Ethereum

In a recent <a href="https://vitalik.eth.limo/general/2023/06/09/three_transitions.html" rel="noopener noreferrer nofollow">blog post</a>, Ethereum co-founder Vitalik Buterin discussed three crucial transitions that the Ethereum network needs to undergo in order to mature and effectively serve its users. These upcoming transitions are comprised of three core parts, Layer 2 (L2) scaling, wallet security, and privacy.The blog was shared by Buterin on his official Twitter account:<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/9e525bb093164fd2adb414a9f02edd9f.png" />L2 scaling involves moving everyone to rollups, which is essential to handle the high transaction costs on the Ethereum network. Without this transition, Buterin warned that products aiming for mass markets might abandon the blockchain and resort to centralized solutions.The wallet security transition implies moving everyone to smart contract wallets. This is crucial as it impacts how users feel about storing their assets. Failure to achieve this transition could lead to more users gravitating towards centralized exchanges.The privacy transition aims at ensuring privacy-preserving funds transfers and developing privacy-preserving features such as social recovery, identity, and reputation systems. Without this, users may move to centralized solutions which offer at least some form of data privacy.Read full article at <a href="https://cryptotale.org/ethereums-future-hinges-on-three-major-transitions-outlines-founder/" rel="noopener noreferrer nofollow">CryptoTale.</a>

Ethereum's Future Hinges on Three Major Transitions, Outlines Founder

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