Vitalik Buterin said that the Ethereum network will undergo a significant improvement in performance with the ETH 2.0 update.
With the transition from proof of operation (PoW) to proof of pledge (PoS), Ethereum 2.0 will improve the scalability and overall performance of the blockchain, says Buterin.
The co-founder of Etherium mentioned in a publication that the constructive implementation of ETH 2.0 will gradually allow the network to process 100,000 transactions per second. According to Buterin, second-tier solutions will speed up the network before upgrades are launched.
“ETH 2.0 data scaling will be available before scaling for general calculations. This suggests that [second layer solutions] will be the main scaling method for at least a few years: first ~ 2-3k TBC (transactions per second) with eth1 as the data layer, then ~ 100k TBC with eth2 (phase 1) . ”
The launch date of ETH 2.0 remains unclear for now. Initially, the release was supposed to be in January, but researchers postponed it.
ETH 2.0 will be released in phases. In May, ETH 2.0 test coordinator Afri Shoden said that based on current project progress, phase 0 is likely to occur at the end of the year or early next.