fbpx
  • Price Tracker
  • Guest Post
  • Advertising & Partnership
  • Press Release
  • Editorial Policy
Coin Culture
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Business
    • Policy & Regulation
    • Tech
    • People
  • Markets
    • Forecast
      • Ethereum Price Predictions
      • Bitcoin Price Predictions
  • 101 Guide
    • Blockchain Guide
    • Trading Guide
    • Bitcoin Guide
    • DeFi Guide
    • Ethereum Guide
  • Product Reviews
    • Crypto Exchange Reviews
      • CoinSpot Review
      • Swyftx Review
      • Binance Australia Review
      • MEXC Review
      • BitMart Exchange Review
      • Bybit Australia Review
      • CoinSpot Mastercard Review
    • Exchange Comparisons
      • CoinSpot vs Swyftx vs Binance
      • Coinspot vs Binance
      • Crypto.com vs. Binance
      • CoinSpot vs Kraken
      • Swyftx vs Coinbase
  • Contact
    • About Us
    • Submit Press Release
    • Submit Querry
    • Submit Guest Post
  • Crypto Wiki
No Result
View All Result
Coin Culture
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Business
    • Policy & Regulation
    • Tech
    • People
  • Markets
    • Forecast
      • Ethereum Price Predictions
      • Bitcoin Price Predictions
  • 101 Guide
    • Blockchain Guide
    • Trading Guide
    • Bitcoin Guide
    • DeFi Guide
    • Ethereum Guide
  • Product Reviews
    • Crypto Exchange Reviews
      • CoinSpot Review
      • Swyftx Review
      • Binance Australia Review
      • MEXC Review
      • BitMart Exchange Review
      • Bybit Australia Review
      • CoinSpot Mastercard Review
    • Exchange Comparisons
      • CoinSpot vs Swyftx vs Binance
      • Coinspot vs Binance
      • Crypto.com vs. Binance
      • CoinSpot vs Kraken
      • Swyftx vs Coinbase
  • Contact
    • About Us
    • Submit Press Release
    • Submit Querry
    • Submit Guest Post
  • Crypto Wiki
No Result
View All Result
Coin Culture Logo
No Result
View All Result

Home » Ethereum could improve scalability before sharding with a new proposal

Ethereum could improve scalability before sharding with a new proposal

Lucas N by Lucas N
July 1, 2022
in Tech
Hand is turning a dice and changes the direction of an arrow symbolizing that the value of the crypto currency Ethereum (ETH) is going up/ down
Share on FacebookShare on Twitter

You might also like

Ethereum EIP 7742 added to Pectra Upgrade

TON Struck by Network Outage: No New Blocks for Over 3 Hours

Mac Users Alerted to New ‘Cthulhu Stealer’ Malware Targeting Crypto Wallets

Ethereum founder Vitalik Buterin announced that improved scalability to Ethereum may come before a full sharding solution.

Ethereum to face a scaling quick fix?

“If you are new to crypto and try to use Ethereum, you’re gonna have a bad time.” 

This more or less sums up the sentiment around Ethereum’s persistent scaling problems. After the implementation of EIP-1559 did nothing to improve matters – some say the situation has actually become worse – Ethereum is desperately looking for solutions to high gas fees. Things have become so bad that protocols are launching with airdrops based on a user’s gas fee history. 

A recent tweet by Vitalik Buterin hinted at a possible stopgap solution before Ethereum’s sharding architecture is rolled out. Buterin said that “blob-carrying transactions” could improve rollup scalability, as they allow rollups to scale to up to 2 MB per slot. At the same time, a fee market would allow rates to remain low during times of limited utilisation. 

Buterin has praised rollups as the only viable short and medium-term solution to the network’s woes. Fees on L2 chains like Optimism and Arbitrum are three to eight times lower than on Ethereum, with ZK-rollups being 40 to 100 times cheaper. It’s a small wonder that solutions like Starknet cannot come early enough for Ethereum.

How Ethereum could integrate a short-term with a long-term solution

Put simply, the “blob-carrying transactions” mentioned by Buterin would use a sharding technology without sharding the entire network. An adequate metaphor would be regulating traffic on a congested highway with means like traffic lights before new lanes have been built.

With the delay of Ethereum 2.0 after the Glacier Update, the network has bought itself a bit more time to execute a long-term scaling solution. JP Morgan analysts expect the last phase of scaling to not come before 2023, meaning users would have to put up with prohibitively high network fees for at least another year. Tim Beiko, an Ethereum developer, recently stressed in an Ethereum note the need to work on solutions with greater urgency. 

