Vitalik Buterin declared at the 12th Global Blockchain Summit in Shanghai that the privacy assumptions blockchains were built on are broken and require new cryptographic tools such as SNARKs, STARKs, fully homomorphic encryption (FHE), and indistinguishability obfuscation (iO). The EIP-8288 proposal aims to use recursive STARKs for processing mempool transactions, slashing gas costs from roughly 10 million to the low tens of thousands. Buterin assigned a 60 % probability that SNARKs, FHE, and iO will achieve less than 10 times the computational overhead of standard processes by the end of the decade. These advances fall under « Lean Ethereum, » the protocol’s third major iteration that will integrate post-quantum cryptography directly into the base layer.
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