Vitalik Buterin’s Bombshell Proposal: Is Ethereum on the Brink of a Security Revolution?

Ethereum's co-founder just dropped a game-changing security upgrade proposal—and the crypto world is buzzing. Could this be the overhaul ETH needs to silence its critics?

Here's why TradFi won't care until it moons.

Ethereum security boost incoming?

Ethereum could see a boost in its security if there is a lower risk of Denial of Service (DoS attack) and the stability of the chain is improved. Buterin proposes to improve this and the performance of the chain through an Ethereum Improvement Proposal (EIP) labeled EIP-7983. 

In short, EIP-7983 attempts to improve predictability in transaction execution and builds on prior efforts like a proposal to limit maximum gas usage to 30 million, EIP-7825. EIP-7983 calls for halving the maximum gas usage and sets a cap of 16.77 million gas units for each Ethereum transaction, and the barrier will have no impact on the majority of users. 

The proposed cap is large enough to cover the needs of decentralized applications on the Ethereum blockchain. 

Currently, a single transaction on the Ethereum blockchain could consume the entire capacity of a block. Attackers could exploit this vulnerability in the chain and make the network unstable and unpredictable. 

Vitalik’s proposal calls for a better distribution of resources on the Ethereum blockchain. The new cap is like a stricter rule and will help resist attacks from malicious entities. The blockchain will simply reject any transaction that exceeds the cap and effectively change the logic that secures the Ethereum chain. 

Toni Wahrstätter, a researcher at the Applied Research Group (ARG) of the Ethereum Foundation, is the co-author of the proposal. Wahrstätter notes that the new rule is not expected to disrupt a majority of the transactions that already consume far less gas.