The founder of Ethereum, Vitaly Buterin, expressed the opinion that for the network of the second most capitalized cryptocurrency, it is vital in the long term to achieve a throughput of 100 thousand transactions per second. It is reported by The Daily Hodl .
During the conversation with the head of Abra, Bill Barkhidt, Vitalik noted that the developers are focused on several main issues – scalability, privacy and ease of use.
“As regards scaling, the Ethereum blockchain can currently process 15 transactions per second. In fact, we are striving for 100,000 , ”he added.
According to him, in the context of solving the problem of scaling, the Ethereum team has high hopes for sharding.
“There are two main approaches that we use in solving the problem of scalability. One of them is the scaling of the first level, the other is the scaling of the second level. In the first case, the improvement of the blockchain protocol itself is meant to handle more transactions , explains Vitalik. “ Our solution, called sharding, makes it possible to split different transactions into randomly selected groups of computers. In essence, this means that the blockchain will be able to process much more operations. This will increase the scalability of 1000 times and even more. "
Sharding is a technology that divides data in the blockchain into more manageable parts (shards). At the same time, nodes store only part of the data, relying on information from other nodes. The technology optimizes the process of checking transactions and smart contracts, increases network bandwidth and scales it without sacrificing decentralization.
According to Vitalik, Ethereum developers also continue active work on second-level scaling solutions:
“There are two main types of systems we are working on in this context. One of them is status channels. There are a whole bunch of teams working on them. For example, in Toronto, there is the L4 team, which did a really good job. Another project is Plasma, on which they also worked hard. ”
Discussing the problem of scaling, Buterin mentioned Bitcoin. According to him, developers should achieve a significant increase in network bandwidth Ethereum. Otherwise, the second cryptocurrency capitalization will not be actively involved in everyday transactions and a significant market share will remain behind BTC.
“If Bitcoin wants to be only a means of saving value, then in reality it is probably even good. However, I think they should switch to Proof-of-Stake. If they really want to become the main means of payment, then scaling the base level, speeding up the blockchain and reducing the block production time are also very important for them. ”
Recall that on the last day of winter hardfork Constantinople took place on the Ethereum network .
Up to now, the update has not particularly affected the price of the second largest cryptocurrency capitalization. However, according to the Fundamental Crypto Asset Score , Ethereum has a higher rating than Bitcoin:
The system tracks developer activity and customer involvement, and then makes a conclusion about the viability of the project.
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