The co-founder of Ethereum, Vitalik Buterin, is in the latest news surrounding the cryptocurrency. More specifically, Buterin revealed his plans to scale the Ethereum network and with that accommodate a nearly 3,200% increase in the transactions without the use of second-layer technologies such as Plasma.
Buterin wrote a post on an ETH research forum which was published on Saturday. In it, the co-founder of ETH said that the altcoin can borrow a technological innovation from the privacy-centric cryptocurrency Zcash to “mass-validate” ETH transactions.
The technology is named ZK-SNARKS, allows relaying nodes to “verify the correctness of computations without having to execute them” or “learn what was executed,” according to the post published on the Ethereum Foundation blog.
As Buterin wrote:
“There are two classes of user: (i) transactor, and (ii) relayer. A relayer takes a set of operations from transactors, and combines them all into a transaction and makes a ZK-SNARK to prove the validity, and publishes the ZK-SNARK and the transaction data in a highly compressed form to the blockchain. A relayer gets rewarded for this by transaction fees from transactors.”
According to Vitalik Buterin, the integration and adoption of the ZK-SNARKS technology could allow Ethereum to process a maximum of around 500 transactions per second, from the current 15. This is not only a 3,200% increase but also a massive improvement from Plasma and other second-layer scaling solutions that increase the network capacity.
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