Ethereum Scalability Solution is Coming ‘Soon,’ says Vitalik Buterin

Vitalik Buterin. Source: a video screenshot.

Ethereum (ETH) has a plan to fix its well-known scaling issue, and co-founder Vitalik Buterin says the solutions will start rolling out soon.

In an interview with BLOCKTV this week, he said that scaling, a major Ethereum problem that’s been pointed out many times, is something the team will be dealing with in the short term. There’s already a lot of progress accomplished in this area, “the spec there is almost done,” and “it’s mostly an implementation challenge now,” he claims.

What Ethereum team seems particularly excited about is another scaling research that Buterin says is making progress and is coming soon: Rollups.

Buterin explains in simple terms that a Rollup is a scaling technique that keeps transaction data on-chain, in a compressed form, but the computation is pushed off-chain. Instead of verifying computation, such as signature verification, contract execution, zero-knowledge (ZK) proof execution, etc., directly on-chain, it’s verified either in:

  • a zk-SNARK, whereby a person runs the computations, generates the proof, others verify it – called ZK-Rollup;
  • a fraud-proof scheme, whereby sequencers publish what they think the results of the computation are, and the verification will be done on-chain only if people disagree – called Optimistic Rollup.

Both of these are “amazing” techniques, Buterin claims, adding that he expects them to make “a huge difference over the next year or so.” For example, Loopring recently launched a ZK-Rollup exchange, which can theoretically accomplish 2,500 transactions per second (TPS) if all Ethereum users were to become their users. Furthermore, Optimism and Arbitrum are two teams he names as making major progress in the area of Optimistic Rollups. These are not just scaling payments, he says, but are “scaling something that is equivalent to the Ethereum virtual machine.”

A lot of “quiet work” has been happening in the past month, he adds, in making zero-knowledge…

Source Link