Ethereum ( ETH), as we aim to solve the scaling problem in their upcoming updates, what awaits emerging Tier-2 projects?
The MergeAnd shapellaEthereum, which has successfully completed its updates, Dencunstarted focusing on the update. Dencun aims to solve the scalability issue with the EIP 4844 upgrade. On the other hand, what will be the fate of the emerging Ethereum scaling projects?
Ethereum’s Scaling Problem
Approximately With a market value of $250 billionsecond largest cryptocurrency Ethereumfocused on scalability.
Ethereum ( ETH), continues its structuring processes with The Merge and Shanghai updates. Mergewith the update PoSstructured Ethereum, shapellabecame thoroughly deflationary with the update.
Ethereum, from bitcoin It later became one of the most popular cryptocurrencies that marked the crypto industry. Network activities and memecoins in particular have taken Ethereum to a different level. However Ethereum , has not escaped criticism for slow transactions and high transaction fees. After all these processes, performing powerful updates Ethereumaims to solve the scaling issue as well.
Ethereum’s attempt to solve the scaling problem, Layer-2Will he be able to influence his projects?
Emerging Ethereum Scaling Projects
Almost every period, many cryptocurrencies emerge with the definition of Ethereum scaling project. The most popular of these projects polygonWhile Aptos and Optimism is also not on the agenda. The common point of all these projects was to settle in Ethereum’s Layer-2 network and to reveal low cost and high performance.
In particular, Polygon, with the zkEVM update, has breathed new life into the scaling of Ethereum. polygon, Transactions it receives over Layer-2, Ethereumplans to realize it in its network quickly and at low cost.
Among the crypto projects that have gained popularity recently, there are many Ethereum scaling platforms. polygon, aptos, Arbitrum, OptimismAnd starknet Many projects, such as, offer innovative solutions. All these projects aim to reveal a more efficient and cheaper blockchain independent of Ethereum. However polygon, recently for the development of Ethereum has come a long way.
It will scale Ethereum Layer-2 most of his projects appeared in 2021. These projects, which distribute their networks, still embody additional trust assumptions.
Making Ethereum More Efficient
the MergeEthereum ( ETH ), will try to reveal the low cost and fast network status in its next updates. In particular, Ethereum co-founder Vitalik Buterin stated that scalability is critical in future updates.
Buterin said that if they can’t fix the scaling issue, Ethereum’s transaction fees will be lowered in the next bull run. up to 500 dollarsHe said he could rise. Buterine, Cancunthat the so-called update will focus on this issue. underlined.
Ethereum has peaked its network activity, especially in these times of memecoin rush. The increase in network activity strengthens the deflationary nature of Ethereum. However, on the other hand, it is observed that transaction fees on the network have risen to serious levels. Therefore, the need for scaling solutions has become quite high. Layer-2networks, therefore, began to gain popularity.
EthereumTotal locked asset status of approx. around $9.3 billion . In order to solve the scaling problem of the project, which has a large ecosystem, EIP 4844It is said that it will enter a busy working period with the update.
Danksharding The definition of crypto as stated is that Ethereum is a truly scalable blockchain network. However, Ethereum has a long way to go to get to this point. EIP 4844hosting the update Cancunforking, Will create Proto-Dansharding . This definition EthereumIt will be an important step towards full scalability.
DankshardingAnd Proto-Danksharding plans to make operations in Layer-2 as efficient as possible. Therefore, the Ethereum of updates is 1 per second. Requires scaling to more than 00,000 computes.
with full scalability Danksharding There is talk of a few more years. Proto- Danshardingwill appear in the near future.
Scalability Post by Vitalik Buterin
Ethereumco-founder Vitalic Buterine, in a live broadcast he participated, shapellaHe said that with the update, developers will focus on scalability.
Buterine, the next hard fork, which is stated to take place in early 2024, is also called proto-danksharding. EIP-4844 Confirmed that it will cover . The creator of Ethereum, this update 10x greater scalabilitybelieves it will.
Popular name in the crypto market Buterine, polygonAnd Matter Labs‘of zkEVM‘s and the growth of Arbitrum and Optimism. Buterineunderlined the progress made by the Tier-2 projects in 12 months.
What Awaits Tier-2 Projects?
Ethereum‘s search for a solution to the scalability problem, Layer-2 also invigorates its projects. Vitalik, the architect of Ethereum ButerineAs said by Layer-2projects are of critical importance in the development of Ethereum.
Tier-2 projects built with zero-knowledge (zk) technology make Ethereum cheaper and more efficient. What will happen on Ethereum Cancun update will enable EIP 4844 to enter the market. This could make the second largest cryptocurrency more efficient. In such a case, it can be expected that Tier-2 projects will multiply further and zk technology will become even more popular. However, Tier-2 projects seem to focus more on zk technology rather than scaling Ethereum. Because EthereumIf it becomes a scalable blockchain, it may not need outside support.
Again Ethereumand Tier-2 projects promise a lot of hope for the future.
