Cryptocurrency

21/03/19 11:19 UTC-4

Vitalik Buterin wants to increase the scalability of Ethereum to 100,000 transactions per second

Scalability to 100,000 transactions per second: Buterin told how to improve Ethereum
Scalability to 100,000 transactions per second: Buterin told how to improve Ethereum

Vitalik Buterin said that the bandwidth of Ethereum should grow to 100 thousand transactions per second. In a conversation with the head of Abra, Bill Barhydt, Buterin spoke about the main goals of the Ethereum network.

According to Buterin, the bandwidth of the second level of cryptocurrency capitalization should increase 6,000 times to ensure a better network performance. In addition, cryptocurrency developers will soon improve the scalability of the Ethereum blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details
and take care of the simplicity of the design.

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Vitalik Buterin about the necessary changes for Ethereum

As is well known, the blockchain of the Ethereum network currently can process up to 15 transactions per second. According to Buterin, developers are now seeking to accelerate scalability and throughput.

"(...) The Ethereum blockchain can currently process 15 transactions per second. In fact, we are aiming for 100,000"

Buterin explained the possibility of improving the network as "first-level scaling" and "second-level scaling". The first is the improvement of the blockchain protocol itself, and in the second, the "sharding".

Sharding – blockchain technology for data separation in the chain. By splitting the information into smaller pieces of "shards", the verification of transactions, smart-contracts, etc. is optimized.

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As Buterin said, sharding can increase the throughput of Ethereum to 100,000 transactions per second and positively affect the privacy of customers. Speaking about scaling problems, Buterin mentioned Bitcoin. The developer is convinced that his team should achieve a significant increase in Ethereum network bandwidth. Otherwise, Bitcoin may force ETH out of the cryptocurrency industry.

Vitalik Buterin said he was going to increase the scalability of Ethereum to 100,000 transactions per second. Recall that quite recently Buterin told what kind of cryptocurrency he holds in his wallets.

Editor: Jerg Wos

See also: "A massive transfer of 1 billion XLM is discovered after World Wire"

#cryptocurrency #blockchain #Ethereum #VitalikButerin #sharding #scalability

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