17 000 transactions per second in Ethereum promise a breakthrough in the scalability of cryptocurrencies

0

17 000 transactions per second in Ethereum promise a breakthrough in the scalability of cryptocurrencies

Researchers Ethereum Harry R., Yeongdong Fu, Philip Castonguay, Alex and the fantastic Barry Waythat recently introduced a new solution for scalability outside of the Ethereum blockchain — sidechained based on Snark. It will allow users to transfer tokens, and the air outside the network at speed of transactions to 17 000.

This speed can be compared with the figure Visa and promises the blockchain and cryptocurrency to a whole new level.

Recently, the Creator of Ethereum, Vitalik Buterin announced that the method of cryptography zk— SNARKs will allow the blockchain of the cryptocurrency to scale up to 500 transactions per second. It gives the opportunity to compress data in the so-called concise proof, which does not change size depending on the amount of input data.

Since scalability is one of the main problems of cryptocurrency, a solution based on the Snark for Ethereum could be a breakthrough for the entire industry.

Leave A Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.