According to Vitalik Buterin, Ethereum (ETH) will be able to reach 100,000 transactions per second
During his keynote speech at EthCC this week, Vitalik Buterin outlined his vision for Ethereum’s future after The Merge, the move to Proof of Stake (PoS). The famous smart contract blockchain needs to go through a series of updates that should bring it to a capacity of 100,000 transactions per second.
Vitalik Buterin explains the Ethereum roadmap
When fifth edition of the EthCC conferencewhich took place this week in Paris, Vitalik Buterinthe founder of Ethereum, took the stage to outline the next steps in the development of the network.
As recently announced, the famous merger, which will mark the transition from a Proof-of-Work (PoW) consensus to a Proof-of-Stake (PoS) consensus, is scheduled to take place on September 19. The merger must Reduction of network energy consumption by 99%. But according to Vitalik Buterin, Ethereum will only be at 55% of its development when this step is completed. This is followed by other major projects, which we will discuss in more detail:
- The Rise;
- The edge;
- The purge;
- The wave.
Ethereum upgrade roadmap
The rise that will be the next big step Sharding will be implemented after The Merge. It is scheduled to arrive in 2023 and consists of a fragmentation of operations of the network. One could illustrate this by comparing the update to the entry of Taylorism into industry at the beginning of the 20th century.
Ethereum is divided into shards (or fragments), and each of them is given a specific action the smooth running of the consensus. Like a production line in a factory, this horizontal cut will greatly increase productivity. This productivity is symbolized here by the number of transactions per second.
This shards then forwards their information to the main channel, the beacon chainto anchor the blocks in the blockchain.
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The Verge, The Purge and The Splurge, three more distant events
Without going into great technical details, The Verge allows you to do this reduce block size. At the same time, validators need to store less data. It is in fact an optimization of Merkle trees, the mathematical concept allows to contain the information of a block in one cryptographic hashes.
These new, more powerful features are called “Verkle trees.” Since less storage is required, it would then be “easier” to become a validator, which could improve decentralization.
As a continuation of this improvement, The Purge will make this possible to clean the blockchain of all its excess data. This also helps to reduce the disk space required by validators.
All of these steps must lead to a drastic reduction in network congestion, and it is on these predictions that Vitalik Buterin relies to predict an Ethereum 100,000 transactions per second. Finally, The Splurge will consist of a continuous improvement of all previous updates. This last phase will also allow to verify this the machine runs perfectly.
Of course, if The Merge is very close, the rest is farther away. However, these are necessary steps in building the Formidable technological revolution what is ethereum.
👉 Also in the news – EthCC [5] : What to remember from the 5th edition of the Ethereum Community Conference
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Source: Vitalik Buterin, Image: John Phillips via Flickr (CC BY 2.0)
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I shyly discovered the world of blockchain at the end of 2018 on my search for financial freedom. Initially investing moderately, it was only two years later that I dared to risk everything in the movement that was emerging at the time. In 2021 I will then dedicate myself to further training in order to acquire more knowledge and seriousness. As I often say, I still have a billion things to learn. And what I know, I want to share with you.
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