Ethereum co-founder wants to improve the efficiency of deploying smart contracts on the ETH network, making their execution faster and more cost-effective

BestChange
2 min readNov 28, 2023

Ethereum co-founder Vitalik Buterin announced a strategy that is aimed at improving the betting procedure in the ETH network and the performance of the blockchain. The IT entrepreneur’s initiative includes the introduction of private mempools and ERC-4337 functionality, which should help cope with the complexities that hinder the development of the network.

According to the co-founder of Ethereum, private mempools will help create conditions for an increased level of anonymity and security, and will also help hide personal transactions from clients of the public mempool.

The ERC-4337 functionality is designed to make it easier to use multi-signature crypto wallets on the ETH network. In addition, another important point of Buterin’s new strategy will be the introduction of a code pre-compilation function.

The developer said that by pre-processing certain code elements, the functionality can potentially improve the efficiency of deploying smart contracts on the Ethereum network, making their execution faster and more cost-effective.

Buterin is somewhat concerned about the possible threats that could become a catalyst for the centralization of staking solutions on the Ethereum network, especially against the backdrop of the active work of projects such as Lido Finance. Therefore, the programmer made a promise to stay focused on decentralization, especially to ensure liquidity when placing bets.

Previously, Buterin expressed the opinion that the development of an independent open stack with blocks in a distributed domain name system based on the ETH blockchain, variations of Proof-of-Humanity and a proof of visit protocol to compete with web 2.0 giants is something that can inspire. At the same time, the programmer noted that now most of these projects are “not inventive enough.”

“DeFi is cool, NFT is a new primitive, but a continuation of something that has a history, and the use of cryptocurrency for payments is familiar. These are separate elements that are designed to fit into the previous ecosystem,” Buterin previously said.

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