Ethereum's 'Strawmap' Aims to Slash Transaction Times by 2029
Ethereum is rolling out a bold new roadmap to transform its network by 2029. Dubbed the 'Strawmap,' the plan targets major upgrades to speed, security, and scalability. These changes come as the blockchain faces growing competition and shifting market sentiment.
The price of ETH has seen a slight rebound to around $2,066 amid increased development activity. Meanwhile, co-founder Vitalik Buterin is pushing for Ethereum to become the foundation of decentralised AI, positioning it as essential infrastructure for the digital economy.
The 'Strawmap' outlines deep infrastructure upgrades rather than minor adjustments. A key focus is reducing latency by cutting slot times from 12 seconds to as little as 2 seconds. This would be achieved through smaller, randomly selected validator committees, speeding up block processing.
Another major change involves upgrading Ethereum's peer-to-peer system with erasure coding. This technique allows blocks to spread faster across the network, further lowering slot times. The roadmap also aims to improve finality, potentially slashing transaction confirmation times to between 8 and 16 seconds.
Beyond performance, Ethereum is preparing for long-term risks like quantum computing. New quantum-resistant signatures will help secure the network against future threats. These upgrades align with Buterin's vision of Ethereum as the backbone of decentralised AI, reinforcing its role in the next wave of digital innovation.
Despite these plans, Ethereum still faces challenges. Volatile market sentiment and pressure on its dominance in decentralised finance (DeFi) add to the urgency of these improvements. While Solana is known for high throughput and low costs, Ethereum's Layer-2 solutions continue to handle transaction loads, making direct comparisons difficult.
The 'Strawmap' sets Ethereum on a path to becoming a 'Gigagas' network by 2029. Faster slot times, improved finality, and quantum resistance aim to secure its place as a high-performance blockchain. These changes will determine whether Ethereum can maintain its leadership in an increasingly competitive landscape.
