Ethereum cryptocurrency developer names main development goals

Vitalik Buterin, co-founder of Ethereum, shared his thoughts on the current state of the protocol and named the main goals of the network’s future development: increasing the speed of transactions and security, as well as expanding access to the network for more people. Buterin mentioned the Ethereum merger that took place in 2022.

This event marked the transition of the protocol from the Proof-of-Work (PoW) consensus method to the Proof-of-Stake (PoS). According to Buterin, it took Ethereum developers a lot of time and effort to realize this long-awaited merger. At the same time, there are still important points that could improve the PoS. According to Buterin, one of the main goals of Ethereum is to reduce the time for transactions. Currently, a transaction on Ethereum can take about 15 minutes, which can lead to network congestion.

Therefore, Buterin proposed to use single-slot finalization, which could significantly reduce the time to complete a transaction. This should increase the competitiveness of Ethereum and improve the user experience.

The co-founder of Ethereum believes that blockchain should be accessible to a wider audience. The current staking requirement of 32 ETH can be an obstacle for many people who want to become members of the network. Therefore, Buterin suggested lowering the minimum staking amount to 1 ETH, so that more people can contribute to the security and governance of the Ethereum.

This will increase decentralization, reducing the risk of one organization gaining excessive control over the network. Buterin also advised exploring ways to increase the resilience of Ethereum to threats from quantum computing, which could become a serious problem in the future.