As the mud settled over the Ethereum community’s highly-anticipated transition to proof-of-stake (PoS), Eli Ben-Sasson, the co-founder of Starkware, gave his ideas on its execution and potential for the longer term.
Speaking to Cointelegraph’s Gareth Jenkinson on the Token2049 occasion, Ben-Sasson shared his ideas on the present state of affairs post-Merge and the way it impacts layer-2 initiatives like Starkware. In addition to that, the chief additionally gave his ideas on the adoption and curiosity for layer-2 merchandise and the crypto winter.
Looking again on the Ethereum Merge’s execution, Ben-Sasson rejoiced that the transition was flawless and mentioned issues occurred as they need to. The government defined that:
“The most important thing is that it was executed flawlessly. Everything that was supposed to happen did happen. And none of the things that people were worried about did happen. And that’s terrific news.”
Additionally, the chief additionally highlighted the significance of the brand new Ethereum community being higher for the setting. “It reduces the carbon footprint. That’s the big thing, and it also bodes very well for the potential of future improvements,” he mentioned.
According to Ben-Sasson, the Merge additionally makes Ethereum a greater settlement layer and a extra pleasant platform for layer-2 options. The government highlighted that it is a essential growth for his or her merchandise at Starkware as they might then supply scaling, compression of computation and different enhancements that their know-how can ship.
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Apart from the Ethereum Merge, Ben-Sasson additionally shared that a lot of the adoption and curiosity in Starkware options are with initiatives that had been additionally profitable within the layer-1 Ethereum. This consists of nonfungible tokens (NFTs), blockchain gaming and decentralized finance (DeFi). In addition to that, the chief shared his expectations for the longer term. He mentioned that:
“I expect that at some point, the ability to run much more massive computation with very low gas footprint will lead to completely new and unforeseen applications that are going to be far more important.”
With every part that’s taking place, the chief additionally shared his perception that regardless of many individuals describing the crypto and blockchain area’s present state of affairs as a crypto winter, their crew feels completely different. “We feel it as spring towards the balmy summer,” he mentioned.