The future of BitcoinCT r: 8 is uncertain. Now, many experts are discussing what will happen with the Blockchain in the future and what technology will be used. In the area of Bitcoin there were many startups, but most of them did not find application. What will be the future of Bitcoin and the Blockchain in 5 years?
Vitalik Buterin co-founder of Ethereum , the decentralized web 3.0 publishing platform. He is currently working on implementing Ethereum 2.0. Vitalik answered a few questions specifically for CoinTelegraphCT r: 24 .
CoinTelegraph: The most interesting question today is that of the next generation for cryptocurrency. What will be the next step in evolution after Ethereum, Litecoin and Bitcoin?
Vitalik Buterin: So, there are a few research directions that I think are important. Perhaps the most important one is scalability; right now, blockchains are capable of processing only about 4-20 transactions per second, and the primary reason why that is the case is that they have this fundamental limitation that every node in the network must process every transaction. Hence, unlike other decentralized systems (eg. BitTorrent ) that get _more_ powerful the more nodes join the network, blockchains actually get weaker, at least in terms of transaction throughput, the more participants they have (because the network grows and so the latency increases logarithmically, whereas the power of each node does not increase at all). There are two main routes to solving this problem:
> Sharding, ie. having different nodes process different transactions, so each transaction is only processed by a small subset of nodes”
The second one is integrating stronger cryptography. There are a lot of projects already that are getting interested in linkable ring signatures, which provide moderately strong privacy properties, and the next step will likely be the community getting […]
