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- Co-founder of Ethereum, Vitalik Buterin recently framework the road map of Ethereum Protocol.
- He made his words in the conference of Ethereum Community, that was held in Paris, France on July 19, 2022.
- His statement is the assurance of a strong blockchain structure that will fulfil the user requirements.
Ethereum’s Transition According To Vitalik Buterin
The co-founder of Ethereum Vitalik Buterin, configured the road map that contains multiple updates. Resulting to that, the Ethereum Protocol becomes more powerful, secure and will work on a decentralised system.
On the other hand, the highlighted merger is now scheduled in September 2022. As in this merger Ethereum will upgrade from Proof-of-work to a Proof-of-Stake.
Referring to the merger, Buterin said, “The Ethereum Protocol will only be about 55% complete and would hence undergo further upgrades, namely; the Surge, the Verge, the Purge, and the Spurge.”
Ethereum Protocol Road Map
Projecting the road map of Ethereum Protocol to be more scalable. That will boost the transition process with 100,000 per sec (tps). While the current time that the Ethereum protocol takes is between fifteen to twenty tps. While the Bitcoin protocol takes five tps in the transition process.
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Vitalik Advises For The Protocol Improvement
At a recent conference, Buterin advised the members that the Ethereum network of Ethereum requires much more improvement. That will decrease the complexity of the present network system.
His advice focused on the long-term goal on the upgradation of the Ethereum network. Additionally, he further said that he would eventually like to see the settlement of Ethereum.
He also demanded from the members to give some time to the new system. That would decrease the risk in the latest feature. This somehow will take a little bit more time, but stay longer. As per his states, he said this will be “short term pain, long term gain.”
If we take a look at the report analysis presented by Electric Capital Developer in 2021, then the Ethereum network has increased the developer count from 42%. Adding into that, this network also pulls the Web3 developers into its chain.
Analysing the price of Ethereum in the recent months, showed the low of Ethereum at $943.52, while its high was at $2951.12. And the current price of Ethereum is $1,469.82 with an Up of 4.07%.
Conclusion
Ethereum network is currently working in the upgradation mode.While the co-founder Vitalik Buterin, is making efforts to reduce the complexity that improves the network transition speed.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
