The co-founder of Ethereum Vitalik speaks about the ETH development and discussed the plans for the success of ETH 2, so we read more today in our current Ethereum news.
Vitalik Buterin spoke about the five-part roadmap for the latest podcast without a bank, in which he outlined the steps necessary for Ethereum to thrive and survive. To achieve scalability and decentralization, Vitalik called for Etheruem to become more agile and lighter in terms of blockchain data so that more people can use it. In early December, Buterin published an article entitled “Endgame,” in which he argues that the blockchains will converge in the future and list the tools that will enable decentralized block verification. The first step, known as the merge, refers to the full transition from Proof of Work to Proof of Stake, which will take place in the first half of 2022. Part two will give Ethereum greater scalability and bandwidth. According to Buterin, the merge and surge parts are the biggest upgrades to further expand the Ethereum network. Vitalik often speaks about the development of the ETH and when asked about the progress he said: “We are 50% on target.”
Happy birthday beacon chain!
Here is an updated roadmap diagram of where the Ethereum Protocol is evolving and what’s coming in which order.
(I’m sure this, like all diagrams, is missing a lot, but it covers a lot of the important things!) Pic.twitter.com/puWP7hwDlx
– vitalik.eth (@VitalikButerin) December 2, 2021
As soon as the merge and surge phases are through, it is 80% complete. It is estimated that the roadmap will take another six years and lead to 100 percent optimization. The next stages include the edge, which allows users to run nodes and democratize access. Buterin summarized:
“Leave the past in the past and create an Ethereum that actually gets easier and simpler over time.”
Ethereum co-founder Buterin admitted that Ethereum is not yet a Layer 1 system ready for mass adoption. He noted that Ethereum has seen some amazing progress in the second tier of 2021 and the community behind it is ready to fight for it. Right now, Ethereum is running at 2.6 megabytes per second on the blockchain data and claims that once Ethereum has the opportunity to add more bandwidth and increase the user base, more defenders will be running nodes and reviewing the processes.
With a market capitalization of $ 454 billion, Ethereum is the second largest cryptocurrency in the world in terms of market capitalization.
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