Vitalik Buterin, Ethereum Creator, has announced that the next ETH milestone after The Merge will be The Surge, where Ethereum will be upgraded to process about 100,000 transactions per second (TPS).
Buterin spoke about how Ethereum is going through a number of essential adjustments that will ultimately enhance the system in the long run on Thursday at the EthCC conference in Paris. Buterin discussed Ethereum’s “long and complicated transition” in the opening of the speech, adding that the network was progressing toward becoming “a more robust and powerful system.”
Buterin divided the upcoming improvements to Ethereum into four phases: The Merge, the Surge, the Verge, and The Purge. The Merge refers to the network’s transition from Proof-of-Stake, which is expected to ship sometime around September 19.
The “surge” refers to the inclusion of 64 shard networks, which dispersing traffic on the main chain should ease congestion. The Purge entails deleting old data in an effort to streamline the network, while The Verge deals with the inclusion of stateless clients to make the network more decentralized.
Buterin stated that after the merge, Ethereum would be approximate “55 percent complete” with regard to the Proof-of-Stake update, also known as EIP-3675. EIP-4444, a proposal aimed at keeping historical data in execution clients, was yet another significant protocol update that Buterin emphasized.
The Ethereum creator also brought up EIP-1559, a model for burning fees that was adopted in August 2021 to stabilize gas prices.
Buterin claimed that if the various adjustments are made, Ethereum may be able to process 100,000 transactions per second (instead of the 15 or so it currently handles), and as the network becomes more scalable, Layer 2 rollups may become three times less expensive.
According to Collin Wu, per a quarterly study of 53 industry experts performed by Finder in July, bitcoin is predicted to cost $25,473 and ethereum $1,711 by the end of 2022. Only 29% believe that the bear market will end this year.
The panel predicts that BTC will be worth $25,473 by the end of 2022 before rising to $106,757 by the end of 2025. It forecasts that BTC will peak in 2022 at $35,484 and bottom out this year at about $13,676. By 2025, the forecast of $106,757 would represent a rise of nearly 420 percent, and by 2030, the forecast of $314,314 would represent an increase of roughly 1,420 percent from current prices.
Ethereum (ETH), on the other hand, is expected to cost $1,711 by the end of 2022 before rising to $5,739 by the end of 2025, according to the finders’ panel. The panel expects that ETH will bottom out this year at $675 and reach a peak of $2,673 in 2022. According to the group, ethereum may be worth $14,412 in 2030.
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