Friday, June 21, 2024

What does Vitalik have to say about Ethereum’s development?

Vitalik Buterin, the founder of the Ethereum blockchain, has recently come out in public with a five-part roadmap that outlines all the steps that Ethereum will take to survive and thrive in the fiercely competitive crypto ecosystem. The Ethereum founder walked listeners through the roadmap on the Bankless podcast.

According to Buterin, Ethereum has to be more lightweight and agile as far as blockchain data is concerned. This will allow the blockchain to be managed and used by more people and also help it to achieve ultimate decentralization and scalability.

During the beginning of December 2021, Buterin published ‘Endgame’ – an article where he stated that ultimately, all blockchains would converge. He also listed a variety of tools that will ensure that blockchain verification happens in censorship-resistant and decentralized ways.

The first part of the roadmap, called the merge, involves Ethereum’s transition to proof-of-stake from proof-of-work, which will make Ethereum more energy-efficient. The second part, the surge, aims to increase Ethereum’s scalability, throughput, and bandwidth. According to the Ethereum co-founder, the first two parts of the roadmap are the most critical in terms of building the network.

After the first two parts are completed, the third part, full sharding implementation, will take place. The fourth part, the verge, will allow nodes to be run by more users. The fifth part, the purge, and the splurge, will add miscellaneous upgrades and eliminate historical data.

Buterin said that the Ethereum blockchain is halfway there in terms of the completion of the roadmap’s parts. He also added that all the parts will be completed within the next 6 years.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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