ETH 2.0 benefits will come faster than people expect, Vitalik says in AMA

During a recent Ethereum Foundation AMA, Vitalik Buterin explained his expectations for Ethereum 2.0.

NEWS

Image for post
Image for post

Ethereum co-founder Vitalik Buterin recently answered a number of community questions as part of an “ask me anything,” or AMA, session on Reddit. During the AMA, hosted by the Ethereum Foundation’s ETH 2.0 research team, Buterin said that he expects noticeable network improvements sooner rather than later.

“TLDR: merge happens faster, PoS happens faster, you get your juicy 100k TPS faster,” Buterin said on Wednesday as part of the foundation’s fifth AMA on ETH 2.0.

Ethereum’s network has suffered periods of high congestion at various points over the years, depending on various applications and related traffic. CryptoKitties slowed the Ethereum network to a crawl in 2017. More recently, decentralized finance activity has clogged Ethereum’s blockchain, leading to high fees and longer-than-average confirmation times.

Ethereum 2.0 poses a scaling solution that vastly increases the number of transactions per second. It will also move the blockchain to a different consensus algorithm known as proof-of-stake. Though the transition has faced a number of delays, the team says that it is currently aiming for a Dec. 1 launch date for ETH 2.0 Phase 0.

Rollup-centric upgrades, a simplified merge and the parallelization of phases are among the top revisions to ETH 2.0’s roadmap, according to Buterin, which impact the final network results. “All of these changes are designed to decrease the time until eth2 becomes useful to people,” Buterin said.

Scaling, in general, has been a hearty debate in the crypto space, not just with Ethereum but also for other assets, such as Bitcoin.

Image for post
Image for post

By BENJAMIN PIRUS

Source

Written by

WORLDS FIRST SECURE, INTERFERENCE-FREE, COMMUNICATIONS SYSTEM TO PROTECT YOUR PRIVATE DIGITAL ASSETS AND DATA.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store