The Future Of Ethereum: The New Challenges Announced By Vitalik Buterin

The price of Ethereum is not living up to expectations, at least for now. While the world’s second most valued cryptocurrency struggles to excite investors, its co-founder, Vitalik Buterin, is focused on ambitious projects that could reshape the future. At the tenth Global Blockchain Summit, he shared his plans for Ethereum, including a record speed of 100,000 transactions per second and other promising innovations.

More ambitious goals for Ethereum

Vitalik Buterin clearly announced the great ambitions of Ethereum at the Global Blockchain Summit on October 17 in Shanghai. Among the priorities: exceeding 100,000 transactions per second through layer 2 solutions, enabling cross-chain transfers in under two seconds, and unifying the user experience.

The security of cross-chain exchanges will also be enhanced, taking precedence over improvements to the EVM (Ethereum Virtual Machine).

Here are the main goals for Ethereum:

• More than 100,000 transactions per second (TPS) thanks to L2 solutions;
• Cross-chain transfers in under two seconds;
• Enhanced cross-chain security, prioritized over other improvements.

Buterin did not mince his words: “We intend to radically change the user experience and redefine what decentralization means.“

He appears determined to make Ethereum an undisputed leader in the blockchain space.

Trends in the crypto market and the stakes

The crypto market, boiling with activity, sees new projects emerging every day, but few manage to establish themselves like Ethereum. Yet, the challenges are numerous: massive adoption, regulation, and technological evolutions are all parameters to closely monitor.

Hackathons and conferences like ETHShanghai 2024, dedicated to innovation in Web3, demonstrate a global enthusiasm for blockchain, but also the high expectations of the community.

During the international blockchain week in Shanghai, events like MEV Shanghai and the Bethink Hackathon showed that innovation never rests. Notably, awards of up to 100,000 CNY were offered to the best developers for innovative solutions. These initiatives allow us to envision the technologies of the future, with Ethereum as a leader.

According to some analysts, Vitalik Buterin’s plan to achieve 100,000 transactions per second could very well drive up the price of Ethereum.