The world of cryptocurrencies never stands still and the recent success of the Dencun hard fork within the Ethereum (ETH) network proves this once again. Vitalik Buterin, co-founder of Ethereum, emphasizes the importance of a shift in thinking towards the development of Layer 2 (L2) dApps. This move is crucial to Ethereum’s impact on both the internet and the conventional financial system.
New possibilities for Ethereum after Dencun
The Dencun hard fork has paved the way for a future in which Ethereum focuses more on so-called “L2 rollups.” This technology enables more efficient processing of transactions by reducing the costs associated with submitting cryptographic evidence to Ethereum’s base layer. Buterin stated this during ETH Global’s Pragma London event, Cointelegraph reports.
“With the successful implementation of Dencun, we have reached a fundamental milestone in rollup scaling. Now it is important to continue this progress,” said Buterin.
A changing Ethereum
Buterin emphasizes that the Ethereum ecosystem must adapt to make a significant impact beyond its own community. The first ten years focused primarily on internal development, but now it is time for Ethereum to focus externally. “It’s time we show the world what Ethereum can really mean,” Buterin said.
“The techies were trying to please techies and create beautiful technology. In the second decade, Ethereum should see its breakthrough and have a major impact on the world.”
The Dencun hard fork marks a shift from a focus on the first layer (L1) to a future focused on L2 solutions. This does not mean that developments on L1 will stop completely, but the focus is now more on maintenance than on radical changes.
The success of the Dencun hard fork and Buterin’s call for an L2-centric future promise a new era for Ethereum focused on expansion, improved functionality, and greater impact on the digital and financial worlds.
