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Vitalik Buterin interprets the ten-year development of Ethereum and outlines the future vision.
Ethereum Founder Reflects on Development Journey and Looks to the Future
Recently, Ethereum co-founder Vitalik Buterin gave a speech at a blockchain summit, reviewing the development history of Ethereum and looking ahead to its future development.
Buterin stated that the Ethereum project started in November 2013, the foundation was established in 2014, and the mainnet went live in July 2015. Over the past decade, the main goal of Ethereum has been to improve its technology. Although the core philosophy has remained unchanged, Ethereum has indeed made significant progress over these ten years.
He pointed out that Ethereum has made significant progress in several key areas:
Transaction fees: Through Layer 2 solutions, transaction fees have been reduced from early highs of hundreds of dollars to around $0.01 now, greatly expanding the application scenarios.
Transaction confirmation speed: By optimizing the protocol, most transactions can now be confirmed within a few seconds, greatly enhancing the user experience.
Application Interface: Evolved from the early crude interface to a user-friendly interface similar to mainstream applications, reducing the barriers to use.
Smart Accounts and Account Abstraction: Provides a more flexible and secure way of account management.
Zero-knowledge proof technology: From theoretical research to widespread application, it has brought breakthroughs in fields such as privacy protection and identity verification.
Looking ahead, Buterin proposed several key goals for Ethereum:
Achieve a transaction processing capability of over 100,000 per second through Layer 2.
Achieve transfers between any Ethereum chains within 2 seconds.
Create a unified user experience.
Expand the technical infrastructure of Ethereum, not limited to EVM.
Buterin emphasized that the Ethereum ecosystem is maturing, and the main challenge it faces now is how to achieve better integration. He encourages developers to leverage the latest technologies to try new ideas, as current technological advancements may enable previously failed projects to succeed.