Cryptocurrency (Mar 11, 2021 04:30AM ET)
100x scaling coming to Ethereum, Vitalik confirms
If the words of Ethereum’s co-founder, Vitalik Buterin, are anything to go by, then issues such as congestion on the Ethereum network may soon become a thing of the past. During an interview with Naval Ravikant on the Tim Ferris Podcast, the co-founder addressed some of the major bottlenecks plaguing the Ethereum network.
Whilst revealing that Optimism’s layer-two solution would be released in the next few weeks, Buterin said that he sees the Ethereum network scaling by a factor of 100.
Buterin shed some light on rollups as an interim scaling solution. The secondary solution provides a way to process and store transaction information on a designated side-chain before compiling transaction batches into Ethereum’s mainnet. Rollups aim to alleviate the existing scalability issues the network currently faces, which led to network congestion and high gas fees. He remarked:
Rollups are coming very soon and we’re fully confident that by the time that we need any more scaling of that, sharding will have already been ready for a long time by then.
Away from the layer-2 solution to be introduced by rollups, sharding is a layer-1 solution. The sharding protocol will be released along with the launch of Ethereum 2.0 and is designed to directly scale the network. But until then, Buterin claims that rollups are enough to increase the performance of Ethereum by 100 times.