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Ethereum co-founder Vitalik Buterin has revealed details about the upcoming network enhancement, ending a period of silence on future developments. In his address, he emphasized the importance of the forthcoming changes for improving scalability and security of the blockchain.
The new upgrade, tentatively called "Ethereum 2.5," aims to implement Shard Chains, which will increase the network's capacity to up to 100,000 transactions per second. This is a significant leap from the current processing speed of approximately 15 transactions per second.
Buterin stated that the team is actively working on implementing these changes and plans to release the upgrade in the first quarter of 2025. It is expected to address issues with high fees and delays, promoting wider adoption of Ethereum.