Thread by @milesdeutscher

.@VitalikButerin claims that #Ethereum will be able to to process "100,000 transactions per second", following the completion of 5 key phases:

• The Merge
• The Surge
• The Verge
• The Purge
• The Splurge

A quick breakdown of what each stage means for $ETH. 👇

1. THE MERGE

The merging of the execution layer (current mainnet) and the Beacon Chain (new POS layer).

$ETH:
• Now becomes a deflationary asset (reduced issuance)
• Cuts power usage by 99%

The date of this upgrade is currently September 19th, 2022.

https://twitter.com/milesdeutscher/status/1509138889314910224?s=20&t=U0WqFTr11oGLy-vkSpU9NA

2. THE SURGE (2023)

The introduction of Sharding on Ethereum.

Sharding splits a blockchain's entire network into smaller partitions, known as "shards."

This will significantly increase the network's scalability.

3. THE VERGE

Introduces verkle trees, a "powerful upgrade to Merkle proofs that allow for much smaller proof sizes."

This will optimise storage on Ethereum and help reduce node size. Ultimately, this assists $ETH in becoming more scalable.

4. THE PURGE

Reduces the hard drive space needed for validators. This eliminates historical data and bad debt.

Streamlines storage, which in turn reduces network congestion.

5. THE SPLURGE

A series of miscellaneous *smaller* upgrades which ensure the network runs smoothly following the prior 4 stages.

All these changes are discussed (in a technical sense) on @VitalikButerin's website.

Here are the links used to research this thread:

Sharding: vitalik.ca/general/2021/0…
Verkle Trees: vitalik.ca/general/2021/0…
Full website: vitalik.ca

“The difference between #Bitcoin and #Ethereum is that Bitcoiners consider Bitcoin to be 80% complete, but Ethereans consider Ethereum to be 40% complete.” - @VitalikButerin

It's clear that the untapped potential here is colossal.