Ethereum expects to increase transactions per second, or TPS, as the network shifts to the long-awaited Bitcoin Evolution, or ETH 2.0, according to Ethereum co-founder Vitalik Buterin.
Vitalik says the transition will not be instantaneous
„Scaling to ETH2 for the data will be available before the ETH2 scale for the overall calculation,“ Buterin of Ethereum said in a June 30 tweet.
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„This implies that accumulations will be the dominant scale paradigm for at least a couple of years: first ~2-3k TPS with ETH1 as a data layer, then ~100k TPS with ETH2 (phase 1),“ he said, adding, „Adjust accordingly.
Basically, Buterin said the network will not instantly switch to Ethereum 2.0. By mentioning cumulative packets, Buterin is referring to a second layer at the top of Ethereum as part of the equation, using the current base block chain of Ethereum, and then switching to Ethereum 2.0 as the base block chain. The transition to ETH 2.0 will produce between 2,000 and 3,000 TPS, leading to eventual capacities of 100,000 TPS.
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The great escalation debate
For years, the crypto-currency community has debated the issue of scalability. Bitcoin, the leading crypto currency asset, only offers about 7 TPS, while credit cards like Visa handle about 24,000 TPS on average, which leads to comments about the viability of Bitcoin as a real-world payment option.
Ethereum update indicates that version 2.0 is on its way
Ethereum has also seen difficulties. The network developed slowly when the blockchain game CryptoKitties came on the Internet several years ago.
Ethereum 2.0, a scaling solution that makes the transition from network to consensus testing of participation, or PoS, has been a big topic of discussion in recent months. Last week, the Ethereum blog posted updates on ETH 2.0 as the effort unfolds.