Vitalik Buterin Confirms 100x Scaling Solution for Ethereum Coming Soon
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Vitalik Buterin Confirms 100x Scaling Solution for Ethereum Coming Soon

March 11, 2021      Jafrin Ahmed

Ethereum’s co-founder Vitalik Buterin sees the Ethereum network scaling by 100 times ahead of its ETH 2 upgrade. Speaking to Naval Ravikant on the Tim Ferriss podcast, Buterin pointed to a powerful scaling solution aimed at reducing fees and the network’s congestion. At the time of writing, Ethereum (ETH) last was trading 2.72% lower at $1770.49.

Rollups Could Solve Ethereum’s Current Scaling Issues: Buterin

In an appearance on the Tim Ferriss Show podcast, Vitalik Buterin argued that Rollups could solve Ethereum’s current scaling issues. At least, till the sharding is deployed on Ethereum 2.0.

Rollups is a Layer 2 method of aggregating transactions inside smart contracts capable of increasing the platform’s spend from the current 15 TPS to more than 1,000 TPS. Vitalik added on these saying:

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“If you have rollups, but you do not have sharding, you still have 100X factor scaling. You still have the ability for the blockchain to go up to somewhere between 1,000 and 4,000 transactions a second, depending on how complex these transactions are.”

He remarked that rollups are soon coming on the Ethereum network:

“Rollups are coming very soon and we’re fully confident that by the time that we need any more scaling of that, sharding will have already been ready for a long time by then.”

However, he did warn on the risks associated with it that might hesitate people from switching over:

“I think there’s definitely a lot of people who are not going to be comfortable moving over just because it’s new technology and new technology always has risks, but I expect there will be plenty of applications.”

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Ethereum Anticipating Berlin Hard Fork

Rollups on the second layer will significantly decongest the network, resulting in lower transaction fees. The proposed rollups are expected to seamlessly transition to Eth2.0 mainnet.

While the exact date timing for the expected Rollups release is still to be revealed, the Ethereum network is expecting a Berlin hard fork among other upgrades. Scheduled for April 2020, the upgrade will introduce several features to the network’s underlying protocol.

#ETH 2.0 #Ethereum #Layer-2 #Rollups #Scaling Solution
Jafrin Ahmed
Jafrin Ahmed

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.