Ethereum (ETH) has a blockchain platform that is instantly recognizable due to its smart contract capabilities. This famous blockchain is on the verge of a major upgrade. We're excited to hear this!
Vitalik Buterin recently wrote his thoughts on ETG in the following article: “The Surge”. That's interesting. It may not seem like it, but it is! This is a significant development designed to increase the scalability of ETH. It also increases transaction speed.
Let's find out what the creators of Ethereum (ETH) are planning.
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Buterin's vision for Ethereum: Scalability, surge, and future prospects
Surge: The path to improved Ethereum performance
Surge represents the next evolutionary step for Ethereum. This started with the Dencun upgrade in March, which introduced EIP-4844 data blobs to reduce charges and improve efficiency. This marks the most significant change in Ethereum since the transition to proof-of-stake.
big challenges and big dreams
Buterin aims for Ethereum (ETH) to process 100,000 transactions per second (TPS) using a layer 2 solution. This goal faces technical challenges. The Ethereum network must maintain Layer 1 decentralization while ensuring Layer 2 solutions preserve core ETH properties.
Current BLOB capabilities have not been able to dominate high-bandwidth sectors such as consumer payments. Buterin suggests increasing blobspace to 16 MB per slot, but admits that this is not enough.
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Proposed solution to Ethereum scalability
To address these challenges, Buterin proposes several technological solutions.
- Validium – This scaling solution targets high-volume, low-value applications. However, if on-chain state data is withheld, there is a risk of funds being frozen.
- Plasma systems – These off-chain scaling solutions can process more data. Buterin sees the use of plasma as “the main remaining challenge.”
- Increase gas limit – This approach requires extending layer 1 directly. This could eliminate risks to the economic status of ETH.
The future path of Vitalik coins
“Surge” is a big moment for Ethereum (ETH). If it works, ETH could become important in the blockchain. It is no exaggeration to say that it is difficult to increase the speed of ETH while maintaining its security and decentralization. Buterin knows it will be difficult, but he believes in his plan.
Buterin emphasizes the importance of continuing to scale Layer 1. He warns that failing to scale Layer 1 can pose risks such as: “Economic status of ETH as an asset”
Telegaon said:
“Ethereum is surging in 2024 and a new ATH level could be created soon. According to our price predictions, the average price of Ethereum in 2024 could be around $4,206.55 If the market goes as we expect, Ethereum's highest trading price in 2024 could be around $4,854.04.However, if the market lowers the lowest price.
And for 2025:
“Ethereum technology is likely to be adopted by even more markets by 2025. If current growth continues, the average price of Ethereum in 2025 could be around $5,217.24.” Our company. According to long-term price predictions, Ethereum may set a new ATH level in 2025. The highest price prediction for Ethereum could be around $6,589.17 in 2025. However, if the market turns around, the lowest price level for ETH could be around $4,896.17 in 2025. under. If the crypto market turns bullish, the value of Ethereum could soar beyond the 2025 price forecast. ”
While these predictions are consistent with the potential impact of a surge, it is important to remember that crypto markets are highly unpredictable.
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Changes in Ethereum are attracting attention in the cryptocurrency world. We at WatcherGuru are also paying attention. What happens with The Surge could shape the future of ETH. People want to use Ethereum for apps and contracts, but will it work? We'll have to wait and see.
