Following the Merge update, the Ethereum network wants to roll out other scaling upgrades.
The Blockchain Trilemma is a common theory that blockchains usually have a three-way choice to make. That is between scalability, decentralization, and security. But while it is generally believed that no single blockchain can offer all three simultaneously, Ethereum has had a laser focus on solving this situation.
As a result, the world’s second-largest cryptocurrency by market capitalization is looking to determine its next course of action. This follows after the project recently completed its highly-anticipated transition to the proof-of-stake (PoS) consensus mechanism, making it an energy-efficient network.
More importantly, the transition was so seamless that positive commentaries are still pouring in from various quarters. Particularly for the sheer engineering prowess that the transition team displayed during the transition process.
But despite the feat, an age-old question still hangs in the balance and it’s about the compromise that the network is willing to make.
Ethereum’s 5-Step Plan to Solve the Blockchain Trilemma
Ethereum, however, appears to be unshaken in its resolve to not compromise on the Blockchain Trilemma issue. Rather, it hopes to navigate the situation with its 5-phase plan, in which The Merge was the opening phase. Now that the network has transitioned to PoS, however, developers are preparing to follow through with the remaining upgrades. According to a Bloomberg report, “The Surge is scheduled to be the next stage after The Merge. In this phase, sharding will be introduced and implemented. Expectedly, this will improve scalability by lowering the cost of bundled transactions on Ethereum.”
The third phase is called The Verge. Here, Ethereum will focus on decentralization by introducing what it calls the ‘verkle trees.’ According to Ethereum, this update will make the network more accessible while users will find it easier to become validators.
The fourth stage is called The Purge. For this stage, the network will attempt to wipe off its historical data and technical debt.
And finally, The Splurge. This stage will only see to it that necessary additions and subtractions are made on the network to ensure smooth running.
At the moment, there is no official word regarding the timeframe for these upgrades. However, expectations are that they should all be perfected in about two to three years. And that is because the remaining four stages are still being actively researched or under development.
Mayowa is a crypto enthusiast/writer whose conversational character is quite evident in his style of writing. He strongly believes in the potential of digital assets and takes every opportunity to reiterate this.
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Source: https://www.coinspeaker.com/ethereum-blockchain-trilemma/