Recently, Ethereum co-founder Vitalik Buterin detailed ‘The Surge’, an integral part of Ethereum evolving roadmap, designed to expand the network’s scalability and transaction capabilities. This segment of the development strategy seeks to implement changes that will enable the blockchain to process over 100,000 transactions per second (TPS), addressing the long-standing scalability dilemma facing blockchain technology.
Vitalik Buterin’s Vision: A 100K TPS Future With Ethereum ‘The Surge’
In a recent blog shared on his X account, Vitalik Buterin has set an ambitious roadmap for Ethereum to significantly enhance the network’s capacity. ‘The Surge’ phase of Ethereum’s development focuses on maintaining the network’s decentralization and security while increasing its transaction throughput to over 100,000 TPS.
This phase is critical as Ether competes with newer blockchains that offer higher speeds and lower transaction costs.
According to the Ethereum co-founder, introducing data availability sampling and enhancements in rollup technology is central to achieving these high transaction rates. Data availability sampling will reduce the amount of data each node needs to process. This will increase the network’s overall capacity without compromising its decentralized nature.
On the other hand, the growth and deployment of trustless rollups will guarantee that these layer 2 solutions provide as much security as the Ethereum mainnet.
Additionally, Vitalik Buterin called for increased integration of launched Layer 2 protocols built on Ethereum. This would bring about a single point contact associating the users with a totally integrated ecosystem. Further, interoperability will mitigate the complexities that may arise from the flow of assets from one network to another.
Vitalik emphasized,
“If we are serious about the idea that L2s are part of Ethereum, we need to make using the L2 ecosystem feel like using a unified Ethereum ecosystem.”
The proposed integration of layer 1 and layer 2 networks in Ethereum will provide a seamless, scalable, and expandable blockchain system. Therefore, it will enhance easy use and its attractiveness to new consumers and developers in the market.
Economic Implications and ETH Price Market Response
After Buterin’s statement, there was a positive reaction on ETH price. In particular, Ethereum price rose up by 10.22% in the last seven days. The crypto has also recently hit $2,625 and continues its growth in response to positive changes in the Ethereum networks.
Additionally, technical upgrades proposed by Vitalik Buterin have intensified speculation about ETH price potential to reach $5,000 in 2024. These upgrades, aimed at improving network scalability and efficiency, will lead to a supply shock, further boosting optimism.
Moreover, Ethereum futures have received a boost with their inclusion in Robinhood’s latest trading options. This addition is part of an expansion that includes Bitcoin and other commodity futures aimed at diversifying trading opportunities.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
✓ Share: