Jun 30, 2020
Comments Off on Ethereum Creator, Vitalik Buterin, says Network Will Scale to 100k TPS Before 2.0
0 0

Ethereum Creator, Vitalik Buterin, says Network Will Scale to 100k TPS Before 2.0

Written by

vitalik buterin on ethereum scalability

Vitalik Buterin, the co-creator of Ethereum looks to end the apprehensions around Ethereum’s scalability problems for good. He reveals that what seems a never-ending process on the outside is partially ready to scale even today. 

With the activation of the second phase itself, the network will eventually be able to process 100k transactions per second. He tweeted,

ETH2 scaling for data will be available *before* ETH2 scaling for general computation. This implies that rollups will be the dominant scaling paradigm for at least a couple of years: first ~2-3k TPS with eth1 as data layer, then ~100k TPS with eth2 (phase 1). Adjust accordingly.

Essentially, what Buterin is suggesting here that while the completion of the launch of Ethereum 2.0 might take a few years, the network is not likely to run into any scalability issue. Moreover, since the majority of the transactions (around 90%) on Ethereum are based on smart contracts currently, the data layer scalability is all that matters for now.

Furthermore, the test-net for optimistic roll-ups is live. The security for these applications is anchored on the Ethereum mainchain itself. Vitalik tweeted,

Anyone who’s *just* moving ETH / ERC20 / ERC721 tokens around should be looking at how to get onto a rollup today. Gasprices on base chain would probably fall greatly if it was only used for the more complex stuff.

The emphasis on ‘just’ seems to reflect vulnerability to unforeseen technicalities on the test-net.



Article Categories:
CoinGape · News

Comments are closed.