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Ethereum reaches 9.000 transactions per second

2020.06.17

The startup concluded that the improvement occurred because of the implementation of the hard fork Istanbul. This will allow the Ethereum network to process 9,000 transactions per second (tps) with a 75 gas/trade in contrast to the 2,000 tps with 300 gas/trade registered by the blockchain in its pre-Istanbul stage.

The increased scalability of the Ethereum network is related to the implementation of Sharding and Plasma. These enhancements will multiply the scalability of the network when Ethereum completes its transition to Proof of Stake.

Ethereum co-founder Vitalik Buterin in an AMA session with OmiseGO what Sharding and Plasma do in the Etherem network. Sharding is a first layer scalability solution that uses microchains to validate different transactions on the Ethereum blockchain. Thus, it is not necessary for all nodes in the blockchain to verify the transactions, but a group of nodes can do it independently.

Sharding in combination with Plasma will be able to increase the scalability of the network by, according to Buterin, one million transactions per second. In comparison Visa and Mastercard, two of the largest credit card companies, can handle about 2000 tps and PayPal handles 200 TPS. StarWare’s measures put Ethereum well ahead of these large payment processing companies.

In addition, the startup announced that one of its products StarkEx will be introduced to the mainnet shortly. The product will be integrated with the platform of the DeversiFi cryptoexchange to take advantage of the scalability benefits described above.

Although the implementation of the Istanbul update was successfully completed, the subsequent process has encountered obstacles. After its activation, the Ethereum Difficulty Bomb was activated earlier than expected and it was necessary to implement a new Hard Fork called Muir Glacier.

Author : Reynaldo