Originally published on: October 14, 2024
Ethereum co-founder, Vitalik Buterin, recently shared his thoughts on the future of the Ethereum protocol post-Merge on social media. In his detailed blog post, Buterin highlighted key areas where he sees potential for significant advancements in the protocol.
The Ethereum Merge in 2022 marked a significant transition for the protocol from proof-of-work to proof-of-stake (PoS). While Buterin acknowledged this milestone as “hard-earned” and “long-awaited,” he emphasized the need for continued improvement in various aspects of PoS.
One of the primary goals for Ethereum’s future, according to Buterin, is to reduce transaction times. Currently, transactions on the network can take up to 15 minutes, causing delays and congestion. Buterin suggested implementing solutions like single-slot finality to drastically cut down transaction times and enhance user experience.
In addition to faster transaction speeds, Buterin discussed the importance of making Ethereum more accessible to a wider range of users. He proposed lowering the minimum staking amount from 32 ETH to 1 ETH, making it easier for individuals to participate in securing and governing the network.
Buterin also highlighted the need to protect Ethereum from potential attacks, suggesting the implementation of single secret leader election and improving the protocol’s resilience against quantum computing threats and 51% attacks.
As Ethereum looks towards the upcoming Prague-Electra (Pectra) upgrade scheduled for the first quarter of 2025, Buterin’s reflections offer valuable insights into the direction of the protocol’s development.
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