ETHCC conference in Paris: the future of Ethereum according to Vitalik Buterin

Many developments to come – The convention on the ecosystem Ethereum called theETHCC was held from July 19 to 21, 2022 in Paris. Among the speakers, Vitalik Buterin, co-founder of the ETH network, was present. He shared with the public his vision of the future of the ETH blockchain.

For Vitalik Buterin, Ethereum is far from having finished its development

As you surely know, the Ethereum network will soon experience a major evolutionwith “The Merge”. This merger, which will mark the transition from consensus to proof of work (PoW) to that by Proof of Stake (PoS), should take place September 19, 2022.

But, it is far from being the final evolution of Ethereum, if we are to believe its co-creator, Vitalik Buterin. During the’ETHCCthe annual Ethereum community conference, he explained that the ETH network is at a ” inflection point “where the latter would have to know important changesbefore experiencing a more stable phase of development.

Buterin thus compared the stages of advancement of Bitcoin (BTC) and Ethereum, suggesting that the prince of cryptos still had a long way ahead of him:

“The difference between Bitcoin and Ethereum is that Bitcoiners think Bitcoin is 80% complete, but ETH supporters think Ethereum is 40% complete. »

Vitalik Buterin compares the advancement of Bitcoin and Ethereum.
Vitalik Buterin during his conference at the ETHCC 2022. – Source: YouTube channel Grand Amphi Théatre

>> Is your heart racing for Ethereum? Sign up on Binance (affiliate link) <<

The watchword of the future of ETH: Decentralization

Personally, Vitalik Buterin considers that Ethereum will be at 55% of its development after The Merge and moving the network to Proof of Stake. Because the young man of 28 years, still sees many major additions necessary to complete his vision of Ethereum.

Already, Buterin, would like to keep Ethereum as uncomplicated as possible, so that it remains easy to use for as many people as possible. It would also help to decentralization of this blockchain network, which seems to be his objective next, after the improvement in scalability (the number of transactions per second) that The Merge will bring.

“What to focus on instead? Decentralization.
– Client [logiciels pour les nœuds du réseau] that are easy to use and lightweight, both for the consensus layer, the execution layer and the layers 2 by default ;
– Better support for small individual stakers [ndlr : qui ont moins de 32 ethers à mettre en jeu]and smaller-scale decentralized staking pools;
– Being able to run a full node with lighter hardware. »

Decentralization, the watchword of Buterin's long-term vision for Ethereum.
Vitalik Buterin explains the next stage of Ethereum development.

In summary, developers in the ETH ecosystem still have work to do before reaching the operational vision. Especially since this decentralization will not be the only element to take into account for the long term. Resistance to quantum computers and the implementation of the protocols of zero-knowledge proofs (Zero-knowledge proof/ZKP) are big chunks that will be dealt with in the future of ETH.

With each passing day, Bitcoin, Ethereum and cryptocurrencies are gaining ground. On your side, prepare for the future by starting now to accumulate bitcoin. Run to register on BinanceTHE absolute benchmark for crypto exchanges (affiliate link).

Leave a Comment