Ethereum founder Vitalik Buterin has stepped up calls for a simpler, more secure network.
On Wednesday March 18, he reiterated that, thanks to the “Lean Ethereum” plan, the chain will no longer be forced to trade between security and speed like other blockchains.
Most “semi-centralized fast chains” choose (ii) only, PoW chains choose (i) only, Ethereum gets both.
The Lean Ethereum roadmap is an ambitious long-term strategy to simplify network design, speed up transaction settlement, and make it easier to execute on simple devices like smartphones.
Ultimately, Buterin wants smartphones to become the new nodes of the network.
This would mean merging the current, separately running runtime and beacon clients that power the Ethereum network into a unified system. While critics had watch Despite his reservations about this vision and its inherent security risks, Buterin believes otherwise.
For him, this would be the only way to have a “faster” chain like Solana while maintaining Bitcoin-like security.
But the plan goes beyond just a simplified system and advanced security.
The new “constitution” of Ethereum
Last week, the Ethereum Foundation revealed a strategic document he called “part manifesto, part constitution” to guide his long-term vision and planning.
At the heart of this roadmap is a new philosophy called CROPS (censorship-resistant, open source, private and secure) that will anchor all future network plans and upgrades.
The end goal is to ensure that Ethereum preserves user freedom and can survive even if the Ethereum Foundation ceases to exist.
Like everything else, these updates have been met with divergent views. Supporters see this as a way to strengthen Ethereum as a leader in decentralized networks and a net positive for ETH. However, critics say potential security risks and inconsistent roadmaps make it difficult to bet on ETH.
Only time will tell which side was right.
What’s next for ETH?
Meanwhile, Max Shannon, Bitwise Research Analyst find that Bitcoin momentum determines ETH price movements far more than macroeconomic factors, demand from treasury companies, or Spot ETH ETF flows.
In fact, the recent 5% BTC price drop triggered by de-risking ahead of the Fed’s rate decision has been extended. ETH lower too.
With most of the mobilized liquidity falling short of price action, the long squeeze could take ETH to $2,213 or $2,154, with a larger pool at $2,053. At the time of writing, the altcoin fell 6% from near $2.4k to $2.2k.
Final summary
- Buterin now believes that a simplified and lean Ethereum could help it achieve Solana-like speed while providing Bitcoin-like security.
- After a recent rally to near $2,400, ETH gave back some of the gains as traders reduced their risks ahead of the Fed’s rate decision.
