Cryptoart is Vitalik and Dmitry Buterin by JeninaCrypto.

As per Vitalik Buterin, Ethereum development is ~50% of the way to being fully completed.

The first step in order to achieve ultimate scalability and decentralization is called the merge, referring to the full transition away from proof-of-work to proof-of-stake, taking place in the first half of 2022. Part two, called the surge, plans to give Ethereum increased scalability, massive bandwidth and throughput, particularly on zk-Rollups. The merge and the surge are the most important upgrades, according to Buterin, to building out the Ethereum network.

When asked to evaluate Ethereum’s progress made so far in the past six years, Buterin asserted that “we are 50% of the way there” thanks to the launch of the Beacon Chain, the London hard fork and even the rise of nonfungible tokens. But there is still a long way to go.

Once the merge and surge go through, and there is full sharding implementation, then it will supposedly be 80% complete. The roadmap, which is estimated to take another six years to complete, will lead to 100% optimization, according to Buterin.

The next phases include the verge, enabling more users to run nodes and essentially “democratizing access to the broadest number of participants possible to anyone and everyone who wants to verify the validity of the chain,” said Buterin. Following the verge are the purge and splurge phases, referring to the elimination of historical data and the addition of miscellaneous upgrades, respectively.

Buterin summarized his ideal scenario for an Ethereum 2.0 that doesn’t sacrifice decentralization for scalability:

“Leave the past in the past and create an Ethereum that actually becomes simpler and simpler over time.”

Buterin admitted that Etherum is “not yet the layer-one system that is ready for direct mass adoption” while reiterating the need for layer-two scaling solutions and reduced transaction fees. He does, however, note the “amazing” progress that Ethereum has seen in layer-two scaling over the past year and the community behind it that is “willing to continue fighting for it.”

Source: Cointelegraph.

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