During his keynote address at EthCC this week, Vitalik Buterin outlined his vision for the future of Ethereum after The Merge, the move to proof of stake (PoS). The famous smart contract blockchain will have to go through a succession of updates, which should bring it to a capacity of 100,000 transactions per second.
Vitalik Buterin clarifies Ethereum roadmap
When fifth edition of the EthCC conferencewhich was held this week in Paris, Vitalik Buterinthe founder of Ethereum, took the stage to outline the next steps in the evolution of the network.
As announced recently, the famous Merge, which will mark the transition from a proof-of-work (PoW) consensus to a proof-of-stake (PoS) consensus, is due to take place on September 19. The Merge must reduce network energy consumption by 99%. But according to Vitalik Buterin, Ethereum will then only be at 55% of its development, once this step has been completed. Other major projects, which we will detail, will then take place:
- The Surge;
- The Verge;
- The Purge;
- The Surge.
Ethereum Upgrade Roadmap
The Surge, which will be the next big step after The Merge, will see the implementation of sharding. It should arrive in 2023 and will consist of a fragmentation of operations of the network. One could illustrate this by comparing the update with the arrival of Taylorism in industry at the beginning of the twentieth century.
Ethereum will be divided into shards (or fragments), and each of them will be given a specific action the smooth running of the consensus. Like a production line in a factory, this horizontal cutting will significantly increase productivity. This productivity is symbolized here by the number of transactions per second.
These shards will then relay their information to the main channel, the Beacon Chainto anchor the blocks in the blockchain.
👉 To go further – Discover our tutorial to buy Ether (ETH)
The No. 1 exchange in the world – Regulated in France
Binance
-10% off fees with code SVULQ98B 🔥
The Verge, The Purge and The Splurge, three more distant events
Without going into big technical details, The Verge will allow you to reduce block size. At the same time, validators will have less data to store. It is in fact an optimization of Merkle trees, the mathematical concept allowing to contain the information of a block in a cryptographic hashes.
These new, more powerful functions are called “Verkle trees”. With less storage required, it would then be “simpler” to become a validator, which could improve decentralization.
As a continuation of this improvement, The Purge will allow to purge the blockchain of all its excessive data. This will also help reduce the storage space needed by validators.
All these steps must lead to a drastic reduction in network congestion and it is on these projections that Vitalik Buterin bases himself to predict an Ethereum at 100,000 transactions per second. Finally, The Splurge will consist of a continuous improvement of all previous updates. This final phase will also make it possible to verify that the machine runs perfectly.
Of course, if The Merge is very close, the rest is further away. However, these are necessary steps in building the formidable technological revolution what is Ethereum.
👉 Also in the news – EthCC [5] : what to remember from the 5th edition of the Ethereum Community Conference
published by editions Larousse
Source: Vitalik Buterin
Newsletter 🍞
Get a crypto news recap every Sunday 👌 And that’s it.
What you need to know about affiliate links. This page presents assets, products or services relating to investments. Some links in this article are affiliated. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no impact on you and you can even get a bonus by using our links.
Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this article. Investments related to crypto-assets are risky in nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.
I timidly discovered the world of blockchain at the end of 2018 during my quest for financial freedom. Initially invested moderately, it was only two years later that I took the gamble of betting everything on the movement that was taking shape then. I then dedicate 2021 to training myself better to acquire more knowledge and seriousness. As I often like to say: I still have a billion things to learn. And what I do know, I want to share with you.
Vincent Mayor
225 items