Ethereum Creator Vitalik Buterin: 100X Boost In ETH Transaction Throughput Is Imminent

It’s been just revealed that Ethereum co-founder Vitalik Buterin said that his team maybe a few weeks away from migrating to the smart contract’s scaling issues.

During an episode of the Tim Ferriss Show, he explained that the rollups could improve ETH’s scalability ahead of the much-anticipated ETH 2.0 launch.

He believes that the temporary fix to Ethereum’s network congestion issues could be ready in a few weeks, and this will improve the smart contract platform’s transaction throughput by 100 times.

“…Basically, the proof-of-stake thing exists, has been stable, running ever since the launch, and at some point fairly soon, we are going to actually go and merge all of the proof-of-work activity onto it,” he said.

He continued and said: “So sharding is also going to happen… I will admit that we were actually prioritizing the merge even more than sharding recently. The reason why for this actually has to do with the other thing, which is rollups, right? The thing to remember is that if you have rollups, but you do not have sharding, you still have 100X factor scaling, right?”

He also said that “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. And so with rollups, as I mentioned, the optimism, fully EVM capable rollup is likely to launch, an initial being that release in around a month or so.”

Optimistic predictions about the price of ETH

Regarding ETH’s price today, at the moment of writing this article, ETH is trading in the green and the coin is priced at $1,886.20.

There have been all kinds of optimistic predictions about the price of ETH these days.

The crypto market seems to be recovering following some correction periods. Ethereum is not an exception, and there are all kinds of bullish predictions about the price of the coin these days.

Check out the latest one that claims that ETH can hit $2k soon.

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  • […] forced to look for other alternatives. Amid the current scaling issue, the CEO, Vitalik Buterin has announced that his team may be close to providing solutions. He revealed that layer-two solutions could […]

  • […] forced to look for other alternatives. Amid the current scaling issue, the CEO, Vitalik Buterin has announced that his team may be close to providing solutions. He revealed that layer-two solutions could […]

  • […] CEO da Ethereum, Vitalik Buterin, anunciou que sua equipa pode estar perto de solucionar os problemas de escalabilidade da […]

  • […] Ethereum Creator Vitalik Buterin: 100X Boost In ETH Transaction Throughput Is ImminentMarch 13, 2021March 13, 2021 […]

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