- Buterin proposed solutions to solve Ethereum’s core problem.
- Meanwhile, the Bankless co-founder predicted ETH would go to $10,000.
At the Shanghai International Blockchain Week 2024Ethereum [ETH] co-founder Vitalik Buterin revealed what he saw as the network’s biggest problem—fragmentation of ecosystems.
If reported by crypto media company Wu Blockchain on
Vitalik’s solution to unify Ethereum
In response to this statement, Buterin went to X and detailed his vision for Ethereum’s next possible upgrade, “The Surge.”
One of the main objectives of the upgrade is to enable Ethereum to process more than 100,000 transactions per second (TPS) in both Layer 1 (L1) and Layer 2 (L2) solutions.
Source: Vitalik Buterin/X
In addition, Buterin emphasized the importance of maintaining the decentralization and robustness of Ethereum’s L1. This would ensure that it remains resilient and secure even as the network scales.
He also emphasized that some L2s should fully inherit Ethereum’s fundamental properties. These include trust, openness and resistance to censorship.
Another crucial aspect of The Surge is maximizing interoperability between L2s.
Buterin believes that if L2s are to be considered a true extension of Ethereum, the experience of using the L2 ecosystem should feel seamless and unified, as if interacting with a single ecosystem.
The Surge marked the second part of Ethereums future upgrades.
Earlier this week, AMBCrypto marked the co-founder’s proposed improvements to Ethereum’s Proof-of-Stake (PoS) system. These changes align with his broader vision for the continued evolution of the platform.
ETH posts double-digit gains
Amid these developments and the ongoing ‘Uptober’ buzz, the price of ETH has staged a recovery from its early October lows.
At the time of writing, the altcoin was trading at $2,631, up 10% in the past 24 hours.
Source: TradingView
The RSI reading of 60.50 indicated that there was still room for growth as ETH is far from overbought.
Moreover, the OBV moved higher to close at 42.894 million. This gave further validation to the bullish momentum.
If the buying pressure continues, ETH bulls are likely to turn around the USD 2,700 resistance in the near future.
Ethereum’s $10K Prospects
As Ethereum continues its ambitious journey, Ryan Sean Adams, co-founder of Bankless, remains highly optimistic about the future of the asset. Adams recently noted its untapped potential. He wrote on X,
“ETH to $10k. The market vastly underestimates Ethereum rn.”
With upcoming changes set to improve the network, Adams’ projection may not be far-fetched.
Credit : ambcrypto.com
