Vitalik Buterin: Ethereum to be “100x” more scalable soon

Vitalik Buterin: Ethereum
Ethereum creator Vitalik Buterin said in a new statement that until the completion of the Ethereum 2.0 shading development, the Cryptocurrency network will use the Rollup transaction classification solution to solve the scalability problem.

According to the Cointelegraph, Buterin appeared on the Time Ferriss podcast and said that the Ethereum network was about to increase its scalability 100-fold. He predicted that Optimism would implement its second-tier solution in Ethereum in the coming weeks.

In another part of his speech, he said that the developers of Ethereum 2 are working on integrating this network with Ethereum. According to Buterin, developers are confident that until the full development of Sharding, second-tier solutions can overcome network problems. Buterin added:

Ethereum classification capabilities will be implemented in Ethereum soon. We’re pretty sure that when we need more scalability, sharding is long over.

Transaction classification is a second tier solution that processes and stores transactions in a specific side chain. After this, transactions in a batch (including multiple transactions) are transferred to the main Ethereum network. Layer 2 solutions are implemented to overcome the Ethereum scalability problem. At the same time as the Ethereum network was busy, we saw a sharp increase in the network’s fees. Congestion fills the network bandwidth, forcing users to pay higher fees.

Setting up Sharding will also solve the Ethereum scalability problem. Buterin believes that in the medium term, the ability to classify transactions can solve this problem. “Classification increases the efficiency of transactions 100 times,” he said.

It should be remembered that if you have the ability to categorize but do not have sharing, your scalability will still increase 100 times. You also give the blockchain the ability to verify between 1,000 and 4,000 transactions per second. This rate depends on the complexity of the transactions.

Butrin predicts that Optimism will be able to categorize transactions for the Ethereum Virtual Machine (EVM) in the next “about a month.” He added that the Arbitrum classification of transactions is also being developed on the Ethereum network.

Large Defi projects such as UniSwap version 3, Aave, and Synthetix are said to be among the first familiar letters to add transaction categorization.

Buterin said in another part of his speech:

There were also simpler types of classification capabilities that could only process simple asset transactions; Such as Loopring and zkSync. These samples have been operating steadily for a year; So the ability to categorize transactions is not just on paper. For almost a year now, these features have been operationalized as a scalable implementation solution for a small number of users.

Buterin last week unveiled a plan for the Ethereum development team that allows smart contract protocols to connect directly to second-tier scalability solutions.

Vitalik Buterin: Ethereum to be “100x” more scalable soon