Ethereum: The Path to a Greener and Scalable Future

  

Ethereum founder says Ethereum is changing fundamentals. Learn more about how Ethereum will change the world with blockchain technology, from DeFi to the metaverse. Discover the potential and challenges facing Ethereum in the future.

Ethereum wasn't built just overnight. Its development went through several phases, starting with Frontier in 2015, which laid the foundation for miners and developers. Later phases such as Homestead and Metropolis focused on improving security, functionality, and developer experience.

If you are interested in Ethereum and its network, this article will help you understand this token well. This article will explore the exciting future of Ethereum, a leading blockchain network.

Starting from Ethereum's latest upgrade, Ethereum's roadmap to scalability and sustainability, and the implications for users and developers.

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Potential and Challenges of Ethereum in the Future

Ethereum has great potential to become the backbone of the digital economy. With its ability to facilitate secure and transparent transactions, Ethereum can drive business growth and innovation across various sectors.

Ethereum could become the ultimate platform for building a metaverse, a connected virtual world where people can work, play, and socialize. Ethereum can also integrate artificial intelligence technology to create smarter and more efficient applications.

With the various potentials above, Ethereum has several challenges to face in the future, such as:

1. Scalability: Despite significant progress, Ethereum still faces challenges in increasing scalability to accommodate rapid growth in users and transactions.

2. Regulation: Unclear regulations in various countries can hinder Ethereum's growth and adoption.

3. Competition: Ethereum faces competition from various other blockchain platforms that offer different features and advantages.

Green Revolution: Ethereum 2.0 and Proof-of-Stake

Significant changes occurred in 2020 with the launch of Ethereum 2.0 and the transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS). This change dramatically reduces Ethereum's energy consumption, making it a more environmentally friendly platform.

PoS also lowers the barrier to entry for participating in the network, as users no longer need expensive mining equipment.

Roadmap Ethereum Towards Scalability

While PoS is a big step forward, Ethereum's roadmap doesn't stop there. The network is actively working on scalability solutions to overcome transaction speed limitations. Here are some key aspects of this roadmap:

1. Sharding: Ethereum plans to implement sharding, a technique that divides the blockchain into smaller pieces, enabling parallel processing of transactions and significantly increasing network throughput.

2. Layer-2 Scalability Solution: Layer-2 solutions such as rollups have helped reduce transaction bottlenecks on the Ethereum mainnet. This solution aggregates off-chain transactions and then efficiently executes them on-chain, resulting in faster and cheaper transactions.

3. EIP-7762: This proposed enhancement aims to simplify cost distribution and scalability by focusing on roll-up integration and introducing a new cost-sharing model.

A Brighter Future for Ethereum Developers and Users

Ethereum's roadmap holds great potential for developers and users. Here's what you can expect:

1. Lower Transaction Fees: With increased scalability, transaction fees on Ethereum are expected to decrease significantly, making the network more accessible to everyone.

2. Faster Transactions: Faster transaction confirmation times will result from faster block times and improved processing capabilities.

3. Enhanced Security: Ethereum's focus on security remains primary, and the PoS mechanism along with ongoing development efforts will continue to strengthen the network's resilience.

4. A More Vibrant Ecosystem: Increased scalability will pave the way for a variety of decentralized applications (dApps) built on Ethereum, driving further innovation and user adoption.

Conclusion

Ethereum's roadmap is ambitious and constantly evolving. With a focus on scalability, sustainability, and security, Ethereum is poised to maintain its role as a leader in the blockchain space.

This future holds exciting possibilities for developers and users, with a more efficient, secure, and accessible Ethereum ecosystem on the horizon.

With the increasingly comprehensive Ethereum network, it cannot be denied that this will also have a positive impact on Ethereum price. Converting the price of ETH to USD will also strengthen investors' increasing confidence in the development of Ethereum network technology.

Ethereum may be experiencing a price decline recently which is a bit worrying. However, as Ethereum continues to develop smart contracts for other parts of its network, more and more users will buy ETH in the future.

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BIR Raids Large-Scale Illicit Cigarette Factory and Warehouse in Cebu with ₱107M Tax Liability

Wazzup Pilipinas!?

Bureau of Internal Revenue (BIR) Commissioner Romeo D. Lumagui Jr. reports another win in the fight against illicit trade with the recent raid of an illicit cigarette factory and warehouse located in Cebu last October 3 and 5. The BIR estimates around Php 107,756,900.45 in tax liability after seizing 32,545 counterfeit internal revenue stamps, 44, 310 packs of illicit cigarettes, 13 machines used for manufacturing cigarettes and raw materials for cigarettes.

"The BIR raided another large-scale illicit cigarette factory and warehouse. This raid in Cebu uncovered an estimate of 107M in tax liability. The BIR will not stop raiding all illicit trade activities, wherever they may be located. We will protect the legitimate agricultural sector and the thousands of jobs it produces for our Filipino farmers," Commissioner Lumagui stated.

Several violations of the National Internal Revenue Code (NIRC) were committed by the operators of this illicit cigarette factory and warehouse. These include Section 265(C) Possession of Counterfeit Internal Revenue Stamps, Section 263 Unlawful Possession or Removal of Articles Subject to Excise Tax, Section 265-B Violations Committed by Manufacturers, Importers, Indentors, and Wholesalers of Any Apparatus or Mechanical Contrivance Specially for the Manufacture of Articles Subject to Excise Tax and Importers, Indentors, Manufacturers or Sellers of Cigarette Paper in Bobbins, Cigarette Tipping Paper or Cigarette Filter Tips, Section 260 Unlawful Possession of Cigarette Paper in Bobbins or Rolls, Etc., Section 236 Registration Requirements of the NIRC, Section 254 Attempt to Evade or Defeat Tax, and Section 255 Failure to File Return, Supply Correct and Accurate Information.

BIR raided 408 Illicit Vape Retailers/Resellers in Nationwide Raid; Expect Regular Raids

Wazzup Pilipinas!?

Bureau of Internal Revenue (BIR) Commissioner Romeo D. Lumagui Jr. led a nationwide raid against illicit vape retailers last October 16, 2024. By current estimates, a total of 408 vape retailers have been found to be selling illicit vape products. Commissioner Lumagui has ordered the BIR to conduct a weekly surveillance and raid of illicit vape retailers after the nationwide raid.

"The BIR Nationwide Raid against illicit vape retailers/resellers last October 16, 2024 shows our aggressive stance against illicit vape. We raided 408 illicit vape retailers. I have ordered weekly raids against illicit vape retailers, wherever they may be found. Walang illicit vape smuggler kung walang illicit vape retailer/reseller," Commissioner Lumagui stated.

Illicit vape retailers/resellers were found in Bulacan, Manila

City, Quezon City, San Juan City, Makati City, Las Pinas City , Pangasinan, Benguet, Isabela, Laguna, La Union, Pasay City, Albay, Iloilo, Cebu, Bohol, Leyte, Bukidnon, Misamis Oriental, Surigao del Norte, Butuan, Agusan del Sur, South Cotabato, Davao, Negros Occidental, Negros Oriental, and Ilocos Sur.

Lack of internal revenue stamps and lack of BIR registration of the vape products are the common violations of illicit vape retailers/resellers. The total number of vape products confiscated is still undergoing inventory.

The nationwide raid was a simultaneous enforcement activity. Revenuers conducted a covert surveillance of vape retailers located in their respective regions and districts before the actual raid.