10 Mar 2021 #Ethereum
Ethereum co-founder, Vitalik Buterin, believes the network is on the verge of scaling by a factor of 100, predicting the Optimism will release its layer-two solution in the coming weeks. Speaking on the Tim Ferriss podcast, Buterin noted Eth2’s developer are focused on working toward the chain merge with Ethereum, and are confident that layer-two solutions can support the network until sharding is developed. “Rollups are coming very soon,” he said, adding: “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.”
Rollups are second-layer solutions that process and store transaction data on a designated sidechain, before bundling batches of transactions together onto Ethereum’s mainnet. The solutions are designed to mitigate Ethereum’s scaling woes, where fierce competition for bandwidth on the Ethereum mainnet has resulted in skyrocketing fees.
While Eth2 will use sharding to ensure scalability when fully rolled out, Buterin believes rollups will suffice for the mid-term — emphasizing rollups could improve Ethereum’s transactional throughput by 100 times: Last week, Buterin authored a proposal for a system allowing smart contract protocols to directly communicate between one another across different layer-two scaling solutions.
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