V. Buterin: "Rollups Is The Short-Term Solution To High Gas Fees"

V. Buterin: "Rollups Is The Short-Term Solution To High Gas Fees"

By MakeItReal | MakeItReal | 12 Mar 2021


Hello HODLers! 

Did you listen the Vitalik Buterin speech on the Tim Ferris Show podcast? If not, I'll quickly summarize the most relevant elements. 

The most important statements by Buterin concerned the possible solutions to the problem of high gas fees on the Ethereum blockchain. In this regard, Vitalik Buterin announced that Rollups could be the solution to Ethereum's current scaling issues, at least until the introduction of sharding technology in Ethereum 2.0. Sharding is considered the most promising solution to Ethereum's scalability problems, but it will only be reality with the definitive transition to Ethereum 2.0.

Meanwhile, short-term solutions are needed and Rollups is the solution Vitalik Buterin is currently working on.

Rollups is a Layer 2 method of aggregating transactions inside smart contracts that aims to reduce gas price and the network's congestion, increasing the efficiency from the current 15 TPS to more than 1,000 TPS. 

Vitalik Buterin announced that the release of Rollups will happen "very soon", but did not specify any date.

 

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