Vitalik: Ethereum 3.0 will achieve "infinite" scalability in 2018

Vitalik Buterin has set Ethereum’s development milestones for 2017 and 2018. According to his recently published paper ‘Opportunities and Challenges Facing Private and Consortium Blockchains’, Ethereum 3.0, which has “unlimited” scalability, will be released by the end of 2018.

Ethereum's future milestones

Despite the recent attention Ethereum has received, its founder Vitalik Buterin said that the Ethereum project’s current foreseeable future goals are still set between 2017 and 2018, and he listed the following milestones:

1. Metropolis phase: release of the Mist browser, expected to be launched in the summer of 2016;

2. Serenity phase ('Ethereum 1.5'): Release of Ethereum Casper consensus algorithm (PoS), as well as EIP101 (Ethereum Improvement Protocol) and EIP105, expected to be released in early 2017;

3. Release of WebAssembly (‘Ethereum 1.7’): a faster virtual machine, expected in 2017;

4. Ethereum 2.0 (not yet named): Achieve initial scalability. Expected to launch in late 2017;

5. Ethereum 3.0 (not yet named): Achieving ‘infinite’ scalability, expected to launch in late 2018.

From blockchain smartphones to world computers

As Buterin said, Ethereum aims to become a "world computer", a platform that enables blockchain developers who create applications to easily benefit from the decentralized and secure properties of blockchain without having to create a new blockchain. This is different from previous protocols that were seen as single-function tools, such as pocket calculators.

He wrote:

“…Ethereum is the smartphone of blockchains: it’s a general-purpose platform, whatever you want to build, you can make it into an ‘app’ and Ethereum clients will be able to benefit from it without having to download any new special software.”

Buterin believes that the basic technical advantages of blockchain, including reliability, security, auditability and decentralization, are well understood at present. The question is in which specific areas these advantages will shine.

What the Bitcoin Community Says

Persona Dynamo: The author is clearly ignorant, Rootstock, Lightning Network, and the security of the Bitcoin network are what matters, they are coming, and the Ethereum speculation game is about to end. You know when that will be.

ethershine: Ethereum is heavily pre-mined, and the supply is unlimited. This world computer is controlled by one person, and he can add ether to the network as long as he likes.

EtherTruth replied to ether shine: You have misunderstood it.

1. At the beginning of next year, the total supply of Ether will reach about 100 million, at which time Ethereum will switch to the PoS stage and mining will no longer be possible.

2. Ethereum has distributed 60 million ethers in the ICO phase, of which 9 million were allocated to developers and for marketing purposes. V and others in the team received about 500,000 ethers.

animalparty: Boring, Ethereum will be dead by then, RootStock and Counterparty will beat Ethereum.

PrudentBruce replied to animalparty: Counterparty is a dead system.
RootStock’s 1:1 pegged sidechain is a crazy experiment because it attempts to violate the laws of physics.

animalparty: As a perpetually inflated token, Ethereum is a terrible investment tool, I don't know why you clowns would buy it. Even the founder of Ethereum has pointed out that Ethereum should not be used as a store of value, but as a medium to drive the network, which is different from Bitcoin.

Scott replied to animalparty: Once Ethereum moves to the PoS phase (next year), its inflation rate will drop to 0%-2%, idiot.