Cryptocurrencies

100,000 Transactions / sec on Ethereum BEFORE version 2.0 (Buterin) – Cryptocurrencies

Although the launch of Ethereum 2.0 is still uncertain – we even got a misunderstanding about its release date – the club of 32 ETH is growing visibly. Pending the release of Ethereum version 2 (ETH), a solution had to be found to increase the transaction processing capabilities of the current version of the network.

Faster and less expensive

Vitalik Buterin recently spoke on Twitter to dispel concerns from the cryptosphere over scalability issuesEthereum.

Ethereum would support up to 100,000 transactions per second, even before the release ofETH 2.0, thereby solving scalability concerns on the network.

The co-founder ofEthereum, Vitalik Buterin, points out that roll-ups, these level 2 technologies that allow off-chain calculations, will remain dominant in the coming years.

The testnet for Optimistic Rollup is available : Buterin added in another tweet that users who just move tokens, should go for rollups in order to lower the price of gas, so as to reserve the basic chain for more complex operations.

Observers point out, however, that this testing phase could encounter many unforeseen events that would make the network vulnerable.

ETH 2.0: gradual advancement

The roadmapEthereum 2.0 includes 3 phases. The first phase or phase 0, which consists of setting up the Beacon Chain, is currently running.

Nearly 29,574 validators are currently active and have 100,000 ETH about 22 million dollars: their overall daily income is currently slightly below 250 ETH.

The multi-client testnet Altona, the third in a network test series, was released a few days ago.

The official launch of the Beacon Chain is scheduled for the fourth quarter of 2020. The switch to this new version ofEthereum will be done step by step and, the 2 versions of the blockchain will coexist until theETH2.0 is fully functional.

We are tinkering a bit while waiting for the release of Ethereum 2.0, a patching up necessary to cope with the increase in network transactions. Some sutures here, some dressings there!

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