{"id":17832,"date":"2024-10-17T10:44:33","date_gmt":"2024-10-17T07:44:33","guid":{"rendered":"https:\/\/forklog.com\/en\/vitalik-buterin-identifies-ethereums-primary-challenge\/"},"modified":"2024-10-17T10:44:33","modified_gmt":"2024-10-17T07:44:33","slug":"vitalik-buterin-identifies-ethereums-primary-challenge","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/vitalik-buterin-identifies-ethereums-primary-challenge\/","title":{"rendered":"Vitalik Buterin Identifies Ethereum&#8217;s Primary Challenge"},"content":{"rendered":"<p>Ethereum co-founder Vitalik Buterin has identified the lack of a unified ecosystem as the network&#8217;s most pressing issue. He made this statement at the Shanghai Blockchain Week 2024, according to Colin Wu.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Vitalik said at the 2024 Shanghai Blockchain Week that the main problem of Ethereum now is the lack of a unified ecosystem. Ethereum is now like 34 different chains. Ethereum&#8217;s future goals include achieving more than 100,000 TPS through L2, completing transfers from any chain to\u2026<\/p>\n<p>\u2014 Wu Blockchain (@WuBlockchain) <a href=\"https:\/\/twitter.com\/WuBlockchain\/status\/1846740082377781573?ref_src=twsrc%5Etfw\">October 17, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The current protocol-based space resembles 34 different blockchains, the programmer noted.<\/p>\n<p>As long-term development goals for Ethereum, he mentioned:<\/p>\n<ul class=\"wp-block-list\">\n<li>achieving throughput of over 100,000 <span data-descr=\"transactions per second\" class=\"old_tooltip\">TPS<\/span> through layer 2 solutions;<\/li>\n<li>completing transactions between any chains within two seconds;<\/li>\n<li>a unified interface.<\/li>\n<\/ul>\n<p>Buterin also mentioned tasks of improving the <span data-descr=\"Ethereum Virtual Machine\" class=\"old_tooltip\">EVM<\/span> and enhancing link security.<\/p>\n<p>In a previously published essay on the blockchain&#8217;s &#8220;potential future,&#8221; he emphasized the importance of supporting solo staking to accelerate transaction processing and ensure network security.<\/p>\n<p>Meanwhile, Ethereum stakers&#8217; total revenue has declined due to decreased network activity, analysts at <a href=\"https:\/\/www.theblock.co\/post\/321613\/ethereum-staker-revenue-drops-30-since-march-peak-as-onchain-activity-slows\">The Block<\/a> noted. In September, the figure was $174 million compared to a peak of $247 million in March\u2014a drop of approximately 30%.<\/p>\n<p>Transaction fee volume in the first month of autumn was $35.5 million, whereas in March it reached $62.4 million.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"301\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Ethereum-Block-Validator-Revenue-Monthly-Google-Chrome-1024x301.jpg\" alt=\"Ethereum-Block-Validator-Revenue-Monthly-Google-Chrome\" class=\"wp-image-243357\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Ethereum-Block-Validator-Revenue-Monthly-Google-Chrome-1024x301.jpg 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Ethereum-Block-Validator-Revenue-Monthly-Google-Chrome-300x88.jpg 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Ethereum-Block-Validator-Revenue-Monthly-Google-Chrome-768x226.jpg 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Ethereum-Block-Validator-Revenue-Monthly-Google-Chrome.jpg 1487w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Data: The Block.<\/figcaption><\/figure>\n<p>At the same time, the number of validators continues to grow, reaching 1.09 million.<\/p>\n<p>The deflationary mechanism of burning part of Ethereum&#8217;s fees is functioning, but signs of a reversal are evident, experts noted. Following The Merge hard fork, the annual rate of coin supply reduction was at -0.06%, which meant the removal of 861,000 ETH from circulation.<\/p>\n<p>The highest burn rate was recorded on April 5 at -0.38%, and it has been steadily declining since.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/32-Gwei-2625-ultrasound.money-Google-Chrome.webp\" alt=\"32-Gwei-2625-ultrasound.money-Google-Chrome\" class=\"wp-image-243358\"\/><figcaption class=\"wp-element-caption\">Data: <a href=\"https:\/\/ultrasound.money\/\">ultra sound money<\/a>.<\/figcaption><\/figure>\n<p>Implementation of EIP-4844 during the <a href=\"https:\/\/u1f987.com\/en\/news\/ethereum-developers-activate-dencun-hard-fork-on-mainnet\">March hard fork<\/a> Dencun significantly reduced fees for L2 solutions, especially on Rollups technology. This led to a decrease in gas consumption on the network.<\/p>\n<p>In September, a community member under the pseudonym Cygaar proposed a solution to restore the ETH burn rate. Not everyone agreed with his idea.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum co-founder Vitalik Buterin has identified the lack of a unified ecosystem as the network&#8217;s most pressing issue. He made this statement at the Shanghai Blockchain Week 2024, according to Colin Wu. Vitalik said at the 2024 Shanghai Blockchain Week that the main problem of Ethereum now is the lack of a unified ecosystem. Ethereum [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":17831,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[46,200],"class_list":["post-17832","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ethereum","tag-vitalik-buterin"],"aioseo_notices":[],"amp_enabled":true,"views":"11","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/17832","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=17832"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/17832\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/17831"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=17832"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=17832"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=17832"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}