On May 14, the Ethereum Foundation announced the 'Trillion Dollar Security Initiative' aimed at enhancing the protection of the Ethereum network.
Goals of the Initiative
The core goal of the initiative is to upgrade Ethereum's security to a level where billions of users can comfortably store over $1,000 on the platform. It will also foster conditions for organizations to hold over $1 trillion in a single contract or application.
Approach to Security
The initiative employs a three-step approach, beginning with creating a security landscape to identify the technology strengths and vulnerabilities of Ethereum. It plans to implement high-priority fixes and invest in long-term enhancement projects. Better communication is expected to make Ethereum's security standards more comprehensible and comparable to other systems.
ETH Price Prospects
Ether (ETH) prices have seen a resurgence in recent weeks, reaching their highest level in almost three months. The asset is up 43% over the past fortnight. Investor Ted Pillows predicted that ETH could hit $6,000 by the fourth quarter, driven by institutional buying.
The Ethereum Security Initiative underscores the network's ambitious plan to establish itself as a foundational infrastructure for the global economy, supporting high levels of protection and user trust.
