Ethereum co-founder, Vitalik Buterin recently provided updates on the prevailing framework for Ethereum 2.0, detailing plans to optimize the scalability of the world’s second most valuable crypto by market value
Ethereum co-founder disclosed;
“The eth2 roadmap offers scalability, and the earlier phases of Ethereum 2.0 are approaching quickly, but base-layer scalability for applications is only coming as the last major phase of Ethereum 2.0, which is still years away.
“In a further twist of irony, Ethereum 2.0 usability as a data availability layer for rollups comes in phase 1, long before Ethereum 2.0 becomes usable for ‘traditional’ layer-1 applications.
“These facts put together lead to a particular conclusion; the Ethereum ecosystem is likely to be all-in on rollups (plus some plasma and channels), as a scaling strategy for the near and mid-term future.”
Recall Nairametrics, earlier highlighted how Ethereum’s co-founder, Vitalik Buterin, spoke on how hard Ethereum 2.0 “was to implement from a technical perspective than he had envisaged.
“I definitely, freely admit that Ethereum 2.0 is much harder than we expected to implement from a technical perspective.”
Why it’s happening;
Vitalik Buterin said in addition to these short-term concerns, a rollup-centric roadmap could also imply a re-envisioning of Ethereum 2.0 long-term future; as a single high-security execution shard that everyone processes, plus a scalable data availability layer.
To see why this is the case, consider the following;
- Today, Ethereum has ~15 TPS.
- If everyone moves to rollups, we will soon have ~3000 TPS.
- Once phase 1 comes along, and rollups move to eth2 sharded chains for their data storage, we go up to a theoretical max of ~100000 TPS.
- Eventually, phase 2 will come along, bringing eth2 sharded chains with native computations, which give us… ~1000-5000 TPS.