Ethereum Transitions from Blockchain to Multi-Layered Network

Vitalik Buterin, co-founder of Ethereum, made significant comments on the evolution of the blockchain network during the 12th Global Blockchain Summit in Shanghai.

According to Buterin, Ethereum is gradually transitioning from a basic blockchain into a more complex network with multiple layers. He emphasized the 'huge amount of progress' achieved at both the protocol and application levels within the Ethereum ecosystem.

In his view, every upcoming hard fork will introduce advanced cryptographic features, including quantum-safe signature algorithms. Buterin also pointed out that many existing applications on Ethereum were developed before newer technologies like programmable privacy and code verification became available.