Back in late 2017, I was curious about a particular technology called Ethereum when I understood its incredible potential to change the world. I assembled a team of software engineers I met on the Internet that shared this vision and for 4 years, we have worked tirelessly to upgrade the system to one that is more economically and environmentally sustainable.
On Thursday, September 15th 2022, we shipped the biggest upgrade in its history. Ethereum is now a system that no longer requires damanging the environment via cryptocurrency mining. For years, many thought this to be so complex that we would never pull it off. This "proof-of-stake" system, which the MIT technology review hails as one of the most groundbreaking innovations in modern day, represents the ability to create a truly global system that replaces trust in humans with trust in math as a transaction settlement layer.
With the upgrade now live, we still have a lot of work to do. Moving forward, proof-of-stake paves the way for some really interesting innovation on the Ethereum blockchain, which plans to become the most scalable, decentralized, and secure smart contract chain in the world. There are many open questions left to answer, and no one has all the solutions. This is what keeps us going. When years of work finally materialize, it actually feels like very little changed. Instead, it's just one more step in this wild journey.