Perhaps many are wondering, how far has the Ethereum network developed?
In the latest partnership of its founder, Vitalik Buterin through a recent Bankless podcast session explained there are several important aspects that need to be achieved to ensure that the second largest network is truly decentralized and fully scalable.
Buterin is confident that in the future, all blockchains will be united under the presence of block validation in a decentralized and filter -proof concept.
First things first:
Mergers
Refers to the transition from proof-of-work (PoW) to proof-of-stake (PoS) mechanism
Occurs in the first half of 2022 with the presence of Altair updates. Read here.
Improvement
Refers to the ability to increase scalability, productivity, and wider bandwidth in Ethereum through the zk-rollups function.
Zk-rollups (Zero-Knowledge Rollups) is a smart contract that scales the Ethereum network by processing multiple transactions from the blockchain
Buterin also revealed Ethereum’s growth since the network aired 6 years ago has reached 50% after the launch of Beacon Chain, London’s hard fork and non-fungible token (NFT) market growth.
But one thing that needs to be known to the public, when the merger and upgrade phase is completed, there will be a full implementation of sharding, making this network 80% sustainable.
Based on the Ethereum roadmap, it is expected that another 6 years will be required for 100% network optimization.
This was shared in Buterin’s tweet on December 2 in conjunction with Beacon Chain’s first anniversary after its launch on December 1, 2020.
Happy birthday beacon chain!
Here's an updated roadmap diagram for where Ethereum protocol development is at and what's coming in what order.
(I'm sure this is missing a lot, as all diagrams are, but it covers a lot of the important stuff!) Pic.twitter.com/puWP7hwDlx
- vitalik.eth (@VitalikButerin) December 2, 2021
