2022-05-25 03:30:01

ETH 2.0: Is the PoS Transition Going to Boost Ethereum’s Transaction Throughput?

Launched in 2015, the Ethereum network has gained massive adoption and value in the past seven years. At the moment, this coin remains the second-largest by market cap. However, a few years after the launch, ETH’s slow transaction speed became a severe problem. Ethereum has a transaction throughput of fewer than 15 transactions every second but has millions of active network users. The low transaction throughput in Ethereum has been more noticeable, especially as the network continues to grow. When the DeFi space came, transactions became harder and took longer to complete. Later joined NFTs, and the traffic around Dapps continued to make problems even bigger in the network. Ethereum effectively became a very slow blockchain, and gas charges soared. ETH 2.0 Brings High Throughput Considering that Ethereum is the second-largest crypto and the most prominent host of decentralized applications, this 15tps is too low. To solve the problem, Ethereum announced the coming of ETH 2.0. One of the benefits of the beacon chain is massive transactions per second. In fact, according to reports, this Ethereum L1 chain will be able to support at least 100 thousand transactions every second. So, how is this high TPS going to be achieved? Sharding on Database Level ETH 2.0 will introduce a sharding feature to the blockchain level to achieve the high TPS. Sharding refers to breaking down the entire database into smaller parts that can operate i...

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