In theory, this eliminates the need to store the dead weight of Ethereums history.History vs state. State is like the countries record of who the citizens are. History is the citizen’s birth and death records.There will be a state expiry implementation.The core Idea is to simplify the past and remove the complexities of the code. Make it easier to run a node and debug.Removes gas stipends, precompiles, simplifies logs, removes RLP, and finds solutions for dust accounts.One may need to provide Merkle proofs to recover old data through more centralized services that have the historical data.

The Purge

Scalability increases for rollups through sharding. Rollups – computation and storage are off-chain, but data stays on-chain. This allows for cheaper transactions.Bandwidth will increase from 15-40 transactions per second (tps). Rollups will increase tps to 1500-4000 tps, rollups with sharding will increase to 100,000 tpsEventually, all activity will transition to Layer 2.If only the Merge and the Surge happen, Eth can last generations

The Surge

Blockchains are about creating new innovative ways to organize societies. NFTs are giving new business models to artists. He’s also stoked to see the increase of DAOsLayer 2 solutions are going from theory to practice.The Beacon chain proved itself and had its first hard fork. Testnets for “The Merge” is now available.Maximalism is something that is unhealthy. It’s important to check out other ecosystems.

Vitalik’s Thoughts on 2021

The entire space is based on decentralization and it’s Ethereum’s core value. . Ethereum started by compromising on scale, not decentralization. Other Layer 1s are trying the opposite.The roadmaps are not completely final, but if everything on this roadmap is done, Vitalik would be happy.Blockchains need to be cheap in order to foster main adoption

The Endgame

ZKsnark everything! The EVM, beacon chain transition, signature verification. This makes it extremely easy for everyone to run a node.Make smart contract wallets more like a first-class citizenProposer Builder Separation. (PBS)Account Abstraction

The Splurge

The Merge is the transition from Proof of Work to Proof of Stake (POS). No more miners.The test nets have been running and solutions have been found for foreseeable edge cases.The most important feature is enabling withdrawals for beacon chain validators after the post-merge hardfork. There will be a queue for withdrawal.The typical user will need to update their Metamask

The Merge

The implementation of Merkle trees that enable stateless clients.Stateless clients – don’t need the entire history of the blockchain to verify blocks. There will be proofs that verify the data. This allows validators to be much lighter, which is great for decentralization.It democratizes access to everybody to be able to verify the validity of the chain.

The Verge

Ethereum founder Vitalik Buterin returns to the podcast to discuss his recent article Endgame, as well as the massive year we observed in 2021. From the future of Ethereum to the rise of alternative Layer 1 platforms, it only makes sense to kick off 2022 by exploring how far we’ve come and figuring out where we’re headed. How far are we along on Ethereum’s roadmap? What challenges lie ahead? In a recent tweet, Vitalik posted a graphic of the updated progress of the Ethereum roadmap, and there are five throughlines that are progressing in parallel: • The Merge • The Surge • The Verge • The Purge • The Splurge We dive into what each of these means, as well as discuss what Ethereum will look like as these milestones are met. Holding this up against conversations of maximalism and alternative L1s, now is the time to start asking the big questions. ✨ WATCH THE DEBRIEF ✨ https://youtu.be/v__0GOC-XYE  ------ 📣 ONJUNO | Crypto from your Checking Account! https://bankless.cc/OnJuno  ------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/   🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/  ------ BANKLESS SPONSOR TOOLS: ⚖️ ARBITRUM | SCALING ETHEREUM https://bankless.cc/Arbitrum  🍵 MATCHA | SMART ORDER ROUTING https://bankless.cc/Matcha  🚀 SLINGSHOT | LAYER 2 SOCIAL TRADING https://bankless.cc/Slingshot  🏦 GEMINI | TURN FIAT INTO CRYPTO https://bankless.cc/Gemini  🦁 BRAVE | THE BROWSER NATIVE WALLET https://bankless.cc/Brave  🦄 UNISWAP | DECENTRALIZED FUNDING https://bankless.cc/UniGrants  ------ Topics Covered: 0:00 Intro 4:09 Debrief 7:27 Vitalik Returns after 2021 11:40 2021 Ethereum Milestones 16:33 Roadmap Progress 19:35 The Merge (Proof of Stake) 24:20 The Surge (Rollups & Sharding) 32:59 Life after Sharding 42:40 The Verge (Verkle Trees) 49:35 The Purge (History Expiry) 57:03 State Expiry & Snake 1:03:40 Snakes & States 1:08:20 The Splurge (Everything Else) 1:15:20 What Makes Vitalik Happy 1:20:17 Rise of Alt Layer 1s 1:26:03 Gas Costs & Decentralization 1:29:11 Maximalism 1:34:03 Endgame 1:40:16 Alt L1s and Rollups 1:44:02 Multi-Rollup World 1:49:21 The Ground Floor 1:53:56 Solving the World’s Problems 1:58:33 Closing & Disclaimers ------ Resources: VITALIK'S ARTICLES Endgame https://vitalik.ca/general/2021/12/06/endgame.html   The Limits to Blockchain Scalability https://vitalik.ca/general/2021/05/23/scaling.html   Verkle Trees https://vitalik.ca/general/2021/06/18/verkle.html   Pragmatic Destruction of Self-Destruct https://hackmd.io/@vbuterin/selfdestruct   Crypto Cities https://vitalik.ca/general/2021/10/31/cities.html   Legitimacy https://vitalik.ca/general/2021/03/23/legitimacy.html   Moving beyond coin voting governance https://vitalik.ca/general/2021/08/16/voting3.html  VITALIK ON BANKLESS Legitimacy https://shows.banklesshq.com/p/-legitimacy-vitalik-buterin Beyond Coin Voting https://shows.banklesshq.com/p/beyond-coin-voting-vitalik-buterin  Vitalik Speaks (Playlist) https://youtube.com/playlist?list=PLmkdAgtxf3agqnA5IieA7OkKBjlhx9mn- MISC. Roadmap Tweet  https://twitter.com/VitalikButerin/status/1466411377107558402?s=20   Merge Testnet https://kintsugi.themerge.dev/   ETH TPS https://ethtps.info/  ----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures

