Ethereum (ETH) co-founder Vitalik Buterin, made exciting statements about the future of the network at an event held in Prague, ETHGlobal Prague Conference.
Buterin announced that a series of innovations are on the way to increase the scalability of Ethereum and improve the functionality of the network.
Buterin emphasized the importance of a balanced approach that prioritizes moderation over hasty implementations to ensure the stability and security of the network.
At this point, Buterin stated that a new plan is underway to increase the scalability of Ethereum at Layer 1 level by ten times, and that this step will make the network faster and more efficient.
The founder of ETH stated that this step aims to provide a sustainable solution to the bottlenecks caused by the slowdown, drawing attention to the current issues of the network.
Buterin also added that there will be a 10-fold increase in Layer1's scalability within the next year and a bit more.
"Ethereum will expand Layer 1 by about ten times within a year (L1)."
This anticipated increase in scalability is likely to reduce transaction fees and latency, making Ethereum more attractive to DeFi and NFT investors.
The smooth progress of the process announced by Vitalik Buterin is expected to allow Ethereum to reach more users on a global scale and positively reflect on its price.
*It is not investment advice.
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Ethereum (ETH) Founder Vitalik Buterin has announced a new Road Map that will bring a 10x increase!
Ethereum (ETH) co-founder Vitalik Buterin, made exciting statements about the future of the network at an event held in Prague, ETHGlobal Prague Conference.
Buterin announced that a series of innovations are on the way to increase the scalability of Ethereum and improve the functionality of the network.
Buterin emphasized the importance of a balanced approach that prioritizes moderation over hasty implementations to ensure the stability and security of the network.
At this point, Buterin stated that a new plan is underway to increase the scalability of Ethereum at Layer 1 level by ten times, and that this step will make the network faster and more efficient.
The founder of ETH stated that this step aims to provide a sustainable solution to the bottlenecks caused by the slowdown, drawing attention to the current issues of the network.
Buterin also added that there will be a 10-fold increase in Layer1's scalability within the next year and a bit more.
This anticipated increase in scalability is likely to reduce transaction fees and latency, making Ethereum more attractive to DeFi and NFT investors.
The smooth progress of the process announced by Vitalik Buterin is expected to allow Ethereum to reach more users on a global scale and positively reflect on its price.
*It is not investment advice.
Follow our Telegram group, Twitter account, and Youtube channel for exclusive news, analyses, and on-chain data! Also, start live price tracking immediately by downloading our Android and IOS applications!