Ethereum has turned 10 years old. And instead of looking back, the team behind the second-largest cryptocurrency is laying down a bold plan for the future.
The Foundation says Ethereum will continue operating with no downtime, just as it has since its launch in 2015. The team wants to make sure that even if nation-states or supercomputers try to take it down, Ethereum will survive.
In addition to that, Ethereum also intends to scale considerably. The strategy involves 10,000 transactions per second (TPS) on the layer 1 chain and 1 million TPS on layer 2 chains. All of these will be accomplished with improved tools, such as zkVMs and Data Availability Sampling (DAS), to assist users in being able to verify the chain more quickly without having to download everything.
New technology such as SNARK-friendly code for the Ethereum Virtual Machine (EVM) is being developed to speed up and make the network lighter. These upgrades will provide finality in seconds instead of minutes, a significant boon for users seeking quick and trustworthy results.
The big announcement came during Ethereum’s 10th anniversary celebration. At the same time, reports showed that Ethereum’s strategic reserves have grown to $10 billion. Corporate holdings have also jumped, with total assets reaching 2.73 million ETH.
The Foundation called the new vision a “generational oath” to keep Ethereum alive, safe, and ready for the next wave of users and developers.
This 10-year roadmap is ambitious, but if the team delivers, Ethereum could become much faster and stronger than it is today.
Featured image from Meta, chart from TradingView
