According to the latest announcement by Vitalik Buterin, Ethereum (ETH) could soon see the transaction processing capacities increase dramatically – all thanks to the so-called ‘sharding’. The news comes from Buterin’s Twitter account (which can be seen below).
Sharding is coming.https://t.co/Aqo9MBiCj0 pic.twitter.com/FXEQeiKGDr
— vitalik.eth (@VitalikButerin) April 30, 2018
Vitalik Buterin, who is the founder of Ethereum, also revealed a proof of concept for the technology on Reddit (as well as a couple of Twitter posts) – suggesting his “bag of ideas” for implementation and how “well established” they are.
Meanwhile, the best way to describe sharding is as a method where the number of transactions that a blockchain can handle increases. The process is designed to be used ‘on-chain’ which means that multiple network computers divide the transaction workload between them so that more can occur within the same period of time.
The time that it takes to process these ‘shard’ blocks would be around 10 seconds, according to Buterin. As he stated on Twitter:
“I would not say the spec is finalized at this point, though the ‘bag of ideas’ is IMO pretty well-established. The latest research consists of combining together existing ideas about scaling and latency (ie. block time) reduction.”
Buterin even added that “the overriding principle is maximally close to equivalent properties to a single chain”. According to him, the Ethereum developers already sought ways of providing on-chain scaling improvements for some time and with that becoming direct competitors to fiat payment processors such as VISA.
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