The recent news of Vitalik Buterin explaining the future of Ethereum has been going viral. According to the co-founder, Ethereum is just 40% complete, as opposed to Bitcoin, which is considered to be around 80% complete. Vitalik also said that there’s a lot of exciting stuff coming after the big Ethereum Merge.
If you’re unfamiliar with the merge, it simply means that the Ethereum Mainnet will merge with the Beacon Chain proof-of-stake system, which will improve the future of the company’s scalability. It will also reduce Ethereum’s energy consumption by 99.95%, which is just marvellous!
So what are Vitalik’s grand plans? Let’s take a deep dive into the future!
Vitalik’s Future Plans for Ethereum
Image source: Twitter
It all happened at the Ethereum Community Conference in France, where the co-founder shared his views and vision for the future development of Ethereum. He said that the merge is just the beginning and it is one of their first plans in action. And to make things even more interesting, the co-founder made the entire roadmap and titled each step in rhyme. So after the merge, we’ll get to witness surge, verge, purge, and splurge.
Buterin said: “Ethereum today can process about 15-20 transactions a second. This Ethereum, including the rollups, including the sharding, [...] it’s going to be able to process 100,000 transactions a second.”
So, let’s talk about all of the 4 milestones that Ethereum has already planned, one by one.
1. Ethereum’s Surge
Image source: Ethereum Foundation
The Surge points to the addition of Ethereum Sharing. It is one of the most promising scaling solutions that will change the future of all layer-2 blockchains. According to the Ethereum Foundation, it is a multi-phase upgrade that will allow the development of layer-2 blockchains more cheaply and efficiently.
So, by lowering costs and maximizing scalability, it’ll be easier to make Ethereum the most secure network in the world of blockchain.
2. Ethereum’s Verge
Image Source: vitalik.ca
The Verge refers to “Verkle trees,” an upgrade that will let end-users become the network validators without having to save an extensive amount of data on their drives. This will be the future of decentralization since there’s no middle party involved.
3. Ethereum’s Purge
Even though the name “purge” might sound like it’s from a horror movie, the actual meaning is a lot different. The Purge refers to cutting down the space you have in your hard drive while simplifying Ethereum’s protocol. In other words, the Purge will save a lot of data, resulting in severe space cutting if we look at the big picture. The Purge will eliminate the historical data on your hard drive to reduce the load on Ethereum’s network.
4. What about the Splurge?
Well, according to Vitalik, it means all the other small upgrades and “fun stuff” that will incorporate the fine-tuning of the network to make it interesting.
Sources
1. https://vitalik.ca/general/2021/06/18/verkle.html
2. https://ethereum.org
3. https://www.youtube.com/watch?v=kGjFTzRTH3Q&ab_channel=GrandAmphiTh%C3%A9atre
4. https://twitter.com/schin_tomar/status/1550136729847431168