Blob-carrying transactions may be one such option for Ethereum. Its TVL share across all layer-one chains has fallen dramatically over the past 12 months – from a virtual monopoly on total value locked to about 65%, as upcoming blockchains like Avalanche and Terra have eaten away at its market share. Ethereum may, in fact, not be too unhappy about a bear market since that would likely make investors more cautious and slow down some of the impressive growth that alternative layer-ones have enjoyed thanks to VC money pouring in.

Still, one thing has become blatantly clear over the past 12 months: Ethereum has become a victim of its own success, and the narrative has firmly shifted towards “Can the network make the next step?” As such, taking a bit of pressure off the much-anticipated ETH2.0 launch – with a technological solution, but also in terms of investor sentiment – could turn out to be a smart decision. 

The ball is in Ethereum’s hands, but the next play has to be a good one.

Tags: EthereumTech
Lucas N

Lucas N

Lucas N is Coin Culture's managing editor for people and market, covering opinon, interview and market analysis. He owns Near, Aurora and Chainlink

Recommended For You

Ethereum EIP 7742 added to Pectra Upgrade

by John Hobbs
October 18, 2024
0
Ethereum EIP 7742 added to Pectra Upgrade

Ethereum has just released a new update for Ethereum Pectra. Vice President of Galaxy Christine Kim stated that the development team addressed the upgrade during their 144th All...

Read more

TON Struck by Network Outage: No New Blocks for Over 3 Hours

by John Hobbs
August 29, 2024
0
TON Struck by Network Outage: No New Blocks for Over 3 Hours

The Open Network (TON) has halted transaction validation and hasn't produced any new blocks for more than three hours. On August 28, Tonk Inu, a TON-based community platform,...

Read more

Mac Users Alerted to New ‘Cthulhu Stealer’ Malware Targeting Crypto Wallets

by John Hobbs
August 27, 2024
0
Mac Users Alerted to New 'Cthulhu Stealer' Malware Targeting Crypto Wallets

Apple Mac users are being alerted to a new malware threat called "Cthulhu Stealer" that steals personal information and targets cryptocurrency wallets. “For years, there has been a...

Read more

Ethereum’s Dencun Upgrade Spurs Surge in L2 Bot Activity and Transaction Failures: Galaxy Research

by John Hobbs
August 24, 2024
0
Ethereum's Dencun Upgrade Spurs Surge in L2 Bot Activity and Transaction Failures: Galaxy Research

The Ethereum Dencun upgrade in March inadvertently led to an increase in transaction failures across layer-2 (L2) networks, Galaxy Research says.  Christine Kim, a Galaxy researcher, highlighted this...

Read more

Starknet-Based ZKX Protocol Closes Due to Low User Engagement

by John Hobbs
August 1, 2024
0
Starknet-Based ZKX Protocol Closes Due to Low User Engagement

The ZKX Protocol, a social derivatives trading platform built on the Ethereum Layer-2 network Starknet, has closed down due to insufficient user engagement. Founder Eduard Jubany Tur announced...

Read more
Next Post
iphone apps zoomed in on Twitch app

Top 7 Crypto Streamers on Twitch

Please login to join discussion

Most popular

  • Why Brands Should Adopt A ‘Hybrid DAO’ Model

    Why Brands Should Adopt A ‘Hybrid DAO’ Model

    184 shares
    Share 74 Tweet 46
  • Kucoin Review 2024: Features, Fees & More

    156 shares
    Share 62 Tweet 39
  • Coinbase vs Binance: A Side-By-Side Comparison 2023

    270 shares
    Share 108 Tweet 68
  • 20 Best Crypto Copy Trading Platforms: A Curated List 2024

    672 shares
    Share 269 Tweet 168
  • 11 Best Crypto Debit Cards In Australia: A Curated List 2024

    428 shares
    Share 171 Tweet 107

Recommended

Ethereum Foundation Reveals $788 Million in Crypto Holdings, Mostly in Ether, Amid Transparency Push

Ethereum Foundation Reveals $788 Million in Crypto Holdings, Mostly in Ether, Amid Transparency Push

November 9, 2024
Solana Surpasses Binance Coin (BNB) as Fourth-Largest Cryptocurrency

Solana Surpasses Binance Coin (BNB) as Fourth-Largest Cryptocurrency

November 8, 2024
Trump Declares Victory - What will the US Crypto be?

