Ethereum founder Vitalik Buterin has introduced a comprehensive new plan aimed at addressing the blockchain’s scaling challenges, focusing primarily on enhancing the performance of Ethereum’s base layer. In recent years, Ethereum’s scaling has largely depended on Layer 2 rollups, which increase network capacity and reduce transaction costs. Buterin’s new strategy seeks to make Ethereum more efficient, faster, and less expensive to support the growing user base and increasing transaction volume. Previously, Ethereum has undergone several upgrades, including “Eth 2.0” and sharding, which are considered crucial for network scalability. As one of the world’s most prominent and widely used smart contract platforms, Ethereum underpins decentralized finance (DeFi), non-fungible tokens (NFTs), and other digital applications. The rise in transaction numbers and fees has further highlighted scaling issues. The new plan aims to improve the core layer while ensuring network security and transparency to provide a better user experience. This will not only boost Ethereum’s performance but also strengthen its competitiveness in the digital currency space. However, implementing such significant upgrades involves technical challenges and requires careful assessment of network impacts to avoid security or stability issues. The Ethereum community and developers continue to work diligently to meet future demands. This initiative could mark a major milestone in Ethereum’s development, enhancing user confidence and solidifying its position in the blockchain ecosystem.
Source: coindesk
