Vitalik Buterin Calls Ethereum Will Continue To Develop In The Long-Term

Ethereum cryptocurrency. (Photo; Doc. Unsplash)

JAKARTA After the improvement of The Merge Ethereum in mid-September, which marked the number two crypto transition switching to Proof-of-Stake (PoS) from the Proof-of-Work (PoW) model. Recently, Ethereum founder Vitalik Buterin stated that his party will continue to develop Ether for the long term.

This statement was made by Buterin in the Bankless podcast. He mentioned two top priorities for the ETH community after Ethereum Merce. One of them is scalability.

I think there are two big priorities. One of the priorities is to get a scaling. And what I look forward to is that across all levels of the ecosystem, such as setting up a full Ethereum protocol, which includes things like the harding protocol, setting up the roll-up yourself to be fully ready for users, preparing applications on top, preparing good bridge infrastructure between them, preparing all wallets to support them... Not only helping the transition to Ethereum which is fully rolled-up," Vitalik Buterin said, quoted by DailyHodl.

Furthermore, Buterin stated that the Ethereum transition from PoW to energy-intensive PoS which is claimed to be environmentally friendly is an important transition for the development of smart-contract platform ecosystems.

"I think this is a transition that must occur and I think to some extent this is an unavoidable transition because along with ecosystem growth, costs to change things are increasing, and then there are all these regulatory issues and a lot of stakeholders." he added.

With the success of The Merger, he emphasized that Ethereum developers need not rush to make protracted protocol changes. In addition, the Ether community will also become more pragmatic over time. Even so, the Ethereum founder stated that he only had a narrow time to implement the expected changes to the Ethereum blockchain.

For information, Ethereum was officially launched on July 30, 2015. Its main coin, ETH, has finished second behind Bitcoin as the largest cryptocurrency by market capitalization. At the time of writing, ETH is trading at IDR 20,950,997 per coin. The price of ETH has increased by 5.5 percent in the last 24 hours.