Vitalik’s Plan for Ethereum shows game has just begun

During the recently held Ethereum Foundation Developer Conference code-named Devcon3, Vitalik Buterin unveiled his vision for the next stage of development in world’s second largest cryptocurrency by market cap. The biggest takeaway was solution to tackle the challenge of scalability which has been raising concerns on the future of Ethereum. The broad use case of ethereum as a platform, allowing developers to build applications using smart contracts has huge upside potential. However, the platform needs to be able to process the transactions faster without causing the blockchain network to get throttled. Vitalik has suggested a model of sharding which will allow each node on the network to store only a part of the complete ledger without the need of downloading the entire copy, while communicating with other nodes for validating the transactions. However, there are potential risks associated with this approach like spread of false information between nodes.  Buterin believes that this is likely the solution and will provide more stability to the network in long term.

Apart from this there have been other interesting announcements like stateless clients for quicker syncs, eWASM for running ethereum in a web browser and upgrades to Ethereum Virtual Machine (EVM) used for compiling smart contract code. To know more visit the live stream video recording: Devcon3 Day 1 Stream

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