Ethereum’s founder, Vitalik Buterin, has put forth a new proposal aimed at refining the network, as the timeline for test network updates becomes increasingly clear. Despite a sluggish cryptocurrency market, Ethereum continues its forward march. Recent discussions highlighted the modifications introduced by the Pectra upgrade. What new suggestions does Buterin offer, and when can users expect these updates to be tested?
What is the Pectra Upgrade?
The Pectra upgrade is set for imminent activation on Ethereum’s test networks. Following successful trials on two test environments, it will then be launched on the main network. Specifically, the rollout in Holesky is planned for February 25, while Sepolia will see its update on March 5.
How Does Ethereum Plan to Scale?
The Ethereum network has recently raised its gas limit from 30 million to 36 million, enhancing its capacity by 20%. In today’s discussions, Buterin questioned whether these higher limits are indeed optimal. He emphasized that once these limits are set, reversing them becomes significantly harder than simply increasing them, highlighting the critical need for effective solutions before any further adjustments.
– Buterin proposes increasing Layer 1 capacity to simplify and secure applications.
– A tenfold scaling goal for Layer 1 aims to boost the Ethereum ecosystem.
– Critics note that sub-networks may be undermining Ethereum’s performance, making a sole reliance on Layer 2 solutions impractical.
– Enhanced Layer 1 capacity could lead to lower transaction fees and higher user interest.
With an upgraded capacity to handle more transactions per block, fees should drop to more manageable levels. However, if demand rises at a similar pace, additional advancements will be essential. A pivotal aspect is ensuring that the main Ethereum network can effectively compete with Layer 2 solutions to enhance overall functionality and attract user engagement.
