Ethereum (ETH) co-founder Vitalik Buterin spoke to attendees about the long-term future of the ETH network at the annual Ethereum Community Conference (EthCC) in Paris on Thursday.
At the developer-focused conference, Buterin talked about the upcoming “Merge” event, where Ethereum will be making a full transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS).
Discussing the long- and short-term consequences of the merger, Buterin said, “After the merger, you will be able to create an ETH client that doesn’t even know that the Proof of Work phase is going on.”
He also said that the network’s roadmap includes “Surge,” which will increase scalability for rollups through sharding.
“Ethereum Will Become Much More Scalable”
Buterin continued his statements about Ethereum as follows:
“At the end of this roadmap, Ethereum will be a much more scalable system. Eventually, ETH will be able to process 100,000 transactions per second.”
The ETH founder also said that after the completion of Merge, 55% of the overall network development of ETH will be complete. Therefore, developers still have a long way to go in terms of ETH development.
Buterin noted that for now, fundamental changes to the network will include updates to monetary policy and token issuance, security model, and transaction participation process.
Buterin Asks Audiences Who Doesn’t Want the Transition to Proof of Stake
Vitalik Buterin also stated that it is difficult to achieve the goals of decentralization due to the complexity and frequent changes of the network. However, he added that everyone has been looking forward to these upgrades on the network for a long time.
Buterin also asked the audience who wanted to cancel the transition to Proof of Stake at the event he attended, and no one raised their hand. Buterin joked that we wouldn’t cancel even if you wanted to.
*Not investment advice.