The Ethereum Foundation has announced its ambitious plans for the 'Gigagas Era', aiming to achieve 10,000 transactions per second through ZKVM technology.
Announcement of the 'Gigagas Era'
Ethereum Foundation's **Justin Drake** has announced the 'Gigagas Era', targeting 10,000 TPS using **Zero-Knowledge Virtual Machines (ZKVMs)**. This significant milestone could greatly enhance the scalability of Ethereum's Layer 1.
Potential Changes for Ethereum
Drake's proposal could reshape Ethereum's landscape by lowering staking barriers. Scaling through ZKVMs may also boost **decentralization and validator participation**. The upgrade could significantly impact the financial and staking sectors, positively affecting liquid staking tokens and decentralized finance (DeFi) protocols, as it may influence transaction speeds and fees.
Community and Analyst Reaction
The plan has received positive feedback from developers and stakeholders. **Justin Drake** noted, 'I believe that we're at this inflection point for Ethereum scaling and in particular I have conviction that we will enter a gigas error for the L1...'. Analysts predict increased institutional interest and potential regulatory oversight as scalability improves. Data from previous upgrades suggested an upward trajectory for related assets.
Ethereum's plans for improvements in scalability and decentralization could be a pivotal step in its development that might impact the entire Ethereum ecosystem and the market overall.
