The latest Ethereum upgrade seems to have won over users of this iconic blockchain, with daily transactions reaching a new all-time high. This has prompted Vitalik Buterin to set himself a key challenge: to build a “global computer” capable of revolutionizing the internet.
Ethereum sets new record for daily transactions
When discussing Ethereum, it is now necessary to specify whether we are referring solely to its layer 1 blockchain or to its entire ecosystem, which consists of a multitude of associated layer 2s designed to offer enhanced scalability in a unified “Interop Layer” environment.
This evolution involves certain decisive steps, such as its latest Fusaka upgrade, validated in early December, which led to an increase in activity recorded on its blockchain, along with a significant decrease in fees.
This momentum is likely to continue into the new year, especially considering the recent historic record of more than 2.2 million daily transactions recorded on December 29, which definitively eclipses the previous highs set during the 2021 bull market and the NFT craze.
At the same time, the number of active addresses on the Ethereum blockchain is also at its highest level since 2021—nearly 730,000—while new addresses created simply exploded on December 31 with the largest daily increase recorded since early 2018.
The recent surge has been driven primarily by network upgrades that have drastically reduced fees, improved scalability, and attracted institutional participation via ETFs and the tokenization of real-world assets.
Nick Ruck, Director of Research at LVRG Research
Building the global computer that serves as the infrastructure for a freer and more open Internet
A resurgence of activity on Ethereum has been accompanied by a post from its iconic co-founder, Vitalik Buterin, in the form of New Year’s wishes.
This is an opportunity to remember that this blockchain is intended to enable the creation of decentralized applications (dApps) “that operate without fraud, censorship, or third-party interference (…) for finance, but also for identity, governance, and any other civilizational infrastructure that people wish to build.”
This is not about the quest to “win the next meta,” whether it’s tokenized dollars or political memecoins, nor is it about arbitrarily convincing people to fill up blockspace to make ETH “ultrasound” again, but rather about the following mission: to build the global computer that serves as the central infrastructure for a freer and more open Internet.
Vitalik Buterin
Because the development of a layer 2 ecosystem, however powerful and useful it may be, must not overshadow the importance of the layer 1 blockchain on which it is based.
