Four key benchmarks that Ethereum hopes to achieve in the coming years were outlined by Vitalik Buterin in his speech in Shanghai. The future of Ethereum and its position as the leading smart contract platform are expected to be shaped by these key achievements.
More scalable network
The first goal is over 100,000 transactions per second through layer 2 solutions. By processing a large number of transactions, this will greatly improve Ethereum's scalability and make it much more efficient for decentralized applications (dApps). To do this, L2 technologies like rollups are needed and as they continue to develop, Ethereum could reach a new level of widespread use.
Cross-chain transfers in under two seconds is the focus of the second goal. As Ethereum moves closer to a seamless multi-chain ecosystem, Buterin emphasized the importance of improving the user experience where cross-chain transactions become near-instantaneous. This would also reduce the complexity users currently face when navigating multiple chains.
Ensuring a consistent user experience across the entire ecosystem is the third standard. While Ethereum has made significant progress, Buterin points out that there is still a need to improve the security and ease of use of interacting with the ecosystem. For example, in cross-chain operations, mistakes can be costly. Ethereum wants to simplify and improve cross-chain operations by introducing new standards such as the ERC-7683 protocol.
Improve security
Ultimately, the Ethereum Virtual Machine (EVM) relies on cross-chain security. According to Buterin, achieving strong cross-chain security is critical. Cross-chain security is essential for Ethereum to succeed in the long term, especially as more and more decentralized applications and protocols rely on it.
In the long run, these developments could have a major positive impact on Ethereumâs price by boosting bullish sentiment. The combination of these technologies will enhance Ethereumâs functionality and overall user experience, making it increasingly attractive to developers and institutional investors.
As Ethereum continues to face resistance like at $2,800 (as the chart shows), we could see short-term volatility. But reaching these benchmarks could push Ethereumâs price much higher than it is now, securing its dominance in the blockchain industry.