Ethereum (ETH) developers hope to accomplish four key goals next year, according to the project’s co-creator, Vitalik Buterin.
Buterin says in a new interview with Bankless that solving scalability is their “number one” priority.
“The fees have been low for the past six months, so it’s a bit easier to kind of backburner the problem, but I think if Ethereum succeeds, we’re going to have another bull [market], and we know what bulls mean for transaction fees. From the point of view of a user, bulls can even be something to dread, because of how it makes transaction fees shoot up to $50 or $100 or whatever.”
Buterin notes that Ethereum developers are on a “ticking clock” to solve the scalability issue.
The ETH co-creator also notes the project’s developers plan to work on privacy, base-layer censorship resistance and account abstractions.
Ethereum account abstractions would aim to reduce the two different account types to a single contract account type, according to EthHub.
Explains the Ethereum resource website,
“The single account type will have the functionality to transact both coin and contract. Developer and user will no longer need to make a distinction between account type since transacting will be moved fully into the EVM [Ethereum Virtual Machine] and off of the blockchain protocol.”
ETH is trading at $1,479 at time of writing. The second-ranked crypto asset by market cap is up more than 9% in the past 24 hours.
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