Ethereum co-founder Vitalik Buterin weighed in on Ethereum’s lack of a unified system in his latest remarks. During the 2024 Shanghai Blockchain Week, Vitalik stated that Ethereum’s current biggest issue is the absence of a cohesive ecosystem.
Vitalik aims that in the future, Ethereum can transcend EVM, achieve safe linkages, surpass 100,000 TPS through L2, complete transfers from any chain to any other chain in less than two seconds, and provide a unified user experience.
The remarks come at a time when Ethereum has been working constantly on how to improve its ecosystem to stay the number one blockchain in the realm.
This news likely landed as a positive for market participants as the price of Ethereum rose over 0.5%. At the press time, it is up over $2,623.98 level, showing optimism.
Ethereum Plans Various Additions To Blockchain
Previously, Buterin had expressed his desire to ensure a faster block mining. His two major goals were to achieve single-slot finality (blocks being confirmed in a single slot) and democratize staking by lowering the staking requirement to 1 ETH.
He proposed three possible solutions to accomplish this: improving the signature aggregation method, include the Orbit committee structure, and implementing a two-tier staking plan.
Additionally, transaction fees on Ethereum layer-2 (L2) networks, according to Buterin, have decreased to “basically zero,” a dramatic departure from prior charges that ranged from $10 to $0.50. This decrease is ascribed to rollups’ progress and heightened security, namely to Optimism and Arbitrum.
He pointed out that Optimism and Arbitrum—two noteworthy Ethereum layer twos—have attained this crucial security benchmark. Rollups are becoming increasingly safer and more affordable as a result. It is believed that this breakthrough would make Ethereum more widely accepted by increasing transaction efficiency and cost effectiveness.
Will Ethereum Keep Rising In The Future?
Given the current optimism surrounding the Ethereum blockchain, it is likely that investors will keep riding the positive high in the future. In the coming month, Ethereum is expected to increase to reach $ 2,797.59 mark.
According to technical indicators, the Fear & Greed Index for ETH is currently reading 71 (Greed), indicating a neutral mindset. Over the previous 30 days, Ethereum had 17/30 (57%) green days and 4.35% price volatility.
Ethereum’s 200-day SMA will have dropped during the coming month, reaching $ 2,964.26. During the same time, Ethereum’s short-term 50-Day SMA is predicted to reach $ 2,666.05.
The momentum oscillator known as the Relative Strength Index (RSI) is a widely used indicator that indicates when a cryptocurrency is overbought (above 70) or oversold (below 30). The RSI rating for ETH is currently 58.14, indicating a neutral position in the market.