While the Ethereum community readies for the Altair upgrade, its founder Vitalik Buterin gave a speech at the Wanxiang Blockchain Summit, where he joined a panel discussion and offered some insights into Ethereum’s future plans.
Buterin first talked about Ethereum’s most important achievements in 2021. He was forthright in highlighting the advances made with Proof-of-Stake consensus technologies and resource expansion.
“They are making a lot of efforts to integrate and combine with the current main chain, and they will soon enter the testing phase,” he stated according to a Chinese media source.
He also had something to say about roll-ups, noting that they’ve already begun. He stated that participants can put and take money from the networks as part of roll-up projects. Buterin noted about scalability of this feature and said, “For example, a single Roll-up can achieve 10 times the expansion…”
Ethereum’s priorities in 2022: Data sharding, PoS transfer
In his speech, Buterin also talked about Ethereum’s roadmap and priorities in 2022. He told that he believes data sharding might be around in one or two years.
He said: “The first is the transfer of PoS, as well as sharding and merging, and the transfer of the current Ethereum to the PoS chain. It will further expand the capacity so that people do not need to pay high transaction fees when using the blockchain.”
When it comes to investors in the Ethereum ecosystem, Buterin emphasized the need for investment. He also made a point of warning viewers against those who were seeking for quick profits before departing.
“I believe we will return to VC in the future to release additional projects, therefore VC is clearly an essential and significant part of our business.”
He also stated that he still believes venture capital is “indispensable.”
On the topic of the Ethereum Foundation, however, Buterin stated that it lies at the “edge” of the ecosystem rather than in the center. He added,
“The role of the foundation in the ecology is to motivate and encourage more and more projects, while subsidizing more and more projects.”
Vitalik said at the meeting that both DeFi and NFT are developing very well, but people are making DeFi very complicated, smart contract risks may exceed the benefits. He believes that the most useful agreement is the simplest one.
— Wu Blockchain (@WuBlockchain) October 27, 2021
He also talked about NFTs and reportedly said that these assets are developing well and have value. However, he emphasized that it’s too early to determine whether NFTs are financially viable in their current form.
He told that everyone should wait patiently so that we can really see and understand what the NFT long-term sustainable market should be like.