Ethereum is one of the biggest and most incredible inventions of the last decade. Since its founding between 2013 and 2014, Ethereum has become more than just a cryptocurrency; it has become a vibrant ecosystem, a decentralized platform that enables smart contracts, decentralized applications (dApps), and tokens, including the second-most valuable one in the world.

One of the most important events in Ethereum history was the Merge, which further revolutionized Ethereum beyond what it was. But there’s always room for improvement, and the man who started it all has also come to show us what’s in store for Ethereum. 

Vitalik Buteriin, Ethereum’s co-founder and the man who released the whitepaper that started the Ethereum we know today, published a blog post on October 14 in which he highlighted various areas where Ethereum could see major improvements. He touched on everything from faster transaction speeds to better security and even improved accessibility for solo stakes. 

Since the Ethereum Merge in 2022, when the protocol was transitioned from proof-of-work to proof-of-stake (PoS), Vitalik has had a vision for how Ethereum can do even better, and he has finally shared his thoughts with the world. 

According to Buterin's release, one of the most critical areas to improve is the speed of transactions on Ethereum. Currently, transactions can take up to 15 minutes, which is not ideal for a platform like Ethereum since it’s the world's most heavily trafficked blockchain network. A lag of that magnitude can also lead to congestion in the network.

Among Buterin’s proposed solutions for this issue was “single-slot finality,” which he had previously proposed in July. Buterin believes single-slot finality could drastically reduce the time it takes to complete transactions on the network, making Ethereum more competitive and even improving its overall user experience. 

Buterin also mentioned the need to make Ethereum more accessible to more users. He admitted that the current 32 Ether staking requirement limits many individuals looking to participate on the network. He suggested that the current minimum staking should be reduced to just 1 ETH for more onboarding and contribution to Ethereum’s security decentralization and governance. 

Buterin also emphasized the importance of improving Ethereum’s security and protecting the network from attacks. He proposed implementing a “single secret leader election,” a cryptographic technique that makes it harder for attackers to disrupt the network. 

The Ethereum co-founder also wants to secure the network against quantum computing threats, which Ethereum will likely face in the future. He wants to increase the quorum threshold and recover from 51% attacks.

Apart from Buterin’s post, another event many Ethereum users are looking forward to is the Prague-Electra (Pectra) upgrade, the next significant milestone in Ethereum’s development Roadmap. The upgrade is scheduled to go live in Q1 2025, and many users are wondering whether some of Buterin’s suggestions will be implemented by then. Currently, there’s no news of that from Ethereum. We’ll all just have to wait and watch.

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