Ethereum co-founder Vitalik Buterin spoke about the development of the second cryptocurrency during the two-hour Bankless podcast. According to him, the readiness of the new version does not exceed 50%.
Buterin stressed that in order to achieve maximum scalability and decentralization, Ethereum needs to become more flexible and lightweight in terms of data on the blockchain. This will allow more people to run full Ethereum nodes and thus make the network more decentralized. Currently, the Ethereum network transmits 2.6 MB of data per second.
Now the project team is working on the merger stage – a full transition to the Proof-of-Stake (PoS) consensus. The transition should be completed in the first half of this year. The second step will be to increase scalability and throughput on the Ethereum network. In particular, zk-rollups will be used for this. These two stages are the most important, while Buterin believes that the work is only half completed.
After the completion of the first two stages, the developers will start implementing a full-fledged sharding – splitting the Ethereum blockchain into many parallel chains. This is also a rather important stage, after which Ethereum “will be 80% complete.”
The final stages should be updates and output of historical data outside the main network. This will allow “any user to become a network validator.” So far, Ethereum cannot become a “first level network, ready for mass adoption,” so there are no plans to give up second level decisions. Moreover, in recent years, such solutions for scaling the main network “have come a long way.”
“Leave the past in the past and make Ethereum so that it will be easier and easier over time,” – said the co-founder of the second cryptocurrency.
Recall that at the beginning of December 2021, Vitalik Buterin published a large-scale article entitled “Endgame”, in which he spoke about his vision of the Ethereum 2.0 roadmap.
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