V God: Ethereum will soon achieve 100x scalability, and the Optimism Rollup solution is expected to go live within a month

This article is from 8btc, authored by Kyle.

Ethereum co-founder Vitalik Buterin believes that the Ethereum network will soon achieve nearly 100 times its current scalability and predicts that the Optimism team will release its Layer 2 (L2) solution, Optimistic Rollup, in the coming weeks.

Buterin pointed out during a talk on the Tim Ferriss podcast that Eth2 developers are committed to merging with Ethereum and believe that L2 solutions can support network scalability before the development of sharding.

He added: "Rollup will be here soon. We are fully confident that when further scaling is needed, sharding will have been ready for a long time."

Rollup is a Layer 2 solution that processes and stores transaction data on designated sidechains before a batch of transactions is placed on the Ethereum mainnet. These solutions aim to alleviate the scalability issues currently faced by Ethereum, as fierce competition for bandwidth on the Ethereum mainnet has led to skyrocketing fees.

Although Eth2 will use sharding to ensure network scalability upon full launch, Buterin believes that Rollup is sufficient to meet mid-term needs—emphasizing that Rollup can increase Ethereum's transaction throughput by 100 times: "Remember, if you have Rollup but no sharding, you can still achieve 100 times network scalability, right? You can still have the blockchain completing 1,000 to 4,000 transactions per second, depending on the complexity of those transactions."

Buterin predicts that Optimism will launch its fully Ethereum Virtual Machine (EVM) compatible Rollup solution in "about a month," while he also highlighted that Arbitrum (another Rollup solution developed by an offchain team) has made significant progress in EVM-compatible Rollups.

Optimism's Rollup is expected to be adopted by some industry leaders in DeFi, with commentators speculating that Uniswap will leverage it in its upcoming major V3 upgrade. Aave and Synthetix are expected to be among the first projects to utilize this technology.

He added, "There are actually simpler Rollup solutions that can only handle simple transactions for asset swaps, such as Loopring and zkSync. These Rollups have been running stably for about a year. So, Rollup is no longer just theoretical. For nearly a year, they have become viable Ethereum scalability solutions used by a small number of users."

Last week, 8btc reported that Buterin proposed a system that allows smart contract protocols to directly communicate between different second-layer scaling solutions. For detailed reporting, please check: https://www.8btc.com/article/6604260

Article link: https://www.8btc.com/article/6607491