Stand with Ukraine and Donate here

Ethereum creator believes that network scalability depends only on second-tier solutions

Oct 5, 2020 | News
Ethereum creator believes that network scalability depends only on second-tier solutions

Vitalik Buterin, the creator of the second-largest cryptocurrency by capitalization Ethereum, believes that a quick solution to the problem with network scalability should not be expected. In the long term, and with the transition to version Ethereum 2.0, it is possible. But in the short term, only the second tier protocols can improve the situation.

Actually, he was guided exactly by this idea by when he published the new project roadmap. Rollups technology plays a significant role in it. Which, theoretically, during the transition to version 2.0, will be able to increase the network bandwidth from 15 TPS to 100,000. But at the current stage, it will also increase the performance and reduce transaction costs.

At the same time, the founder of Ethereum believes that second-level protocols should initially be built into wallets, and not into web pages, like in most decentralized applications. After all, such integration requires additional trust from the user, which is not very consistent with modern security standards.

Therefore, the plans are to implement second-tier solutions directly into wallets (like in MetaMask). This will maintain a more effective trust model and security level.

However, not everyone agrees with this initiative. Hudson Jameson, the developer of the Ethereum blockchain, objects that such an "improvement" will negatively affect the simplicity of the project and make it less convenient for ordinary users. But Buterin does not see any other possible options. Especially in the short and medium term.

The fact that the recent launch of the "test version" of the network, Spadina, failed due to numerous bugs, doesn't inspire much optimism. Therefore, the project was returned for revision, and it was decided to use Zinken as a test network.

The experience of the Bitcoin blockchain has shown that second-level protocols can both significantly improve the network performance and give it some additional functions. It is not surprising that Buterin decided to take advantage of the solutions that were already tested to overcome the crisis. But Ethereum is currently in this position - due to the sharp increase in the popularity of decentralized finance, the performance has dropped dramatically and transaction costs have increased. And this problem needs to be solved as quickly as possible before dissatisfied users begin to get disillusioned with the very idea of using blockchain to solve their economic problems.

Published on the EXBASE based on materials from forklog.com