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Vitalik Buterin Says Ethereum Will Scale to 100,000 Transactions per Second

by Daily Hodl Staff
July 1, 2020
in Ethereum

Vitalik Buterin says Ethereum is gearing up to supercharge its throughput as developers continue to work on the long-awaited ETH 2.0 update.

Ethereum 2.0 is designed to improve the blockchain’s scalability and performance as it shifts from proof-of-work (PoW) to proof-of-stake (PoS) consensus mechanism.

In a new tweet, the Ethereum co-founder says the switch to ETH 2.0 will not happen overnight, but it will eventually lead to the network scaling with the capabilities to handle 100,000 transactions per second (TPS).

Buterin says Ethereum will likely rely on rollups as the network transitions to ETH 2.0, meaning that second-layer solutions will boost the network’s speed before upgrades are implemented directly into the blockchain.

“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).”

The launch date of ETH 2.0 remains unclear amid delays in scheduled deployment. The initial roll out was set to begin in January, but researchers pushed it back.

ETH 2.0 will be rolled out in phases. In May, ETH 2.0 testnet coordinator Afri Schoedon said that based on the current progress of the project, phase 0 will likely happen at the end of this year or early next year. The initial phase will launch the beacon chain that will implement proof of stake.

 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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