*This* BIG Ethereum Upgrade will Send 1 ETH to $10,000!? (Not Clickbait)

Bitcoin is internet money it's a system Of money that exists on the internet was Created on the internet and it allows You to send and receive value the same Way you can send and receive an email Anywhere in the world instantaneously Without intermediaries ethereum in 2032 The whole process just becomes Incredibly sleek and seamless to the Point where like literally a phone could Even do it look around look around you Look at Created this this didn't exist before we Were here look around Bitcoin was Created 14 years ago this month Cryptocurrency has been around for 14 Years and so many viable projects exist In cryptocurrency today it's so much More exciting being involved in Cryptocurrency today when we have a Vision of what the future looks like for Instance ethereum what will ethereum Look like in 2032 vitalik buterin offers Us a glimpse into the future so ethereum In 2032 you have a note your node runs On your phone every 12 seconds or 32 Seconds or whatever number we agree on You download 3.6 megabytes of data you Hash it you do a couple of elliptic Curve equations to check a snark that's It you know the block is valid wait 12 Seconds get 33.6 megabytes of data hash It do some elliptic curve operations Verify the snark and valid 12 seconds

Later data hash elliptic curve check Valid right so the whole process just Becomes incredibly sleek and seamless to The point where like literally a phone Could even do it right because it's Incredibly light on computation the only Thing that it's heavy on is data and Data just happens to be the thing that You know phones are increasingly getting Insanely good at it will get even better At over the next 10 years right so that To me is what I see the final goal being From a protocol standpoint one of the Number one upgrades that ethereum Holders are looking forward to a real Game changer is something called account Abstraction with EIP 4337 this ethereum upgrade could make it Harder to lose all of your crypto so Make it easier to keep all of your Crypto account abstraction is a concept Recently embraced by Visa could make Ethereum wallets significantly more user Friendly those of you who don't know What account obstruction is the simplest Way to explain it is that there's two Account Types on ethereum right now There is a AOA which is an externally Owned account which is a normal ethereum Address that you and I use and then There is a smart contract account which I mean that's pretty self-explanatory Right the point of account obstruction Is to from a developer point of view and

From a user point of view make these Things basically the same so it doesn't Have to be that separation between the Two uh which comes with a bunch of nice Features this is something you want to Get on your radar ethereum developers Are hard at work trying to make its Blockchain more user friendly one of the Downfalls of crypto is the costliness of Simple screw-ups for instance if a user Loses the keys to their crypto account They could lose access to their crypto Holdings forever in the face of this and Other potential pitfalls it's vastly Easier to lose your money in crypto than In traditional banking I think even us Crypto Believers agree with this Blockchain developers increasingly Recognize that human error is an Inevitability meaning it will be Difficult to push crypto into the Mainstream without Fail-Safe and better Ease of use one of these Innovations is A concept called account abstraction Ethereum holders you tell me if this is Something you'd be interested in account Abstraction AA aims to use Smart Contracts to execute crypto transactions By creating certain validity rules with AAA users won't need to sign off on Every transaction with one's private Keys quote we're going to be at the Point in the future we're using an Ethereum account it's going to be just

As simple as using a bank this is According to Christoph Gazo a co-author For an ethereum improvement proposal on Account abstraction people won't have to Make that trade-off of like hey you know I like decentralization but also it's a Pain in the a to use ethereum people Won't have to make that trade-off Ultimately through account abstraction Developers want to make ethereum as Usable as a traditional Fiat bank so Users can make transactions more easily Program automatic bill payments and more This would be a game changer for Ethereum holders so what exactly is the Improvement proposal that wants to Create account abstractions for ethereum It's EIP 4337 watch this very quick video by Stack up so you can truly understand What's coming up for ethereum what is Eip4337 Eip4337 is an ethereum improvement Proposal for using smart contracts as People's primary accounts this is often Called account abstraction since it Means the hard parts of managing users Account are abstracted it's not just the Public private key pair it is a program That runs on the blockchain unlike other Account abstraction proposals Eip4337 does not require any changes to The blockchain itself instead it creates A system of higher level infrastructure

This means that it can be used today and On any evm compatible blockchain Here's how it works a user's intent is Packaged by their app into a pseudo Transaction object called a user Operation User operations can contain multiple Transactions and any data needed to Execute transactions with smart contract Accounts The user operation is then sent to a Network of bundlers Bundlers can pull transactions from a Public mempool or from private ones They package these user operations and Submit them to the blockchain On the blockchain a smart contract Called the entry point handles the Verification and execution of these Transactions by wallet contracts smart Contract accounts owned by a user other Smart contracts like pay masters and Aggregators can help sponsor Transactions and aggregate signatures For better user experiences These elements work together to abstract Blockchain transactions for end users So people don't need to learn how Blockchains work just to use them even Vitalik buterin seems very excited about Account abstractions and Roll-Ups and Roll-Ups inside of account abstractions Let's take 30 seconds and listen to Vitalik buterin actually we wanted to

Answer Joseph so make sure to answer Joseph's question on account abstraction Which is really important Um I think actually account abstraction Inside of Roll-Ups is potentially very Powerful and quite simple to implement The reason basically being that in a Roll-up where you have a sequencer that Sequencer could be more powerful than The other nodes um and so the secret Circuit spends more time verifying each Transaction and checking if that Transaction pays the fee Um the sequencer would have more Long-running relationships with Participants so they would have more Ability to penalize them before but Um before uh publish uh providing Transactions that turn out to be invalid After a very long period of execution The transactions don't need to be Rebroadcasted they don't need to be Reprocessed and so forth and so You could basically create just like a Very simple and dumb abstraction that Says run the transaction sequencer Checks if their own balance went up by a Sufficient amount if it did then include It if not then throw it away Um and so you can do account abstraction Very nicely and simply in this uh secret Uh sequencer model and and that actually Could be a very kind of a good place to Start experimenting with account

Abstraction so I'm uh definitely bullish On that so is Eip4337 account abstraction plus the Unstaking upgrade that's coming up are These two things something that could Really send ethereum to the next level I don't think most people realize how Clear ethereum's roadmap is for the next Few years ethereum had some tumultuous Times getting to where it did in 2021 With the merge with proof of stake Ethereum today has a very clear vision For the future with l2s with scaling Follow our channel for daily videos Keeping you updated on everything going On in cryptocurrency you let me know if I was the one who put this on your radar Most people don't know about this we do Our audience does I do think that this Is something that most people do not Realize and will take ethereum to the Next level but you tell me subscribe to The channel like the video see you Tomorrow


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