Connect with us

Plato Vertical Search

Blockchain

Vitalik Buterin says Ethereum development is halfway through

Vitalik Buterin has guided his followers through the roadmap to guarantee Ethereum’s survival and success. One of the things that the Ethereum co-founder notes is […] […]


Vitalik Buterin has guided his followers through the roadmap to guarantee Ethereum’s survival and success. One of the things that the Ethereum co-founder notes is that Ethereum needs to be accessible to more people.

Buterin gave the necessary steps needed by the Ethereum blockchain in the latest release of the Bankless podcast.

Ethereum’s roadmap to success

Buterin provided a five-part roadmap that will enable Ethereum to achieve success. The recent report by Buterin is a follow-up from an article he published in December 2021 titled “Endgame.”

The first step towards Ethereum’s success is the merge. This process t will allow the Ethereum network to switch fully from a proof-of-work consensus to a proof-of-stake consensus. This switch is expected to happen within the first half of 2022.

The other process is the surge, which seeks to bring scalability to the Ethereum network. The process will also deliver high bandwidth and throughput on zk-rollups. Buterin noted that the merge and the surge are the two most important upgrades on the Ethereum network.

Buterin further remarked on the journey that the Ethereum network had taken so far, stating, ”we are 50% on the way there.” Some of the developments the network has recorded include the London hard fork and Beacon Chain.

According to Buterin, once the merge and the surge are complete and full sharding is achieved, the process will be 80% complete. The entire roadmap is expected to take another six years to be finalized.

The other process involved the verge, and according to Buterin, the process will allow “democratizing access to the broadest number of participants possible to anyone and everyone who wants to verify the validity of the chain.” After the verge, the purge and splurge phases will follow.

Ethereum fighting to achieve scalability

Buterin admitted that Ethereum was still far from supporting mass adoption. He commended the development of layer-two solutions on the network, further noting that reduced transaction fees were needed on the blockchain.

He also noted that over the past year, layer two scaling solutions on Ethereum showed that the community was willing to fight for the network.

Buterin also added that Ethereum was focused on scalability, and once the platform increases the bandwidth and user base, “the more defenders will be able to run nodes and to verify that everything is okay.”

Your capital is at risk.

Read more:


Web3 Reimagined. Data Intelligence Amplified. Click here to access.

Source: https://insidebitcoins.com/news/vitalik-buterin-says-ethereum-development-is-halfway-through

Latest Blockchain Streams

Blockchain

‘Buy the dips and sell the rally,’ would be any seasoned trader’s piece of advice for timing the market. But, this timing can seldom...

Blockchain

While the past 48 hours have been rather detrimental to the market sentiment, Binance Coin flipped the $414-mark from support to resistance. Polkadot and...

Blockchain

In recent months, it’s not just been crypto-products that have been stirring up controversy, but even their advertisements. One country that is watching these...

Blockchain

Bitcoin has reached its lowest price level since July, with it currently standing at a big support line of $35,000. Plenty thought $39,000 would...