According to a recent article on Coinatory that Nebojsa Urosevic, the co-founder and Senior Vice President of Tenderly, stresses the vital need for Ethereum to develop as it faces an increase in transaction volumes. This advancement shouldn't come with high fees for users, especially as Ethereum's global usage increases.
The much-anticipated Dencun upgrade is approaching, aiming to improve the blockchain's foundational layer. This improvement seeks to increase network capacity and reduce transaction costs by introducing proto-danksharding, a major technological breakthrough.
This upgrade will aid L2 solutions like Optimism, providing them with extra data capacity through blob access. With over a decade of software engineering experience and having developed a scalable Ethereum Virtual Machine (EVM) at Tenderly, Urosevic sees this upgrade as key for the future of decentralized finance (DeFi) and vital for lowering barriers for newcomers.
Confronting these challenges early is vital for blockchain technology to achieve global scale, particularly as Ethereum’s network capacity becomes more constrained. Growing Ethereum sustainably is essential to welcome new applications without sacrificing the network’s security, decentralization, or user experience.
Urosevic also talked about the importance of multi-chain technology for Ethereum’s scalability. Given the limitations of infinite scaling due to the blockchain trilemma, layered multi-chain strategies have emerged as practical solutions for ensuring long-term scalability. Get info has explored various scaling solutions, with optimistic and zero-knowledge rollups being notable for their efficiency and security.
Reading this insightful piece on Coinatory provided a deep dive into the upcoming changes and challenges facing Ethereum as it scales. It's clear that with experts like Urosevic at the helm, Ethereum is poised for significant advancements in scalability, security, and accessibility for users worldwide.