Ethereum's New Roadmap Could Transform It Into High-Speed 'Internet of Value' by 2029

The Ethereum Foundation has published a long-term roadmap outlining seven hard forks through the end of 2029. The plan aims to improve base-layer performance, reduce transaction finality from 16 minutes to as low as 8 seconds, and boost network throughput.

The roadmap, known as the 'strawmap,' emphasizes faster block slots and finality, gigagas throughput for Layer 1 (L1), and post-quantum cryptography. It also includes native privacy features for ETH transfers.

Ethereum co-founder Vitalik Buterin supports the plan, highlighting the use of a one-round BFT algorithm, Minimmit, to reduce slot times and improve scalability.

Why Did This Ambitious Plan Emerge?

The roadmap is a response to growing demand for faster and more secure blockchain transactions. Justin Drake, a researcher with the Ethereum Foundation, stated that the plan is intended for developers, researchers, and participants in Ethereum governance.

The Ethereum Foundation aims to streamline upgrades through a cadence of one fork every six months, ensuring steady development toward long-term goals.

What Are the Technical and Strategic Goals?

The 'strawmap' includes five major milestones. The first is achieving fast L1 finality with reduced slot times and finality within seconds. This aims to improve the user experience by making transactions more immediate according to research.

The second milestone involves creating a 'gigagas' L1 network capable of 10,000 transactions per second using zkEVM. This would enable Ethereum to support more transactions without compromising on security.

The third goal is a 'teragas' L2 network through data availability sampling. This would allow Ethereum to scale to 10 million transactions per second, enhancing scalability and efficiency.

A fourth milestone is the implementation of post-quantum cryptography. This is crucial for long-term security, especially as quantum computing advances.

The final milestone is introducing native L1 privacy features for ETH transfers. This would allow users to shield their transactions from public view, enhancing privacy.

What Are Analysts Watching Next?

Analysts are closely monitoring the feasibility and implementation timeline of these upgrades. While the roadmap is ambitious, it sets a clear direction for Ethereum's future development.

The reduction of slot times from 12 seconds to as low as 2 seconds is a key technical challenge. This requires significant changes in consensus mechanisms and network performance.

Investors and developers are also watching the adoption of quantum-resistant cryptography. This upgrade is essential to protect the network from future threats posed by quantum computing.

Privacy features are another area of interest. The inclusion of native L1 privacy for ETH transfers could attract more users who value confidentiality in their transactions.

The success of the roadmap will depend on the collaboration between researchers, developers, and the broader Ethereum community. Regular updates and progress reports will be critical for maintaining trust and transparency.