Will this serve as a sticking plaster until the Proof-of-Stake upgrade is completed?
The issues with Ethereum's scalability should soon be a thing of the past, co-founder Vitalik Buterin has said.
While speaking as a guest on the Tim Ferriss podcast, Buterin confirmed that the network should be able to scale by a factor of 100 in the next month.
Buterin went on to clarify that the Eth2 chain is already running, which demonstrates that there’s already a Proof-of-Stake chain, but it doesn’t have sharding just yet.
The next stage of the upgraded network would be to merge all the existing activity on Ethereum, moving it over from Proof-of-Work to Proof-of-Stake.
The co-founder explained that they decided to take this multi-step approach to give Proof-of-Stake time to demonstrate its worth prior to the entire network upgrading.
Sharding is Still the Future
While Ethereum 2.0 still holds sharding in its vision for delivering scalability, Buterin also shared his views that rollups would offer a solution in the interim, allowing Ethereum to enhance its transactional capabilities by up to 100 times. He explained:
“If you have rollups, but you do not have sharding, you still have 100X factor scaling, right? You still have the ability for the blockchain to go up to somewhere between 1,000 and 4,000 transactions a second, depending on how complex these transactions are. And so with rollups, as I mentioned, the optimism, fully EVM capable rollup is likely to launch, an initial being that release in around a month or so.”
It is hoped that until sharding is deployed, the rollup solution will take the pressure off Ethereum — helping it to solve its scaling problems and as a result help reduce its massive fees.
Buterin acknowledged that there had been some differences of opinion within his team when it came to scaling but they weren’t deep fundamental disagreements — saying:
“Either approach is going to have lots of scalability and it’s going to deliver great environments for Ethereum users.”
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