LOGO_CRYPTO_SIGHT

Scalability of ETH Will Increase 1,000 Times in 2 Years, said Joseph Lubin

By Chris Torres | May 14, 2019
thecryptosight-scalability-of-eth-will-increase-1000-times-in-2-years-said-joseph-lubin
Scalability of ETH Will Increase 1,000 Times in 2 Years, said Joseph Lubin

The scalability of Ethereum (ETH) blockchain will increase 1,000 times in the next 2 years, said ETH co-founder Joseph Lubin.

In an interview, Lubin stated that Ethereum 2.0, also known as Serenity, will benefit the cryptosphere ecosystem by enhancing its scalability.

The founder mentioned the connection between the new chain to the previous one. He said there are multiple connection methods to connect two chains with each other, with tokens can be transferred from the old to the new one.

“In a small number of months, we should have a fully operational testnet and possibly, by the end of this year we’ll have a fully operational phase 0 Ethereum 2.0.” Lubin stated, opened up about the phases of the development.

The concern of Lubin lies on the proof-of-stake (PoS) mechanism of the new chain. Before stepping into the implementation phase, the team has to conduct research and testing thoroughly to ensure its viability. News features are coming to make the chain compatible with different use cases, i.e. citing private transactions.

Reported by The Crypto Sight last week, ETH was purportedly half-way through the first phase of ETH 2.0, as a live testnet of the iteration is underway. Hence, a wire protocol dubbed Hobbits has been introduced to initially assist ETH 2.0 clients testing the network.

Earlier, Ethereum token creator Vitalik Buterin is reportedly considering more rewards for validators who participate in securing the functionality of Ethereum 2.0.

 

Tags: , , ,

Comments