Blockdaemon’s ETH ecosystem lead Freddy Zwanzger believes Ethereum will retain its management place within the crypto ecosystem over the approaching years attributable to its utility as a wise contract platform and upgrades to the community following the Merge.
Speaking to Cointelegraph in the course of the Ethereum Community Conference (EthCC) this week, Zwanzger stated:
“It’ll continue to be a leader. I mean, obviously, the first and most important smart contract platform, and that’s not going to change.”
Blockdaemon is an institutional-grade blockchain infrastructure platform that gives node operations and infrastructure tooling for blockchain tasks.
The Blockdaemon worker additionally took goal at so-called “Ethereum killers” — competing Layer 1 blockchains — which have tried to topple Ethereum from its management place however failed.
“All the Ethereum killers from back in the day didn’t succeed, and I don’t expect them to succeed at all.”
Crypto tasks which have been touted as “Ethereum killers,” embody Solana, Cardano, Tezos, and Polkadot, amongst others. Many of those blockchains tout decrease charges and quicker transactions however have fewer lively builders and sure blockchains place h much less emphasis on decentralization.
To date, none have managed to displace Ethereum from its quantity two spot when it comes to market cap. Cardano and Solana at present sit within the eighth and ninth positions, Polkadot is ranked 11 whereas Tezos is ranked 37, based on Coinmarketcap.
Zwanzger believes that the upcoming Merge will additional propel Ethereum onwards and upwards when it comes to expertise and worth.
“There are so many good things in there, like environmentally-friendliness, [and] all sorts of things that are beneficial to a lot of people. Staking will become more attractive,” he stated.
“It’s a show of strength and commitment that the roadmap is materializing.”
The Ethereum Merge includes transitioning it from the energy-intensive proof-of-work (PoW) mining consensus to a proof-of-stake (PoS) mannequin, and has been tentatively scheduled to be rolled out round September 19.
However, Zwanzger admitted the massive future problem for Ethereum will proceed to be scalability.
“The original Ethereum roadmap was focused on sharding, but that’s not so much the case anymore. Now we have a roll-up-centric roadmap, so scaling via layer 2 solutions.”
Currently, the “proof-of-work” consensus mannequin permits the blockchain to course of 15 to twenty transactions per second (TPS) based on information from Blockchair.
A quantum leap within the variety of transactions per second is anticipated someday in 2023 when the Ethereum community introduces sharding.
Sharding is a multi-phase improve to enhance Ethereum’s scalability and capability by splitting the whole community into a number of parts so as to enhance the community capability.
Sharding will work hand in hand with layer 2 options to additional “supercharge” the scalability of the community.
Post-sharding, cofounder Vitalik Buterin has claimed the community will be able to transaction speeds as much as 100,000 TPS.