Let Ethereum face the future, expectations for the Ethereum roadmap in 2024

Original Title: "Making Ethereum Future Proof: What to Expect from the Ethereum Roadmap in 2024"

Original Author: FRANCESCO

Original Compilation: Luccy, BlockBeats

Editor's Note:

On December 31, Vitalik Buterin published an article updating the Ethereum roadmap, stating that as Ethereum's technical path continues to solidify, changes are relatively few. This includes: 1. The Merge: The role of single-slot finality (SSF) in the post-Merge PoS improvements is being solidified; 2. The Surge: Significant progress has been made in Surge (rollup scaling), whether through EIP-4844 or the rollup itself; 3. The Scourge: After a certain degree of redesign, the current focus is on combating economic centralization in PoS in two key areas: (i) MEV, (ii) general staking pool issues; 4. The Verge: Significant progress has been made; 5. The Purge: "State expiry" has been narrowed to reflect broad consensus; 6. The Splurge: Due to cryptographic weaknesses in the existing structure, VDF has been narrowed to reflect a temporarily reduced focus.

In response, the Ethereum community has engaged in intense discussions regarding the Ethereum roadmap. Crypto researcher FRANCESCO delves into the ERCs and EIPs he is concerned about and analyzes the advantages of each proposal. He believes that although Ethereum's development is generally considered slow and controlled to prioritize security, Ethereum has not remained stagnant, with the implementation of ERC-4337, EIP-4844, EIP-3074, and EIP-5003 playing a crucial role in this evolutionary journey. BlockBeats compiles the original text as follows:

I have never seen so much anti-Ethereum propaganda on my Twitter timeline.

Every other day, a new Layer 1 is questioned as a "Ethereum killer," yet Ethereum seems oblivious, still focused on its own development and improvement.

This commitment to progress is evident in the recently announced Ethereum roadmap for 2024, which highlights several key developments aimed at enhancing scalability and user experience.

Among them, a date has finally been set for EIP-4844, which will make it easier for Layer 2 to publish data on Ethereum.

Despite the intense competition, these new ERCs and EIPs aim to significantly improve Ethereum's scalability and user experience.

Let’s take a closer look at these exciting updates, including ERC-4337, EIP-4844, EIP-3074, and EIP-5003.

ERC-4337: Revolutionizing Smart Contract Wallets

The introduction of the ERC-4337 standard marks a significant leap in the evolution of smart contract wallets. This improvement introduces a new concept called "account abstraction."

ERC-4337 is an account abstraction proposal that completely avoids the need to change the consensus layer protocol. Unlike adding new protocol features and changing the underlying transaction types, this proposal introduces a higher-level pseudo-transaction object called UserOperation.

For more information about ERC-4337, see here.

Traditionally, Ethereum accounts are divided into externally owned accounts (EOAs) and smart contract accounts. However, EOAs often pose challenges in terms of usability and security. ERC-4337 blurs these boundaries, allowing users to interact with smart contracts more intuitively.

The way users interact with Ethereum needs to adapt to an increasingly complex landscape. We have already witnessed the emergence of account abstraction-based solutions, such as Creso Wallet and Avocado Wallet.

The introduction of ERC-4337 will bring a range of improvements to wallet design while reducing complexity for end users.

In addition, ERC-4337 greatly enhances the end-user experience while opening up new possibilities, such as gasless transactions, social logins, and password recovery.

Key Features of ERC-4337 Include:

• Enhanced Security: By integrating more complex logic into wallets, users can set conditions for transactions, such as multi-factor authentication or daily spending limits.

• User-Friendly: Simplifies interactions for non-technical users, making the Ethereum ecosystem more accessible.

• Token Payment for Gas Fees: Users may be able to pay transaction fees with tokens other than ETH, adding a layer of convenience.

EIP-4844: Enhancing Layer 2 Efficiency

Why EIP-4844 is needed: To provide a cheap data publishing venue for Layer 2 solutions on Ethereum and significantly reduce the overall transaction fees users pay on Layer 2.

Problem: Layer 2 generates an increasing amount of data. If there were a cheap way to publish this data, it would immediately reduce the amount the network charges users for transaction fees.

Solution: A new transaction format called "transactions carrying blob data" has been introduced. It contains a large amount of "data that cannot be accessed through EVM execution but can be promised to be accessed." Unlike embedding the full content in the body, the content of the blob is propagated separately as a "bypass."

EIP-4844, commonly referred to as "proto-danksharding," is an important step in addressing Ethereum's scalability issues. It introduces a new transaction type that allows "shard blobs" to exist, which can be used by Layer 2 solutions (such as rollups) as temporary data.

EIP-4844 introduces a new transaction type that accepts "blobs" data for temporary storage in beacon nodes.

Unlike transactions included in Ethereum blocks that are executed, shard blocks only contain "data blobs," with Layer 2 responsible for utilizing that data space to create a more secure and scalable experience for its users.

The significance of EIP-4844 lies in its value permeating to users, as we will all be able to enjoy lower Layer 2 fees.

Why Will Layer 2 Fees Be Lower?

EIP-4844 separates the costs of transaction computation and storage.

