Reading Prerequisites:
- Vitalik Buterin is the co-founder of Ethereum.
- Ethereum is the second-largest cryptocurrency by market capitalization after Bitcoin
- In September 2022, Ethereum underwent a significant upgrade known as “The Merge,” transitioning from a proof-of-work to a proof-of-stake consensus mechanism.
Co-founder of the Ethereum Blockchain Vitalik Buterin announced that Ethereum mainnet is on track for a significant scalability upgrade over the next 12 months.
He made this comment at the ETHGlobal Prague conference.
Buterin says the network is expected to achieve a tenfold increase in scalability; a major milestone for Ethereum’s development roadmap.
According to Buterin, after the upgrade, the Ethereum network will enter a temporary “pause period”, to ensure stability and assess the impact of the scaling improvements.
Ethereum (ETH) surpassed the $2,500 mark, trading at approximately $2,500.26 USDT at the time of this writing.
