TL;DR Breakdown
- Ethereum developers are preparing to roll out a solution that will scale Ethereum by 100x.
- The layer-two solution will sustain the network activities until sharding is completed.
The Ethereum blockchain has since been hit with scalability issues, which consequently resulted in congestion and high transaction fees on the network. However, the co-founder of Ethereum, Vitalik Buterin, disclosed on Tim Ferriss’s podcast that Ethereum developers are working on a solution that can scale the blockchain network by almost a 100 times. The developers are confident that the solution will sustain the network until sharding is ready.
Ethereum developers set to scale ETH network
Ethereum developers are planning to scale the network through a layer-two solution, according to Buterin. The planned solution is expected to be launched in the coming weeks. Buterin precisely said:
“Rollups are coming very soon. 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.”
Buterin is confident that the planned rollups will increase the network’s transactional throughput by 100 times. Basically, they are second-layer solutions that will help to process and map transaction data on sidechains before being transferred to the mainnet. This supposedly should sustain the network and essentially decrease the expensive transaction fees while the Ethereum developers work on sharding. Ethereum 2.0 or serenity will use sharding to ensure scalability.
“The thing to remember is that if you have rollups, but you do not have sharding, you still have 100X factor scaling, right? 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.”
The quest for ETH scalability
In recent days, many Ethereum users complained and deserted the network as the transaction fees hit the roof. Some projects running on the network were forced to switch to other networks, mostly the Binance Smart Chain (BSC). The daily transaction count on BSC skyrocketed, as a result, surpassing that of Ethereum.
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