Trump Declares Victory – What will the US Crypto be?

November 6, 2024
Kraken Introduces Crypto Derivatives Suite for Australian Wholesale Clients

Kraken Introduces Crypto Derivatives Suite for Australian Wholesale Clients

November 5, 2024
coin culture logo

Your Australian news source for all things cryptocurrency. Coin Culture is an independent media outlet that aims to provide an Aussie take on crypto, digital assets, and investing.

Hot Topics

  • DeFi
  • NFT
  • Gaming

Top articles

CoinSpot Review
Swyftx Review
Best Crypto Exchanges Australia
CoinSpot vs Swyftx

BROWSE BY TAG

Altcoin News Bitcoin CoinSpot Cryptocurrencies Crypto Exchange Crypto Tax DeFi Dogecoin Dogecoin News ETF Ethereum Feature FED FTX Games hacks Layer2 Markets meme Metaverse Mining NFT Opinion People Policy and Regulation Polygon SEC Security Solana News Stablecoins Tech Top Crypto News Australia | CoinCulture Trading US web3 XRP News

RECENT POSTS

  • Ethereum Foundation Reveals $788 Million in Crypto Holdings, Mostly in Ether, Amid Transparency Push
  • Solana Surpasses Binance Coin (BNB) as Fourth-Largest Cryptocurrency
  • Trump Declares Victory – What will the US Crypto be?

© 2023 CoinCulture. All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Please enter and activate your license key for Cryptocurrency Widgets PRO plugin for unrestricted and full access of all premium features.
  • bitcoinBitcoin(BTC)$106,724.00-0.89%
    BITCOIN
    24H : -0.89%
    Volume : $34,952,206,432.00
    Marketcap : $2,120,770,085,941.00
  • ethereumEthereum(ETH)$2,647.33-0.29%
    ETHEREUM
    24H : -0.29%
    Volume : $26,571,607,904.00
    Marketcap : $319,506,813,353.00
  • tetherTether(USDT)$1.000-0.01%
    TETHER
    24H : -0.01%
    Volume : $62,744,336,266.00
    Marketcap : $153,030,778,993.00
  • rippleXRP(XRP)$2.280.850%
    XRP
    24H : 0.850%
    Volume : $2,174,027,822.00
    Marketcap : $133,731,464,953.00
  • binancecoinBNB(BNB)$679.16-1.05%
    BNB
    24H : -1.05%
    Volume : $883,604,090.00
    Marketcap : $99,081,221,627.00
  • solanaSolana(SOL)$168.53-1.67%
    SOLANA
    24H : -1.67%
    Volume : $3,658,847,345.00
    Marketcap : $87,725,429,318.00
  • usd-coinUSDC(USDC)$1.0000.00%
    USDC
    24H : 0.00%
    Volume : $8,738,971,427.00
    Marketcap : $61,238,778,737.00
  • dogecoinDogecoin(DOGE)$0.219-0.43%
    DOGECOIN
    24H : -0.43%
    Volume : $1,340,925,782.00
    Marketcap : $32,797,138,384.00
  • cardanoCardano(ADA)$0.735-1.75%
    CARDANO
    24H : -1.75%
    Volume : $622,759,101.00
    Marketcap : $26,524,567,593.00
  • tronTRON(TRX)$0.2760.280%
    TRON
    24H : 0.280%
    Volume : $623,507,343.00
    Marketcap : $26,212,441,264.00

Add New Playlist

No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Business
    • Policy & Regulation
    • Tech
    • People
  • Markets
    • Forecast
      • Ethereum Price Predictions
      • Bitcoin Price Predictions
  • 101 Guide
    • Blockchain Guide
    • Trading Guide
    • Bitcoin Guide
    • DeFi Guide
    • Ethereum Guide
  • Product Reviews
    • Crypto Exchange Reviews
      • CoinSpot Review
      • Swyftx Review
      • Binance Australia Review
      • MEXC Review
      • BitMart Exchange Review
      • Bybit Australia Review
      • CoinSpot Mastercard Review
    • Exchange Comparisons
      • CoinSpot vs Swyftx vs Binance
      • Coinspot vs Binance
      • Crypto.com vs. Binance
      • CoinSpot vs Kraken
      • Swyftx vs Coinbase
  • Contact
    • About Us
    • Submit Press Release
    • Submit Querry
    • Submit Guest Post
  • Crypto Wiki

© 2023 CoinCulture. All rights reserved.