Vitalik Buterin Confirms Solution to Scale Ethereum 100x is Coming Soon
Ethereum’s co-founder, Vitalik Buterin, sees the Ethereum network scaling by a 100 factor and predicts the release of Optimism’s layer-two solution in the next few weeks.
Buterin noted that Eth2 development projects concentrate on developing the chain melting with Ethereum on the Tim Ferriss podcast and are adamant that layer-two solutions will sustain the network before the sharding establishment. Sharding helps with the network’s capacity to process transactions and store data.
In October, a Twitter thread revealed that the Eth2 roadmap was getting an update, and the scaling improvements would arrive sooner than previously anticipated. They would introduce the concept of rollups and combine it with sharding to create a synergistic effect to turbo-charge the Ethereum network capacity.
In the podcast, Vitalik shed light on rollups. He said that rollups are coming very soon, and they are fully confident that by the time they need any more scaling of that, sharding will have already been ready for a long time by then.
Rollups are secondary solutions to process and store transaction information on a specified side-chain before bundling transaction batches into the mainnet in Ethereum. The solutions aim to alleviate the scale-up of Ethereum, which resulted in fierce bandwidth competition on the Ethereum mainnet in high fees.
Whereas Eth2 uses sharding to ensure scalability when fully rolled out, Buterin claims that rollups are enough to increase the transactional performance of Ethereum by 100 times.
He added that you still have the blockchain’s ability to go up to somewhere between 1,000 and 4,000 transactions a second, depending on how complex these transactions are.
Optimism Rollups Will Launch Soon
Buterin continued to predict that Optimism is to launch its fully EVM-compatible Virtual Machine in a month. He also underlines Arbitrum’s significant achievements in its EMV-compatible rollouts.
Optimistic rollups rely on fraud evidence to avoid invalid state transfers. Some DeFi industry leaders will welcome them, and analysts speculate that the future Uniswap V3 update will use this. One of the first projects to use the technology will be Aave and Synthetix.
Ethereum CEO added that there are simpler rollups that can only process basic transactions exchanged between assets such as Loopring and zkSync. These rollups have been stable for approximately a year now — even rollouts are not theory. For nearly one year, they were a functional part of Ethereum’s scalability for a few users.
Last week, Buterin made the draft system to direct smart contract protocols across various layer-two scaling solutions. As the Ethereum network is bringing staking abilities to the crypto space, the blockchain DeFi world has been getting flooded with investors. As the community is commonly seeking each of these features, the hype around Ethereum becomes even more apparent.