Ethereum co-founder Vitalik Buterin announced a significant advancement in Ethereum's capabilities during the Shanghai Blockchain Week. The platform can now prove Layer 1 (L1) blocks in real-time, a development initially anticipated to take 5-10 years. This breakthrough is part of Ethereum's strategy to enhance privacy and increase its transaction processing capacity from 30-45 million to potentially 300-4,500 million transactions. Buterin also highlighted the increasing efficiency of cryptographic technologies such as zero-knowledge proofs and fully homomorphic encryption. He predicted a future shift in industry sentiment towards these technologies, emphasizing their necessity. Additionally, he introduced the concept 'Not your silicon, not your private key,' stressing the importance of hardware security in cryptography.
Ethereum Achieves Real-Time L1 Block Proofs, Eyes 10-100x Capacity Boost
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