Blockdaemon’s ETH ecosystem lead Freddy Zwanzger believes Ethereum will retain its leadership position within the crypto ecosystem over in the future because of its utility like a smart contract platform and upgrades towards the network following a Merge.
Talking with Cointelegraph throughout the Ethereum Community Conference (EthCC) now, Zwanzger stated:
“It’ll continue being an innovator. I am talking about, clearly, the foremost and most significant smart contract platform, and that is not likely to change.”
Blockdaemon is definitely an institutional-grade blockchain infrastructure platform that provides node operations and infrastructure tooling for blockchain projects.
The Blockdaemon worker also required are designed for so-known as “Ethereum killers” — competing Layer 1 blockchains — that have attempted to topple Ethereum from the leadership position but unsuccessful.
“All the Ethereum killers from in older days did not succeed, and that i pricier these to succeed whatsoever.”
Crypto projects which have been touted as “Ethereum killers,” include Solana, Cardano, Tezos, and Polkadot, amongst others. A number of these blockchains tout lower charges and faster transactions but have less active developers and certain blockchains place h less focus on decentralization.
Up to now, none have were able to displace Ethereum from the # 2 place when it comes to market cap. Cardano and Solana presently sit within the eighth and ninth positions, Polkadot is rated 11 while Tezos is rated 37, based on Coinmarketcap.
Zwanzger believes the approaching Merge will further propel Ethereum onwards and upwards when it comes to technology and cost.
“There a multitude of good stuff inside, like eco-ambiance, [and] all kinds of things which are advantageous to numerous people. Staking will end up more appealing,” he stated.
“It’s a motion picture of strength and commitment the roadmap is materializing.”
The Ethereum Merge involves transitioning it in the energy-intensive proof-of-work (Bang) mining consensus to some proof-of-stake (PoS) model, and it has been tentatively scheduled to become folded out around September 19.
However, Zwanzger accepted the large future challenge for Ethereum will still be scalability.
“The original Ethereum roadmap was centered on sharding, but that’s less the situation any longer. We now have a roll-up-centric roadmap, so scaling via layer 2 solutions.”
Presently, the “proof-of-work” consensus model enables the blockchain to process 15-20 transactions per second (TPS) based on data from Blockchair.
A quantum leap in the amount of transactions per second is anticipated sometime in 2023 once the Ethereum network introduces sharding.
Sharding is really a multi-phase upgrade to enhance Ethereum’s scalability and capacity by splitting the whole network into multiple portions to be able to boost the network capacity.
Sharding works hands in hands with layer 2 methods to further “supercharge” the scalability from the network.
Publish-sharding, cofounder Vitalik Buterin claimed the network will manage to transaction accelerates to 100,000 TPS.