Ethereum
This Ethereum update is critical for the future, explains Vitalik Buterin
Arman Shirinian
Ethereum Could Be About to Get a Much-Needed Substantial Update
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Ethereum is gearing up for a major update that could make it more secure from potential threats posed by quantum computing. This update focuses on a new proposal called EIP-7702, presented by Vitalik Buterin. This proposal is an improvement over a previous one, resolving some specific technical issues related to signing processes that were considered limitations. Before.
However, one of the main topics of discussion within the community is the real threat posed by quantum computing. Some argue that quantum computing is often used as a scare tactic, without real solutions being proposed. For example, developer James Prestwich pointed out that if quantum computing truly posed an imminent threat, more drastic measures would be needed now. He suggests that talking about quantum computing without proposing concrete steps toward a solution is not very useful.
The risk that quantum computing poses to current encryption methods, such as those used in Ethereum, is significant. If quantum technology advances enough to break these methods, it could potentially put the entire system at risk. This is why there is an urgent need to move away from the current encryption standard, ECDSA, which is a fundamental security element in many Ethereum operations.
Vitalik Buterin has been proactive in addressing these concerns in the past. Since 2017, he has been developing codes for wallets resistant to quantum attacks, as evidenced by his public work on GitHub. Its approach includes focusing on advanced cryptographic methods, known as STARK protocols. These are considered a promising defense against quantum attacks. Buterin believes that the best solution is to continue refining these protocols and ensuring that each new development in Ethereum is compatible with a future where quantum resistance is necessary.
The EIP-7702 isn’t just about defending against quantum computing. It also introduces features such as signature aggregation, which could become more important as the technology evolves to meet new challenges. This proposal is part of a broader strategy to not only address immediate concerns, but also ensure that Ethereum remains secure and functional in the face of future technological advancements.
About the Author
Arman Shirinian
Arman Shirinyan is a trader, crypto enthusiast and SMM expert with over four years of experience.
Arman strongly believes that cryptocurrencies and blockchain will be of constant utility in the future. Currently, it focuses on news, articles with in-depth analysis of crypto projects and technical analysis of cryptocurrency trading pairs.