Cryptocurrency

Ethereum breakthrough by enormous scalability? Vitalik Buterin presents 100,000 transactions per second, the prospect of

One of the biggest problems of many block chains of Crypto-projects or crypto-currencies, the limited scalability is. This results from the so-called Trilemma, which consists of security, decentralization and scalability. The Problem here is that so far there is no Blockchain, which covers all 3 areas, what is also, in theory, is difficult. As the digital world computer Ethereum needs to have a certain degree of scalability, in order to be successful in the long term. This is exactly why the Updates to the ETH 2.0 are meant to be. Vitalik Buterin presents his Follwern now a massive improvement on this point in view.

Phase 1 of the Ethereum 2.0 100,000 TPS

In a new Twitter Post from the 30. June, the co-founder of the second largest crypto-currency, Ethereum is the issue of scalability and possible solutions for the Blockchain. .

In doing so, he provides his followers and Ethereum Fans a massive improvement in scalability of up to 100,000 transactions per second by the Updates to the ETH 2.0 in view, the developers are working at full speed.

The ETH2-scale data will be *before* the ETH2-scaling for General purpose calculations available. This implies that Rollups for at least a couple of years will be the dominant scaling paradigm: first, ~2-3k TPS with eth1 as the data layer, then ~100k TPS with eth2 (Phase 1). Adjust accordingly.

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Furthermore, unclear Start of ETH 2.0

Buterin says that Ethereum will likely be set to “rollup”, if the network is switched to the ETH 2.0. This means that a Second Layer solutions will increase the speed of the network before Upgrades are implemented directly in the Blockchain.

However, the actual Launch of Ethereum 2.0 is more unclear and has been postponed many times in the past. According to the Plan, ETH 2.0 will be in several phases rolled out. According to the current planning 0 at the end of this year or at the latest the beginning of next year, it is provided for the Phase.

Ethereum 2.0 will be generally developed to Improve the scalability and performance of the ETH Blockchain. The developers decided for a Transition from the Proof-of-Work (PoW) to Proof-of-Stake (PoS) consensus mechanism.

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About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.

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