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Ethereum Foundation Targets 10,000 Transactions Per Second & Quantum Security By 2029

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Ethereum Foundation Targets 10,000 Transactions Per Second & Quantum Security by 2029
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  • The Ethereum Foundation has introduced Strawmap, a long-term roadmap targeting 10,000 transactions per second on the main network and 10 million on Layer 2 networks.
  • The plan involves around seven major network upgrades over the next three to four years, along with stronger protection against future quantum-computer attacks.
  • The Foundation aims to complete the main changes by December 2029, although the timeline may change depending on technical progress and development challenges.

Ethereum Will Launch Its Big Tech Revamp

The Ethereum Foundation has released a bold plan to make its blockchain faster, cheaper and more secure by 2029. The roadmap, named ‘Strawmap’, will look to boost its mainnet throughput to 10,000 TPS (transactions per second) up from roughly 30 currently.

The plan will also see Layer 2 networks scale to 10 million TPS, making it more secure to counteract future quantum computer threats. The roadmap is expected to include seven major upgrades, meaning a lot of Ethereum’s fundamental technology could be replaced in the next three to four years.

Ethereum co-founder Vitalik Buterin said that this represents the third major step in the evolution of the network. Comparing the complexity of the project to the 2022 Merge, where Ethereum moved away from mining to a proof-of-stake system. Not only will transactions be faster, but they will also be cheaper.

Mainnet will see its throughput increased over 300 times and Layer 2 networks, which help carry out transactions off the main blockchain, to increase their throughput to 10 million TPS.

This will see Ethereum implement new verification processes for transactions. Rather than every participant carrying out complex calculations, they will use small cryptographic proofs to show that calculations have been carried out correctly. This can reduce the burden on the network.

A major aspect of the roadmap will also include becoming more quantum proof. Some of the cryptography used today could be at risk if powerful quantum computers emerge. Ethereum will look to gradually move away from this and implement more secure options.

The roadmap will also see improvements to privacy. This will ensure transaction details are kept private, but also provide proof of regulation compliance.

Seven Upgrades Expected

The Foundation expect roughly one upgrade every six months. These include the Glamsterdam upgrade in 2026 and Hegota in 2027. Other upgrades will include transaction verification.

However, the December 2029 date is not certain. The Foundation has already pushed back some upgrades. Certain aspects will be moved to 2029 and 2030. All major upgrades will require software changes to be made by developers, clients and nodes.

The project may also struggle with funding and development capability. In June the Foundation laid off 54 staff members (around 20%). They also announced that their operating budget had been reduced by 40% so they can focus on development.

Ethereum is also facing a tough time in the market. Their ETPs saw $1.61 billion of outflows in October.

Ultimately, the success of the Strawmap depends on how well the developers can implement these upgrades without causing issues with stability and compatibility. If they can do this, the network should be faster, cheaper and more prepared for future security challenges.

Stay informed with the latest trends in Web3, blockchain innovation, and cybersecurity updates at 3verseTV

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