts Moo Deng, Thailands Beloved Baby Hippo, with $290,000 Donation - Blockhead - January 1st, 2025 [January 1st, 2025]
- Vitalik Buterin Donates to Thai Wildlife Charity on Behalf of ETH Community - Cryptonews - January 1st, 2025 [January 1st, 2025]
- 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]