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Ethereum founder Vitalik Buterin returns to the podcast to discuss his recent article Endgame, as well as the massive year we observed in 2021. From the future of Ethereum to the rise of alternative Layer 1 platforms, it only makes sense to kick off 2022 by exploring how far we’ve come and figuring out where we’re headed. How far are we along on Ethereum’s roadmap? What challenges lie ahead? In a recent tweet, Vitalik posted a graphic of the updated progress of the Ethereum roadmap, and there are five throughlines that are progressing in parallel: • The Merge • The Surge • The Verge • The Purge • The Splurge We dive into what each of these means, as well as discuss what Ethereum will look like as these milestones are met. Holding this up against conversations of maximalism and alternative L1s, now is the time to start asking the big questions. ✨ WATCH THE DEBRIEF ✨ https://youtu.be/v__0GOC-XYE  ------ 📣 ONJUNO | Crypto from your Checking Account! https://bankless.cc/OnJuno  ------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/   🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/  ------ BANKLESS SPONSOR TOOLS: ⚖️ ARBITRUM | SCALING ETHEREUM https://bankless.cc/Arbitrum  🍵 MATCHA | SMART ORDER ROUTING https://bankless.cc/Matcha  🚀 SLINGSHOT | LAYER 2 SOCIAL TRADING https://bankless.cc/Slingshot  🏦 GEMINI | TURN FIAT INTO CRYPTO https://bankless.cc/Gemini  🦁 BRAVE | THE BROWSER NATIVE WALLET https://bankless.cc/Brave  🦄 UNISWAP | DECENTRALIZED FUNDING https://bankless.cc/UniGrants  ------ Topics Covered: 0:00 Intro 4:09 Debrief 7:27 Vitalik Returns after 2021 11:40 2021 Ethereum Milestones 16:33 Roadmap Progress 19:35 The Merge (Proof of Stake) 24:20 The Surge (Rollups & Sharding) 32:59 Life after Sharding 42:40 The Verge (Verkle Trees) 49:35 The Purge (History Expiry) 57:03 State Expiry & Snake 1:03:40 Snakes & States 1:08:20 The Splurge (Everything Else) 1:15:20 What Makes Vitalik Happy 1:20:17 Rise of Alt Layer 1s 1:26:03 Gas Costs & Decentralization 1:29:11 Maximalism 1:34:03 Endgame 1:40:16 Alt L1s and Rollups 1:44:02 Multi-Rollup World 1:49:21 The Ground Floor 1:53:56 Solving the World’s Problems 1:58:33 Closing & Disclaimers ------ Resources: VITALIK'S ARTICLES Endgame https://vitalik.ca/general/2021/12/06/endgame.html   The Limits to Blockchain Scalability https://vitalik.ca/general/2021/05/23/scaling.html   Verkle Trees https://vitalik.ca/general/2021/06/18/verkle.html   Pragmatic Destruction of Self-Destruct https://hackmd.io/@vbuterin/selfdestruct   Crypto Cities https://vitalik.ca/general/2021/10/31/cities.html   Legitimacy https://vitalik.ca/general/2021/03/23/legitimac

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