Vitalik Buterin’s ‘The Surge’ roadmap targets for 100K TPS to improve network capacity and interoperability, propelling the ETH price surge.
Ethereum co-founder Vitalik Buterin recently outlined ‘The Surge,’ a key phase in Ethereum’s roadmap to enhance the network’s scalability and transaction capabilities.
This initiative seeks to enable the blockchain to process more than 100,000 transactions per second (TPS), addressing the ongoing scalability issues that have long affected blockchain technology.
Vitalik Buterin’s Ambition: A 100K TPS Future with Ethereum’s ‘The Surge’
In a blog post shared on his X account, Buterin detailed a bold plan for Ethereum to boost its network capacity dramatically.
The ‘Surge’ phase is focused on preserving the network’s decentralization and security while raising its transaction throughput to over 100,000 TPS.
This development is crucial as Ethereum faces competition from newer blockchains offering faster speeds and lower transaction costs.
To achieve these high transaction rates, Buterin highlighted the introduction of data availability sampling and improvements in rollup technology.
Data availability sampling will minimize the amount of data each node needs to process, increasing the network’s capacity without sacrificing its decentralized structure.
Additionally, the deployment and growth of trustless rollups will ensure that these layer 2 solutions offer the same level of security as the Ethereum mainnet.
Buterin also called for more extensive integration of Layer 2 protocols built on Ethereum, creating a unified ecosystem for users.
This integration would simplify interactions across networks, reducing the challenges of transferring assets between different systems.
He stressed,
“If we are serious about the idea that L2s are part of Ethereum, we need to make using the L2 ecosystem feel like using a unified Ethereum ecosystem.”
By merging Ethereum’s layer 1 and layer 2 networks, the blockchain will become more scalable, user-friendly, and attractive to new developers and consumers.
Economic Impact and ETH Price Market Response
Following Buterin’s statements, Ethereum’s price saw a positive reaction, rising by 10.22% in the past week. ETH also reached $2,625 and continues to gain momentum in response to these promising developments.
Speculation has grown around the potential for ETH to hit $5,000 in 2024, fueled by the proposed technical upgrades that aim to improve scalability and efficiency. These enhancements could lead to a supply shortage, further boosting investor confidence.
Additionally, Ethereum futures have gained traction following their inclusion in Robinhood’s latest trading offerings, alongside Bitcoin and other commodities, expanding trading options for users.
