Ethereum founder Vitalik Buterin expressed the opinion that for the network the second capitalization of the cryptocurrencies is vital in the long term to achieve the throughput of 100 thousand transactions per second. About it reports The Daily Hodl.
During the conversation with the head of the Abra bill Barchetta Vitalik noted that the developers focus on a few key issues — scalability, privacy and ease of use.
“As for the scaling, the blockchain Ethereum is currently able to handle 15 transactions per second. In fact, we strive for 100 000”, he added.
According to him, in the context of solving problems of scale, the Ethereum team has high hopes for sharding.
“There are two main approaches we use in solving the problem of scalability. One of them is the scaling of the first level, the other is the scaling of the second level. In the first case, means improving the blockchain Protocol to handle more number of transactions, — says Vitaliy. Our solution is called sharding allows you to split transactions on a randomly selected group of computers. Essentially, this means that the blockchain can handle a lot more operations. This will improve the scalability of 1000 times or more.”
Sharding is a technology that divides the data in the blockchain into more manageable pieces (shards). The nodes store only part of the data, relying on information from other nodes. The technology optimizes the process of verifying transactions and smart contracts, increases network bandwidth and scales it without sacrificing decentralization.
According to Vitalik, the developers of Ethereum will also continue to work actively on solutions to the scaling of the second level:
“There are two main types of systems on which we are working in this context. One of them is the channels state. There are a whole bunch of teams working on them. For example, in Toronto there is a team L4, which has done a really good job. Another project Plasma, which also did a good job”.
Discussing the scaling problem, Buterin mentioned bitcoin. According to him, developers should achieve a substantial increase throughput Ethereum. Otherwise, the second by market capitalization the bitcoin will be utilized for daily transactions and a large share of the market will continue for the BTC.
“If bitcoin wants to be a store of value, in fact it’s probably a good thing. However, I think they should switch to Proof-of-Stake. If they really want to be the main means of payment, it is very important for them also scaling basic level, acceleration of the blockchain and reduce the time of production block”
Recall that in the last day of winter in Ethereum held hardwork Constantinople.
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