Vitalik Buterin developed the Ethereum network as a base layer for online applications. Later, names such as Gavin Wood, Charles Hoskinson, Anthony Di Iorio and Joseph Lubin were included in the project. Since 2015, the Ethereum network continues to be the platform with the largest share in the smart contracts industry.
Ethereum developer Vitalik Buterin said in a recent statement that he is hopeful for the future of Ethereum and that he believes it can become a world computer after it becomes a more efficient base layer for applications.
Ethereum has seen a significant increase in the number of active users since February. The number of Ethereum wallets with balance to see a new peak of 18.36 million is seen as an important milestone for the Blockchain network. Although the criticism of the high transaction fees regarding the Ethereum network remains up-to-date, the applications operating on the platform continue to see value.
On the other hand, Vitalik Buterin talked about the importance of transitioning to proof-of-stake consensus and said that he believes this network update will ensure sustainability in the Blockchain network.
Despite the steadily increasing number of addresses, Blockchain data points to a decrease in transactions and whale accounts on the Ethereum network. Glassnode data showed that the number of wallets holding at least 1,000 ETH dropped to 6,226, the lowest level in 4 years.
Looking at the daily transactions, it is seen that the transactions have not exceeded 1.2 million since the end of 2021. High transaction fees are cited as the reason for this. This increases the popularity of the Polygon network, which is a layer 2 solution for the Ethereum network. Polygon is a platform that serves as a lower layer that performs Ethereum transactions faster and more cost-effectively.