Vitalik Buterin Teases Four Goals for Ethereum Future

Ethereum co-founder Vitalik Buterin has uncovered 4 new aspects he wishes to improve the blockchain protocol on 

During his speech at the Shanghai Blockchain Conference, Ethereum (ETH) co-founder Vitalik Buterin outlined four pivotal goals for the network’s future development. Buterin highlighted the importance of improving Ethereum regarding scalability, cross-chain compatibility, user experience, and security. 

The Goals: Ethereum to Reinforce its Leadership

This is essential for keeping Ethereum’s strong role in the Decentralized Finance (DeFi) ecosystem. The first goal focuses on increasing Ethereum’s throughput to over 100,000 transactions per second (TPS) through Layer 2 (L2) scaling solutions. 

Vitalik Buterin pointed out that new technologies, like rollups, will greatly increase TPS. This will help Ethereum support larger applications and more users while maintaining its decentralized nature.

Vitalik Buterin said in Shanghai that Ethereum has several important goals in the future:
– More than 100,000 TPS through L2
– Cross-chain transfers within 2 seconds
– Provide a unified user experience
– Cross-chain security takes precedence over EVM https://t.co/K3JSBISuWP

— Wu Blockchain (@WuBlockchain) October 21, 2024

The second major goal is achieving cross-chain transfers within two seconds. Buterin highlighted the need for seamless interaction between Ethereum and other blockchain networks. He envisioned a future where users could move assets and data instantly across different chains. Furthermore, the visionary co-founder said providing a unified user experience is his third goal.

He pointed out that Ethereum’s complexity often deters newcomers and casual users. Finally, Buterin emphasized that cross-chain security must precede the Ethereum Virtual Machine (EVM). He affirmed that security must be prioritized before adding new features. Ethereum can build trust in the wider blockchain ecosystem by ensuring the safety of cross-chain bridges.

More Solutions to Improve Ethereum Scalability

Recall that Vitalik also established a key standard that L2 projects must attain to get his attention. He mentioned that by 2025, his attention on Ethereum Layer-2 projects will be limited to solutions with stage 1 status in decentralization. 

He said these L2 projects would be the only projects he would publicly mention on blogs, talks, and others. He also outlined crucial criteria an L2 project must meet to be considered a stage 1 roll-up.

According to him, the project must have a 75% threshold on the council to override the proof system. This is in addition to having at least 26% of the council members from outside the rollup team. Overall, Vitalik’s focus on stage 1 L2 projects highlights his determination to ensure continuous growth in the Ethereum network.

As someone constantly drawing up ways to improve the chain, Vitalik suggested improving data availability sampling to scale transaction speed. This method allows the network to verify data availability without requiring each node to download and store all the data.

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