Layer 2 will submit "data blobs" to Ethereum using different functions.

They will use blobs instead of "CALLDATA," which permanently stores data, and these blobs will be pruned after a predefined period.

The data blobs do not need to be permanently available but can be available for a certain period (e.g., 1-3 months), long enough to ensure that Layer 2 has at least one honest participant to rebuild the state and challenge or replace bad sequencers. Then the data will be pruned.

EIP-4844 provides significant scaling relief by allowing rollups to initially scale to 0.25 MB per slot while providing a separate fee market for blobs, making fees very low.

Read: Transactions will be 10 times cheaper.

Potential Impacts of EIP-4844 Include

• Reduced Costs for Layer 2: By lowering data costs, Layer 2 solutions become more economical, encouraging broader adoption.

• Increased Transaction Throughput: This can lead to a more scalable network capable of handling more transactions per second.

• Enhanced User Experience: With transactions being faster and cheaper, the overall user experience on Ethereum is significantly improved.

EIP-3074: Optimizing Transaction Processes

EIP-3074 is a new fundamental element that will bring a smoother user experience to Ethereum without additional trust assumptions.

EIP-3074 introduces a fundamental change in how Ethereum transactions are authorized and executed. This proposal allows users to authorize third parties to execute transactions on their behalf using a new operation type.

EIP-3074 aims to update Ethereum's EOAs to delegate control to smart contracts, enabling smart contracts to approve transactions originating from user accounts.

In practice, EIP-3074 will allow complex operations to be executed with a single signature without multiple approvals, greatly improving user experience while enabling seamless execution of complex operations.

End users will be able to send batch transactions, expiration transactions, and more.

For more information about EIP-3074.

However, for all this to work, the Ethereum protocol needs to be modified to introduce two new EVM "opcodes": AUTH and AUTHCALL.

Therefore, EIP-3074 is often viewed less favorably compared to other account abstraction proposals (such as EIP-4337).

Learn more about concerns regarding this EIP.

Nevertheless, EIP-3074 will introduce new use cases, such as:

• Smart Contract Wallets: With wallet recovery solutions, you will never lose funds again.

• Batch Transactions: Save on gas fees.

• Automation: Automatically execute transactions through smart contract accounts.

Advantages of EIP-3074 Include:

• Simplified User Interaction: Especially beneficial for complex DApp interactions, reducing user steps and gas costs.

• Increased Developer Flexibility: This enables more creative and efficient smart contract designs.

• Potential Security Enhancements: While introducing new security considerations, it also provides opportunities for more robust security mechanisms.

EIP-5003: Optimizing Network Resources

This proposal pairs well with EIP-3074, which provides the "opcode" for delegating signing authority from EOAs to smart contracts.

While EIP-3074 authorizes smart contracts, EIP-5003 completely migrates the signing keys of Ethereum EOA accounts to smart contract accounts.

Using only the limited capabilities of EIP-3074 will create new attack vectors in delegating authority to smart contracts.

Although EIP-5003 has received less publicity, it plays a critical role in enhancing the efficiency and security of the Ethereum network.

Expected Advantages of EIP-5003 Include:

• Increased Security: This EIP, in conjunction with EIP-3074, addresses its shortcomings and ensures that there are no new attack vectors from the migration of account abstraction.

• Migration Away from EOAs: This EIP represents the final migration away from EOAs.

Conclusion: A Future-Proof Ethereum

Although its development is generally considered slow and controlled to prioritize security, Ethereum has not remained stagnant. It is incorrect to observe and assess its technology solely based on its appearance at a specific moment, as it is always evolving and improving.

In particular, Ethereum's 2024 roadmap showcases a clear vision for the future, committed to addressing key areas such as scalability, security, accessibility, and usability, ensuring the network remains future-proof.

It emphasizes redefining how users interact with Ethereum, shifting from EOA accounts to more flexible smart contract wallets.

The implementation of ERC-4337, EIP-4844, EIP-3074, and EIP-5003 plays a crucial role in this evolutionary journey:

• ERC-4337 fundamentally reforms smart contract wallets through account abstraction, providing enhanced security and user-friendliness. This standard is expected to significantly simplify the user experience and broaden accessibility to the Ethereum ecosystem.

• EIP-4844, also known as "proto-danksharding," is a breakthrough in reducing costs and improving the efficiency of Layer 2 solutions. By introducing a new transaction format for carrying blobs, it promises to lower transaction fees and increase throughput, enabling end users to enjoy more affordable and faster transactions.

• EIP-3074 and EIP-5003 together represent an important step in simplifying transactions and optimizing network resources. While EIP-3074 introduces new operational capabilities for authorized transactions, EIP-5003 complements it by transitioning signing authority from externally owned accounts (EOAs) to smart contract accounts, enhancing the network's security and efficiency.

As Ethereum continues to innovate and improve, it will strive to maintain its position in a competitive landscape.

The main purpose of this article is to inspire readers to view Ethereum as a continuously evolving and developing network rather than a static one, actively working to combat emerging technologies and alternatives to ensure future sustainability.

We will continue to monitor the implementation of EIPs and Ethereum's evolution throughout this year.