Ethereum creator Vitalik Buterin hinted at a powerful scaling solution that will allow the smart contract platform to work tolerably well until the completion of the ETH 2.0 update.
According to him, Rollups can be a solution to the current problems of scaling Ethereum, at least until the introduction of sharding technology in Ethereum 2.0. At the beginning of this year, the commission for transactions in the Ethereum network reached a record level and the debate about the scalability of the network does not subside. To date, the average cost of a transfer on the network is about $16 (last month it was $38) and this is a significant amount for both cryptocurrency transactions, which should be fast and cheap.
Sharding is positioned as the most promising solution to Ethereum’s scalability problems, but its launch is still a very long time away. The technique that breaks large amounts of data into smaller pieces was developed for ETH 2, which means that another solution needs to be found before the transition is completed.
One such solution is Rollups, which is a second-level method for aggregating transactions within smart contracts. The purpose of Rollups is to reduce fees and network congestion. Theoretically, the solution is able to increase the throughput of the platform from the current 15 transactions per second to more than 1000.
The concept was first described by Vitalik Buterin in 2014 and has two main approaches: ZK-Rollups and Optimistic Rollups (this solution is becoming an increasingly preferred choice among developers of DeFi applications and the Synthetix Exchange and Polygon projects are already implementing it).
Buterin noted that the Optimism team will soon introduce Rollups and in the medium term the solution will help the Ethereum blockchain to scale 100 times:
“If you have a Rollups solution, but there is no sharding, then you will still get 100x scaling. The blockchain will be able to increase the speed in the range from 1000 to 4000 transactions per second, depending on their complexity.”
Subscribe to the Crypto channel.Pro in Telegram – always the latest news and market overview