At the Blockchain conference in Taiwan, Taipei, Vitalik Buterin announced a long-term development plan for Ethereum.
As stated by Ethereum, Vitalik, most of the problems that Ethereum blockchain encountered can be categorized into several categories: scalability, security of smart deals, consensus, and privacy.
Several network updates, including Byzantium, offer some solutions to these four categories. Vitalik recently interviewed South Korean media Joong Ang, where he noted that it would take at least 2 to 5 years to completely solve the scalability problems at blockchain.
Ethereum Development Plan
In the category of scalability, Ethereum Foundation and Etherum's open-source community have made significant progress with the upcoming Casper and Plasma, the second layer of scalability solutions developed by Vitalika and Josepha Poon, the founder of Bitcoin's lightning network.
Casper is a long-term scalability solution that introduces hybrid proof-of-work (PoW) and proof-of-stake (PoS) protocols into the Ethereum blockchain network. Currently, the Ethereum network depends on the PoW protocol.
Christian Reitwiessner, a team leader for Ethereum Solidity and Ethereum's C ++ implementation, explains, a solution like PoS is necessary to eliminate user dependence, nodes and miners.
What would be the prediction of its price movement?
JP Vergne, professor of Ivey Business School, notes that the intensity of development activities is the best indicator of the price movement of some crypto currencies.
We have realized that the best indicator of the price movement of some crypto currencies is the number of development activities that are happening around it.
Ethereum is one of the few blockchain networks that has a large number of development activities and innovative solutions such as Casper, Plasma, zk-SNARKs, etc. With regard to this, we can highly assume that Ethereum will grow in 2018.
Leave your toughts in comments.
Great Post bud yeah i reckon ethereum is on the uptrend come 2018 but they are currently facing many challenges with scaling , i recently did a post on Micro Raiden going live on Ethereum Main Net .Do have a look might be something you can relate to.
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Yeah @ajkapss i totaly agree, they will have to think about second layer or some other way of scaling.
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Thank you for the post!
There are problems with ETH. But sometimes I believe that the ETH will grow soon. BTC is too expensive now and middle class will be interested in buying ETH
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