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Future Ethereum at a Crossroads: Vitalik Buterin Announces Suspension of Serenity

Co-Chairman Ethereum Vitalik Buterin announced that the implementation of the update, code-named Serenity, would be suspended indefinitely. This news was an unpleasant surprise for developers who spent a lot of time developing a large-scale network update and an enhanced ecosystem of the platform.

Today, Ethereum is one of the most visited and sought-after platforms for creating blockchain systems. Despite the presence of competitors, in particular, the Tron platform, Ethereum occupies a leading position in terms of decentralization.

Ethereum was also actively used as a platform for the initial offering of ICO coins. Although among the creators of new projects there were many scammers, ICO played a role in the formation of Ethereum. This allowed stimulating demand for ETH among investors and, accordingly, became the foundation for the price growth of this digital currency.  

How does Ethereum intend to solve its bugs?

Today, Ethereum has some serious problems that interfere with the functioning of the platform. In particular, this applies to a large network reboot. That is why creating an application like Twitter on this platform is now technologically impossible. This network is truly decentralized, while the question of ensuring data security remains open.

Pausing the launch of Serenity, the Ethereum team should now develop the optimal solution to existing problems. Vitalik Buterin noted the following:

“Ethereum is now facing complex challenges. Some platform tools have demonstrated their weakness. We need to take a break and develop new products to solve existing problems. We want to avoid the criticism that other independent platforms such as Tron and EOS once encountered.”

He also noted:

“I suggest launching ZK-SNARK. We will soon discuss all ideas and concepts with the Ethereum Foundation to make the right decision.”

This statement caused a storm of concern within the Ethereum community. Now even analysts have given up forecasts of which way Ethereum will go next.

Does Vitalik have a new project?

Ethereum co-founder has repeatedly raised the theme of the fight against aging. In particular, on his Twitter, he noted:

“Why not begin to expand the theme of research aimed at combating aging. The inability to stop age-related changes is a big problem that takes as many lives every year as it lost during the Second World War. ”

Is this statement prank or a new project by Vitalik Buterin? Will work on Serenity be restored? We can only find out with time.