Following the tenth anniversary of Ethereum’s mainnet, the Ethereum Foundation, the organization behind the blockchain, unveiled a development plan for the next decade.
The document was authored by lead network developer Justin Drake. He began by highlighting the protocol’s 100% uptime since launch, the diversity of clients, and the 35.7 million ETH worth $130 billion locked in staking.
Drake believes Ethereum is poised to become the “foundation of the internet of value.”
“[The blockchain] must endure everything: nation-states, quantum computers. Whatever happens. Call it fort mode. If the internet works, then Ethereum works. If the world is online, then the world is on-chain,” stated the programmer.
Acceleration
Drake identified the generation of new resources as a primary necessity for the network. Scaling L1 and expanding blocks are strategic goals.
He mentioned that a slight increase in performance is expected within 6-12 months. In the long term, the developer envisions the blockchain transitioning into “beast mode”:
- for the first layer — consumption will be 1 gigagas/s (providing 10,000 TPS);
- for the second layer — 1 teragas/s (1 million TPS).
To enhance decentralization, there are plans to integrate zkVM in real-time at the execution layer and DAS at the data layer. Drake also suggested “full chain verification on every browser, wallet, and phone.”
Updates and Security
According to the programmer, the team is working on improvements to the protocol’s three main components.
At the consensus level, the introduction of the Beacon Chain 2.0 update is planned, which will provide enhanced security and decentralization, as well as finalization “in a matter of seconds.” Previously, the initiative was called Beam Chain.
The data layer will be improved with BLOB 2.0. The upgrade includes post-quantum BLOBs and granular object size definition for ease of development in the calldata format.
The execution layer will be complemented by EVM 2.0 — a minimal, SNARK-friendly instruction set that enhances performance while maintaining compatibility with the virtual machine.
“[All blockchain components] have been reimagined from first principles. Together they unlock the possibilities of fort mode and beast mode. The goal is abundant performance while adhering to the constraints of immutable continuity, maximal rigidity, and refreshing simplicity,” added Drake.
The ideal solution to counter impending threats — quantum computers and the rise of SNARK protocols — was identified by the developer as hash-based cryptography.
On May 7, the network of the second-largest cryptocurrency by market capitalization activated the major Pectra upgrade. In July, the timeline for the next Fusaka hard fork was announced — it will be deployed in November.