Vitalik Buterin, one of the co-founders of Ethereum, has announced that the network’s layer 2 roll-up solution could explode by 100 times in the coming months.
Buterin announced in a recent Tim Ferris podcast where he addressed scaling issues of the second largest crypto asset by market cap that have become a hot topic within and beyond the network’s community.
When answering a question about scalability raised by Naval Ravikant, Buterin stated that
Rollups are powerful because they can support not just payments. They can support the full generality of applications, exactly the same applications that you can run directly on the Ethereum blockchain itself. But if you do those things inside of a rollup, they become 100 times cheaper.
Sharding Vs. Rollups
Buterin shed light on sharding which was integrated to layer one of ETH’s network. With the release of Ethereum 2.0, sharding will be a possibility that will directly improve the blockchain’s ability to scale. Layer 2 solutions to be found in the soon-to-be-released Roll-ups are loved by crypto enthusiasts and Buterin believes combining the two will escalate the network a hundredfold.
Concerns Over Ethereum’s High Fees
Most crypto enthusiasts are shocked at how expensive it is to transact Ethereum because of its high gas fees. Microtransactions on the network aren’t viable, and this has crippled the viability of the asset. As the DeFi system continues to explode, there’s hope that Ethereum 2.0 will help address this major concern and enable the realization of its full potential.