“Ethereum is like a world computer—an enormous and diverse online economy and a global community, all at the same time.”In a packed room, Vitalik Buterin, Ethereum’s co-founder, shared how Ethereum has grown from an idea to one of the most important decentralized networks today. He highlighted major achievements, including Ethereum’s switch to a new, more sustainable way of processing transactions called “proof of stake” (PoS). This upgrade has helped Ethereum become more efficient and environmentally friendly.Ethereum is called a “world computer” because it lets a network of computers (or nodes) work together to run applications without any central authority. It’s like a shared computer that anyone can use to build or run software—without needing to rely on a single company or organization.One of the biggest milestones in Ethereum’s growth was the shift from “proof of work” (PoW) to PoS, which helped lower energy use and made the network more secure and accessible for people worldwide.Buterin talked about how PoS, along with Ethereum’s unique setup of having multiple “clients” (or ways for people to connect to the network), improves the network’s security and keeps it decentralized, or free from a single point of control. This shift made Ethereum more sustainable, secure, and fair.He also emphasized Ethereum’s efforts to grow and handle more users. The network is designed in two layers: layer one, the base layer, keeps everything secure and decentralized, while layer two solutions help Ethereum handle more transactions faster and at lower costs. These layer two solutions, like Optimistic Rollups and ZK Rollups, process transactions off the main network and then report back to it, allowing Ethereum to manage more activity efficiently.Buterin noted that layer two fees have dropped dramatically—this year, they went from 50 cents to less than 0.1 cent per transaction. This change makes Ethereum much more affordable for developers and users, opening the door to more types of applications, including financial tools, gaming, and digital identity systems.Beyond these technical improvements, Buterin pointed out that Ethereum has the potential to support both financial and non-financial applications that provide value beyond just money. By enabling various uses, Ethereum can serve public needs and connect people worldwide.He closed by encouraging ongoing improvements, saying that while Ethereum has come a long way, it will need to keep evolving to meet

future challenges.