Will The Ecosystem Completely Change With Ethereum 2.0?
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Within the crypto community, there is a lot of curiosity surrounding Ethereum 2.0. With its promise to enhance scalability and privacy on an impressive scale, this upgrade is expected to revolutionise the way the ecosystem works for Ethereum.
Speaking in a recent podcast, the co-founder of Ethereum, Vitalik Buterin asserted that Ethereum 2.0 is going to address all the problems that the ecosystem has been having to deal with ever since it was created.
Specifically, a situation that occurred in 2017 where the app CryptoKitties slowed down the network and put transactions in a constant state of purgatory was mentioned in the podcast. The co-founder was then asked in the podcast how Ethereum 2.0 would help in situations like these.
In response, Buterin said the following:
“Current Ethereum chain can do 36 transactions a second. If you do a roll-up – optimistic roll-up or a ZK roll up, it goes up to 2,500. If you do just Sharding, it goes up to maybe 2000 and 10,000 and a roll-up on top of sharding, it goes up to a hundred thousand to a million per second.”
In a separate interview, Buterin highlighted that Ethereum 2.0 will be providing further limits for users through the use of scaling, procedures, sharding and much more. This will be alongside a new proof-of-stake system. He further added that the upgrade would give users the ability for private transactions and that contracts could be completed without needing to demonstrate the content of such activities.