Acne Buterin believes that the use of solutions from 1 and 2 levels will accelerate Ethereum to millions of transactions per second. Ethereum Creator Vitalik Buterin at the recent session of the OmiseGO AMA told about the decisions of the second level such as Sharding and Plasma.
According to him, the Ethereum network will eventually be able to handle 1 million transactions per second, and this value can potentially increase to 100 million by Leading the blockchain projects fighting for scalability In September 2017 Buterin said that bitcoin and Ethereum can handle 3 to 6 transactions per second.
At the same time that a major payment network (Visa, Internet of Things (IoT) and stock markets like Nasdaq) began to support cryptocurrency they need to handle hundreds of thousands transactions per second.
AT THE MOMENT BITCOIN MAKES ABOUT 3 TRANSACTIONS / SECOND, AND 4 IS HIS MAX, ETHEREUM, THE NUMBER OF TRANSACTIONS IN THE NORMAL STATE IS LOCATED AT LEVEL 4, A MAXIMUM OF ABOUT 6. FOR THE SECOND UBER HANDLES 12 TRAVEL, PAYPAL – A FEW HUNDRED TRANSACTIONS, VISA IS A FEW THOUSAND, AND THE STOCK EXCHANGE IS ABLE TO PROCESS TENS OF THOUSANDS OF TRANSACTIONS EVERY SECOND. said Buterin During OmiseGO AMA
Buterin made a statement, according to which, by optimising the decision of the second level will allow Ethereum to make millions of transactions every second, so even large decentralized applications can use the network without restrictions.
Sharding optimizes the existing network, saving her from having to handle each individual part of the transaction. Plasma works like a Lightning Network for bitcoin and Ethereum allows to process micropayments, creating a subsidiary of the blockchain network, thanks to which accelerates the processing and increases the security of the Protocol.
I BELIEVE THAT THE DECISIONS OF THE LEVEL 1 AND LEVEL 2 MUST WORK TOGETHER, AS COMPLEMENTARY. THE EXISTING BLOCKCHAIN WILL REMAIN THE SAME AS WAS, AND THE DECISIONS OF THE SECOND LEVEL, IMPROVE IT. FOR EXAMPLE, SHARDING BY OPTIMISING EXISTING PROCESSES ACCELERATE THE ETHEREUM NETWORK 100 TIMES, AND PLASMA DOES THE SAME THING WITH THE ALREADY ACCELERATED NETWORK. explained Buterin
Further, the founder of Ethereum explained that the synergy between the solutions 1 and 2 levels will increase the scalability of the network 10,000 times. Due to this, the Ethereum blockchain will be able to process millions of transactions every second. This opens up new opportunities for the integration of Ethereum in various decentralized applications and growth of the network as a whole.