After over ten years, Vitalik Buterin has revealed that Ethereum is now living up to its 2014 vision of powering decentralized applications. Amid the wave of technical improvements, the ETH price rose above the $3,350, sparking optimism for an extended bull run for the second-largest cryptocurrency.
A Raft Of Network Upgrades Sets Ethereum On Course
Ethereum founder Vitalik Buterin, in an X post, disclosed that the network has made significant progress to align with its original blueprint.
According to Buterin, Ethereum’s 2014 vision revolved around designing a blockchain to power permissionless and decentralized applications in a range of sectors. However, the Ethereum founder noted that several “metas” and “narratives” in the last five years have blurred the core vision.
“The core vision has never died,” said Buterin. “And in fact, the core technologies behind it are only growing stronger.”
Buterin revealed that Ethereum’s transition to proof-of-stake signals a clear commitment to its original vision. Furthermore, lower gas fees and ZK-EVM-backed scaling and sharding have set the network on course.
In his post on X, the Ethereum founder also highlighted the progress recorded by Waku, a privacy-focused messaging for Web3 application. He added that apart from Waku, the quality of decentralized messaging has improved with Fileverse recording a spike in new users.
“All of the prerequisites for the original web3 vision are here in full force, and are continuing to get stronger over the next few years,” added Buterin.
ETH Price Rebounds Amid Key Network Improvements
CoinMarketCap data confirmed a price surge for ETH, with the asset rising by nearly 3% over the last day. At press time, Ethereum is trading at $3,370 after soaring to a daily peak of $3,397, for the first time in over a month.
Meanwhile, Ethereum’s new wallet growth has hit a record high amid rising retail interest. On the institutional side of things, ETH makes up over 4% of the digital asset supply among corporations, compared to Bitcoin’s 4.1%.
The surge in prices has stoked optimism of a sustained rally, with Standard Chartered analysts tipping ETH to reach $7,000. Zooming out, Bitcoin is inching toward $100,000 for the first time in eight weeks as the global cryptocurrency market capitalization tops $3.2 trillion.
Source: https://zycrypto.com/vitalik-buterin-says-ethereums-2014-vision-is-being-realized-as-eth-tops-3300/
