Vitalik Buterin talks about “The Surge” is the future of Ethereum
Vitalik Buterin, co-founder of Ethereum, provided important updates on “The Surge,” the next crucial phase in the development of the Ethereum network.
The upgrade is part of a larger plan that seeks to drastically increase scalability and reduce transaction fees, an issue that still affects many Ethereum users.
Currently, fees on Ethereum remain high. One of the solutions to solve this problem involves implementing scalability options, such as Layer 2already available since 2019.
However, “The Surge” aims for a more significant change, aiming to reach more than 100 thousand transactions per second (TPS). This represents an impressive increase over the current 15 TPS, making the network more efficient and prepared for growing demand.
What is Ethereum’s “The Surge”?
“The Surge” is one of the six stages of the development roadmap for Ethereum. So far, two of these steps have already occurred, such as “The Merge”, which marked the transition from the proof-of-work (PoW) model to proof-of-stake (PoS).
Now, with “The Surge”, the focus is to increase the scalability of the network, allowing it to support more transactions quickly and with less cost. Among the next expected updates is the launch of “Prague/Electra”. The solution should allow payment of gas fees with various tokens and improve the efficiency of smart contracts.
The main objectives of “The Surge” include providing the main network (L1) and second layer (L2) solutions with the ability to process more than 100 thousand transactions per second, without losing the decentralization and robustness characteristics of Ethereum.
Furthermore, Buterin highlighted that L2 must continue to inherit the network's essential properties such as censorship resistance and interoperability, creating a unified ecosystem rather than multiple fragmented blockchains.
Trilema the blockchain
Another important advancement discussed by Buterin was the introduction of plasma architecture, which could help Ethereum solve the “blockchain trilemma.”
This concept explains that it is difficult for a blockchain to simultaneously balance decentralization, security, and scalability. With the use of technologies like SNARKS (zero-knowledge non-interactive succinct arguments), Ethereum seeks to achieve this balance.
With these updates, Buterin believes that the Ethereum will become an even more attractive platform for both developers and investors.
The Plasma solution, for example, is already undergoing enhancements to support more off-chain transactions. Meanwhile, it maintains the security of the main network. Furthermore, improvements in validation tests in L2 networks and interoperability between these networks are also part of the scope of “The Surge”.
The price of Ethereum continues to be a reflection of optimism about these improvements. Currently, ETH is priced at US$2,702.92, with a market value of US$325 billion.
As the roadmap progresses, Ethereum is expected to continue to strengthen its position as one of the largest blockchain platforms in the world.