TechFlow news, on October 27, at the Sixth Blockchain Global Summit, Ethereum co-founder Vitalik Buterin joined via video link to deliver a keynote speech titled "The Rise of Ethereum's Layer 2 Ecosystem." He began by reviewing Ethereum's development journey since the publication of its white paper in November 2013, highlighting milestones such as:
1. In October 2017, Ethereum implemented the Byzantium hard fork, enabling support for zero-knowledge proofs;
2. In 2018, Uniswap launched on the mainnet;
3. In 2020, decentralized exchanges led by Uniswap saw significant growth.
However, Vitalik Buterin pointed out that Ethereum now faces scalability challenges, which became especially evident from the network's high gas fees in 2020—network congestion at times surpassing even the peak levels seen during Ethereum's initial coin offering boom in 2017. Fortunately, Ethereum has begun adopting Layer 2 scaling solutions like ZK Rollups. Projects such as Loopring and DeversiFi have already deployed ZK Rollups on the mainnet. Gitcoin’s quadratic funding mechanism has utilized zkSync, and the OMG Network has implemented Plasma. Ethereum is gradually evolving into a truly robust ecosystem.
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