In 2024, Vitalik Buterin, co-founder of $ETH , has presented a revolutionary vision for the network with his plan called “The Surge”, which aims to increase processing capacity to 100,000 transactions per second. This milestone would be possible thanks to the implementation of layer 2 solutions and the integration of technological improvements such as SNARKs and EIP-4844, which seek to reduce transaction costs and improve scalability without compromising security or decentralization.
Ethereum is currently facing limitations in terms of its processing capacity, which has led to congestion issues and high transaction costs during times of high network activity. Buterin and his team have identified that, in order for Ethereum to remain a leader in the blockchain ecosystem and achieve mass adoption, it is essential to address these challenges. Hence, "The Surge" focuses on scalability as a priority, allowing more decentralized applications (dApps) to run efficiently on the platform.
One of the key components of this vision is the integration of layer-2 solutions, which allow transactions to be made off the Ethereum mainchain and then recorded on the mainnet more efficiently. This strategy not only increases transaction speed, but also reduces the processing load on the main blockchain, alleviating congestion issues.
Furthermore, the implementation of SNARKs (succinct non-interactive zero-knowledge arguments) will improve the security and privacy of transactions, ensuring that the network remains robust and resistant to attacks. Meanwhile, EIP-4844 will introduce new processing features that will further improve the network’s ability to handle large transaction volumes without significantly increasing costs.
With these advancements, Buterin believes Ethereum is on track to become the most efficient and scalable blockchain network in the world. By overcoming current technical challenges, the network will not only be able to handle a massive amount of transactions, but will also become more accessible to users and developers looking to build decentralized applications on a high-capacity platform.
Buterin’s ambitious plan for Ethereum has the potential to radically change the cryptocurrency landscape, making the network faster, more efficient, and ready to support the mass adoption that the blockchain ecosystem is waiting for.
