Vitalik’s Announces Next 4 Phases of Ethereum’s Development Which is Only 40% Done



CoinGape | Nidhish Shanker | Jul 22, 2022

Ethereum image - Vitalik’s Announces Next 4 Phases of Ethereum's Development Which is Only 40% DoneThe Plan After Ethereum Merge

Ethereum co-founder, Vitalik Buterin, announced the next phase of Ethereum ecosystem development at the Ethereum Community Conference. Revealing that the long-awaited merge will only complete about 55% of Ethereum’s growth plan, Buterin released 4 other phases. 

The Surge, Verge, Purge and Splurge phrases would allow Ethereum to process about 100,000 transactions per second.  

  1. Surge introduces sharding to the platform, a solution that largely increases speed and scalability.
  2. Verge upgrades to smaller Merkle roots, which will improve storage and scalability.
  3. Purge makes it easier for validators to store more data and reduce their bad debt.
  4. Splurge streamlines the process and ensures the success of the roadmap.

If Vitalik’s prediction of 100,000 transactions per second comes true, it could revolutionize the blockchain industry. Ethereum’s current transactions per second range anywhere from 10 to 20 TPS.

See:  Vitalik: Designing Principles-based Stablecoins that (may not) collapse

Vitalik’s ambitious roadmap could mean higher scalability, speed, and decentralization for Ethereum. The long-awaited Ethereum merge changes Ethereum’s consensus mechanism from Proof-Of-Work to Proof-Of-Stake. This move will reduce ETH’s energy consumption by over 99%. 

One of the concerns regarding Blockchains has been about the ability of quantum computers to cause security breaches. Ethereum plans to make its platform resistant to quantum attacks in the long run. 

Vitalik Buterin: 

The difference between Bitcoin and Ethereum and revealed that while Bitcoin supporters believe the blockchain is 80% done, Ethereum supporters believe that their platform is only 40% done. 

Continue to the full article –> here

NCFA Jan 2018 resize - Vitalik’s Announces Next 4 Phases of Ethereum's Development Which is Only 40% DoneThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada’s Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: