According to the Creator of Ethereum Vitalik Buterin, solutions for scaling, such as sharding and Plasma, will allow cryptocurrency network to handle 1 million transactions per second and able to achieve throughput of 100 million transactions per second. This writes the CCN.
Earlier in the presentations at various conferences Buterin repeatedly stressed that decentralized networks and protocols, including Ethereum, face problems of scalability.
In September 2017 during an interview at the conference Disrupt SF 2017 Buterin noted that bitcoin and Ethereum in terms of peak load is treated with a 3-6 transactions per second, adding that to support the major payment systems, similar to Visa, the stock markets like the Nasdaq and networks of the Internet of things (IoT) blackany needs to handle hundreds of thousands transactions per second.
“Bitcoin currently handles a little less than three transactions per second. If he is approaching four, it has already reached peak capacity. Ethereum holds five transactions per second and the peak bandwidth, if it goes above six. On the other hand, Uber handles on average 12 trips per second, PayPal conducts hundreds of transactions, Visa is a few thousand, a major stock exchange – the tens of thousands, in IoT we are talking about hundreds of thousands of transactions”, — he said.
Answering the questions of users, Buterin said that the decision to scale the second level, the tests are currently being conducted in testate Ethereum, can allow the blockchain to implement support for large-scale decentralized applications with millions of users.
Technology of sharding is to split blockchain into segments, each of which corresponds to a group of nodes that handle a limited set of transactions. By sharding the node will no longer need to handle all network data that helps to optimize the performance of the blockchain.
Plasma operates on the principle of technology Lightning Network designed for bitcoin blockchain, Ethereum will allow to process microtransaction in third-party blockchains, which will reduce the load on the core network cryptocurrency.
“I believe that the decisions of the first and second levels complement each other. Sharding individual will be able to increase the scalability 100 times, and in the future even more. If we add to this Plasma, not only the scalability will increase in 100 times, but the number of inputs and outputs will also increase by 100 times”, — he explained, adding that a combination of solutions first and second levels scalability of Ethereum, can grow 10,000 times that will allow the blockchain to process millions of transactions per second and support more apps.
“If we take from sharding 100x and 100x from Plasma, we get a total increase scalability at 10 000x, and so blackany will be able to cope with most tasks that most people are trying to solve with them”, — said Buterin.