- Vitalik believes that the three transitions are crucial for ensuring sustainability.
- Ethereum needs to focus more on scalability, security, and privacy.
Vitalik Buterin, the co-founder of Ethereum, has revealed the three transitions that contain the roadmap for the three significant technical transitions. Vitalik believes that the three transitions are crucial for ensuring the sustainability and long-term success of the Ethereum blockchain.
The Three Transitions:https://t.co/rtewRnm2wK
— vitalik.eth (@VitalikButerin) June 9, 2023
According to the report, the three transitions are Layer 2 scaling, wallet security enhancement, and privacy measures. These are essential to maintaining Ethereum’s decentralized nature and providing unrestricted access for users.
Ethereum’s Three Transitions
In the three transitions Layer 2 scaling becomes the first to focus on. Ethereum has experienced the emergence of the Layer 2 ecosystem. That has effectively lowered transaction costs. However, the major activities still take place on the main network. The development of Layer 2 scaling is necessary for the Ethereum blockchain.
Wallet security becomes the second transition to focus. Vitalik stated that without the second transition, wallet security, Ethrereum’s success is compromised as users hesitate to store their funds. Vitalik initiated a shift toward smart contract wallets with advanced features to improve wallet security. Moreover, the improved wallets would offer enhanced security. And also improves the user experience.
Privacy becomes the third transition to focus. Ethereum would be able to offer improved privacy by integrating with the stealth address protocol. He mentions that the absence of data privacy measures discourages users from utilizing the Ethereum blockchain. Moreover, the integration is expected to attract more users who prioritize data security.
Vitalik stated that the second-largest blockchain needs to focus more on scalability, security, and privacy. So ETH unveiled the three transitions to continue the evolution of a mature tech stack.
