{"id":13317,"date":"2022-07-22T03:06:13","date_gmt":"2022-07-22T03:06:13","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/ethereum-will-only-be-55-complete-after-merge-vitalik-buterin-says\/"},"modified":"2022-07-22T03:06:13","modified_gmt":"2022-07-22T03:06:13","slug":"ethereum-will-only-be-55-complete-after-merge-vitalik-buterin-says","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/ethereum-will-only-be-55-complete-after-merge-vitalik-buterin-says\/","title":{"rendered":"Ethereum will only be 55% complete after ‘merge’, Vitalik Buterin says"},"content":{"rendered":"

(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum & Crypto News )<\/b>
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Ethereum network will be 55% complete after the \u2018merge\u2019, says co-founder Vitalik Buterin.<\/em><\/strong><\/p>\n

Ethereum co-founder Vitalik Buterin has hinted at the network hitting the 55% roadmap completion level after its much-anticipated \u201cMerge.\u201d<\/p>\n

The countdown to the switch from proof-of-work (PoW) to proof-of-stake (PoS) is now ticking after last week\u2019s announcement of 19 September as the date it finally happens.<\/p>\n

Buterin was\u00a0speaking<\/u><\/a> at the fifth annual Ethereum Community Conference (EthCC) held in Paris.<\/p>\n

According to him, the road towards proof-of-stake has been long and arduous for the community.<\/p>\n

\u201cThe Ethereum protocol right now is in the middle of this long and complicated transition, and it\u2019s a transition toward becoming a system that is more powerful and robust in so many ways<\/em>,\u201d he said.<\/p>\n

He then talked of the \u201cbig five\u201d developmental stages of the Ethereum protocol roadmap \u2013 the merge, the surge, verge, the purge and the splurge \u2013 with the PoS switch reflecting the \u201cMerge\u201d and sharding representing the \u201cSurge.\u201d<\/p>\n

Only 55% complete<\/h2>\n

The merge, which is the transition so far, has achieved much and the decentralisation goal is not far off. However, there\u2019s still much to do, with the network\u2019s overall roadmap likely to hit only the \u201c55% complete\u201d level post-merge.<\/p>\n

Completing the transition, he explained, involves \u201cdeep changes,\u201d which he says include monetary policy (reduction of issuance), security model and transaction inclusion process.<\/p>\n

Scalability is also going to be a big part of Ethereum\u2019s key features \u2013 especially as the roadmap moves to the \u201cSurge.\u201d<\/p>\n

As is the case, Ethereum 2.0, or ETH 2.0, will usher in the era of 100,000 transactions per second, with shard chains astronomically improving transaction per second (TPS) count from the current average of 30 TPS.<\/p>\n

You can watch Vitalik Buterin\u2019s EthCC address in the video below.<\/p>\n