Ethereum rollups will boost network scalability, says Buterin
Ethereum co-founder believes rollups would solve the network’s congestion problems and speed up transactions on the blockchain. The Ethereum blockchain has always suffered from scalability, but Vitalik Buterin believes rollups are the solution to this problem.
Ethereum rollups will solve network scalability
Vitalik Buterin appeared on the Tim Ferris show earlier this week. In the podcast interview, the Ethereum co-founder talked about a wide range of issues regarding the Ethereum blockchain and its native cryptocurrency, Ether.During the interview, Buterin said that Ethereum rollups are the solution to the network’s congestion problems. He talked about a layer 2 solution that could increase Ethereum’s processing capacity by 100x.
“Layer 1 scaling basically says, well, let’s make the blockchain itself better. And the layer 2 scaling says, well, let’s come up with protocols that sit on top of the blockchain and that use the blockchain in more clever ways to provide the same kinds of security guarantees that a blockchain has, but that provide a much more scalability because you’re not just kind of doubly sticking like literally everything and doing everything on a blockchain directly,” Buterin said.
According to Buterin, the rollup solution creates sidechains for processing and storage. The results are then batched back onto the Ethereum main network. He added that the solution was developed by a company called Optimism, and the beta testing process should be completed in a month. Another L2 solution is StarWake.
Buterin added that by the time the Ethereum network grows, and the capacity is more than the rollup solution can provide, the blockchain’s sharding mechanism would be ready. Despite a few network upgrades coming in recent months, Vitalik didn’t disclose when the rollup solutions would be integrated into the Ethereum blockchain.
Ethereum has become integral to the cryptocurrency ecosystem. Its blockchain hosts a wide range of decentralized apps, NFTs, decentralized financial platforms, smart contracts, and more. Furthermore, several crypto tokens are hosted on the Ethereum network. Hence, its success is important to the general crypto market.
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