What will Ethereum do next after “The Merge”?

The Ethereum Foundation will phase out “ETH2” as it merges with ETH1 into a single chain. When that happens, the critical Shanghai hard fork will shape Ethereum. But what will the network do after the merger? In one interview Recently, co-founder Vitalik Buterin explained the elements of Ethereum’s roadmap.

“The first is The Merge. The second is The Surge – sharding and some scalability improvements.”

Lots of progress

After the merger ended, Buterin noted that all accounts, contracts, and transactions will run on the PoS chain instead of PoW.

“We already have the Kintsugi network and testnet. After 6 weeks of running, the only and biggest thing I haven’t tested is Optimism Sync.

The ETH Foundation recently attracted attention after announcing the Kintsugi merge testnet in December. The main purpose of the testnet is to test and identify issues with post-merger Ethereum. As the ETH mainnet merged with the Beacon Chain, Buterin highlighted the third phase, “The Verge.”

He explained that this phase is about Verkle trees, a technology that makes it easier to verify the Ethereum chain and run nodes.

The source: medium

“Fourth is The Purge, which deletes some of the story and some log material that we previously used but no longer need. Making the Ethereum protocol simpler.”

Priority to increase TPS

However, the big upgrades of 2021 will become the backbone of the road ahead. Buterin recalls that the Berlin and London hard forks were the most important. According to Buterin, the EIP-1559 upgrade in the London hard fork will not only focus on reducing transaction fees but also on speeding it up as long as it is used.

So far, Ethereum seems to have burned 1,792,379 ETH after the London upgrade at press time statistical. At the same time, the difficulty bomb will also be postponed to June 2022. According to the operator:

“Of course, the Difficulty Bomb can be delayed if absolutely necessary, but we still have a bit of time pressure.”

This is not uncommon as the EIP-4345 difficulty bomb also lags. The launch was planned for December 2021 and was then pushed back to May 2022. However, as Ethereum continues to accelerate, PBS appears to be in the spotlight, according to Buterin. With the roadmap in the near future, Buterin stated:

“The fifth is The Splurge, which includes all other major upgrades, such as: B. Account abstraction, PBS (PBS is the topic we are focusing on at the moment), EVM upgrades… But if present, we will merge and shard to solve the biggest and most important problem.”

Still the king of altcoins?

ETH price action appears to be recovering. At press time, ETH continues to hold above the key $3,000 level and is up almost 4% on the 24-hour chart. However, Ethereum, once the leader in the DeFi market, is also rapidly losing its Total Value (TVL) to its peers.

On DeFillama, the network currently dominates only about 61% of TVL.

The source: defillama

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