Ethereum co-founder Buterin has proposed a plan known as "The Splurge" to strengthen Ethereum's blockchain through a series of planned updates intended to oust all new threats, such as quantum computing.
Though quantum computers capable of disrupting current cryptographic standards are theoretical, Buterin views proactive measures as crucial to Ethereum's evolution. The Splurge emphasizes the development of cryptographic techniques, including lattice-based encryption, that may offer resilience against potential quantum attacks.
Buterin's "The Splurge" emphasizes the necessity of quantum-resistant algorithms to protect Ethereum against future encryption-breaking advancements. Quantum computing, if fully realized, could disrupt conventional cryptographic standards, potentially compromising blockchain security.
In response, Buterin advocates exploring lattice-based cryptography, among other alternatives, as a precautionary measure. By integrating quantum-resistant mechanisms early on, Ethereum aims to ensure its security regardless of future technological changes.
This forward-looking strategy is based on Buterin's notion that complex cryptographic answers must be incorporated into Ethereum for sustainability. He admits they are still in the realm of hypothetical quantum computers but considers getting ready for them to be a part of making Ethereum unassailable. The advances in cryptography that Ethereum plans to implement, as described in The Splurge, are designed to protect the user's data and transactions' integrity and strengthen the blockchain's protection against quantum looming threats.
Another core component of The Splurge is the Ethereum Virtual Machine (EVM) enhancement. Scheduled for Ethereum's upcoming "Pectra" upgrade, the EVM Object Format (EOF) introduces a structured framework separating code from data to make intelligent contract processing more efficient, especially on layer-2 solutions.
This update also prepares the EVM for additional upgrades, including modular arithmetic and single-instruction-multiple-data (SIMD) capabilities, which will streamline cryptographic tasks and support a broader range of cryptographic algorithms.
Buterin's proposed upgrades also include redesigning Ethereum's transaction fee structure through "multidimensional gas." Ethereum's fee system is based on a base fee model but doesn't account for different resource requirements. Multidimensional gas would allow fees to vary based on resource use, such as storage or data expansion, offering more precise costs that reflect network demand. This could alleviate transaction fees during periods of high activity and optimize network performance by reducing congestion.
The Splurge also seeks to expand user interactions through account abstraction, a feature allowing smart contracts to handle transaction initiation and validation. Account abstraction could make Ethereum more versatile by enabling transaction verifications beyond the current elliptic curve signatures, thereby integrating quantum-resistant algorithms into Ethereum's operations.
EIP-7701, included in the Pectra update, will support account abstraction. It will allow users to pay transaction fees in ERC-20 tokens, enhancing user flexibility and streamlining transactions.
However, update-wise, The Splurge also seeks to decentralize Ethereum's staking by proving congestion concerns due to staking centralization. Overall, Ethereum aims to increase the number of participants in the network by reducing the staking requirement to 32 ETH. This, coupled with cryptographic protections to secure block proposer identities, reflects Buterin's dedication to a more accessible and secure staking model.