According to the co-founder of Ethereum, Ethereum hopes to increase transactions per second or TPS when the network shifts towards the long-awaited Ethereum 2.0 or ETH 2.0., Vitalik Buterin.
Vitalik says the transition won’t be immediate
“Scaling to ETH2 for data will be available for general calculations before ETH2 scaling.”Buterin from Ethereum said in a Tweet from June 30th.
“This implies that accumulations will be the dominant scale paradigm for at least a few years: first ~ 2-3,000 TPS with ETH1 as the data layer, then ~ 100,000 TPS with ETH2 (phase 1),” he added, adding: “Adjust accordingly” .
Basically, Buterin said the network would not immediately switch to Ethereum 2.0. By mentioning rollups, As part of the equation, Buterin refers to a second layer on Ethereum, using the current Ethereum base blockchain and then switching to Ethereum 2.0 as the blockchain base. The transition to ETH 2.0 will produce between 2,000 and 3,000 TPS, which will lead to capacities of 100,000 TPS.
The big escalation debate
The cryptocurrency community has been debating scalability for years. Bitcoin, the leading cryptocurrency asset, only offers around 7 TPS, while credit cards like Visa process an average of around 24,000 TPS, leading to comments on the profitability of Bitcoin as a real payment option.
Ethereum has also seen difficulties. The network developed slowly when the blockchain game CryptoKitties went online a few years ago.
Ethereum 2.0, a scale solution that enables the transition from network to consensus through proof of use (PoS), has been a major topic of discussion in recent months. Last week, the Ethereum blog showed ETH 2.0 updates as the effort unfolded.