Ethereum can achieve a million transactions per second

Buterin believes that Ethereum can process up to a million transactions per second, using second-layer solutions
04 June 2018   1751

One of the main disadvantages of crypto have long been the slow transactions. Developers are constantly trying to find ways to speed them up and reduce the transaction and confirmation time. Vitalik Buterin, Ethereum co-creator, has claimed that Ethereum can reach a million transactions per second, using second-layer solutions such as Sharding and Plasma.

During the new OmiseGo AMA session Vitalik Buterin has once again expressed his beliefs that Ethereum blockchain can process up to a million transactions per second by utilizing second-layer solutions.

For those new to the topic, Plasma allows Ethereum to handle “micropayments” on child blockchains, and Sharding divides the blockchain network into sections, or “Shards” as they are called, which simplifies the processing of the new data on the blockchain by the nodes. Theoretically, each of this solutions can provide a scaling by factor of 100, if implemented.

In the Buterin's opinion, layer 1 and 2 networks are complementary, because the scalability gains are multiplied, if the approaches are stacked, instead of developers competing against each other to see whose approach is better.

“If you have a Sharding solution, the Sharding solution itself might increase the scalability of Ethereum by a factor of 100, or eventually even more. But then, if you do Plasma on top of the scalability solution, then what that means is, you’re not just doing 100 times of the amount of activity but you are doing 100 times the amount of entrances, the amount of exits, and despite resolutions. So if you get a 100x from Sharding and a 100x from Plasma, those two basically give you a 10,000x scalability gain, which basically means blockchains will be powerful enough to handle most applications most people are trying to do with them”, Buterin said.

This line of thought is not new for him, he has already mentioned the same thing during 2017 Disrupt SF Conference when speaking with venture capital investors.

Buterin to Propose Way to Speed Up ETH 2.0 Migration

Vitalik Buterin,creator of Ethereum, believes the eth1 system can exist as a zero shard in eth2 
25 December 2019   277

Ethereum founder Vitalik Buterin proposed a solution that allows you to quickly get rid of the Proof-of-Work (PoW) algorithm chain and move everything in Ethereum 2.0 to Proof-of-Stake (PoS).

According to him, the eth1 system can exist as a zero shard in eth2.

Validators who choose to participate in eth1 will be able to register as friendly. They are expected to support the full eth1 node in addition to the eth2 node.

A full eth1 node will load all blocks of the zero shard and maintain the updated state of the old circuit.

Buterin believes that his proposal does not make any changes to the planned procedure for the transition from eth1 to eth2. Only software for stateless clients and witness size changes in the eth1 protocol are required.