Co‑founder Ethereum Vitalik Buterin expects noticeable improvements in network parameters sooner than most expect. He said this during the AMA-сессии on Reddit, where he outlined his view of the network’s prospects over the next two years after the transition to ETH2.
“The merger of ETH1 and ETH2, Proof-of-Stake, enticing 100,000 TPS — all of this will happen faster. I expect updates in ETH2 to be faster and more orderly than in ETH1.”
According to Buterin, users can already use Rollups technology, which can provide up to 4,000 TPS. In addition, transactions in this case can be up to 100 times cheaper than on the mainnet.
What is Ethereum 2.0?
The co-founder did not overlook the situation around ETH2 deposits. As of now, the balance of the deposit contract is rising more slowly than needed. This raises concerns that by December 1, the mainnet launch date of ETH2, users may not have time to deposit the required 524,288 ETH.
Public skepticism is partly due to the inability to withdraw deposited assets before ETH2 moves into the first phase.
“In a scenario where ETH2 does not advance beyond the zero phase, there is certainly always a possibility to hard fork to add withdrawal support from the deposit contract so that stakers can retrieve their assets”, — he added.
Buterin also touched on the issue of maximum issuance of Eth2, calling this moment “in a sense unpopular, but important”.
“The issuance schedule is ~4.7 million per year for the next one-to-two years or longer until the merge. Going forward — 0-2 million per year minus burned rewards for sending transactions (they could theoretically exceed issuance at certain stages) after the final transition to Proof-of-Stake”, — he explained.
Earlier, Vitalik Buterin spoke about the advantages of participating in early ETH2 staking.
On 18 November, Dubai-based investment firm IBC Group transferred $10 million to the Ethereum 2.0 deposit contract.
In September, cybersecurity expert Chase Wright expressed doubts about taking part in staking after the launch of the zero phase ETH2.
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