Ethereum witnesses a boost, as Vitalik Buterin said "ETH's merge is almost 55% complete".
Vitalik Buterin recently said that the Ethereum network will be highly optimized for handling the transactions much faster. He said the upcoming infrastructure will be able to process 100,000 transactions per second and will revolutionize the blockchain industry.
Vitalik said that the network might see “short-term pain, but there will be surely long-term gain” as the network is being prepared for the merge and other major changes which will be a long and complex process. The discussion happened during his presentation at the 5th edition of the EthCC conference in Paris.
After the L2 line-up, the network could unlock many opportunities and become much faster and scalable, similar to the Matic (polygon) blockchain. As of now, at the time of writing this article, Ethereum is ranked #2 at the price of $1,600 and marketcap of $196B respectively.