Ethereum(ETH) To Process 100,000 Transactions Per Second

July 23, 2022 at 03:02 PM GST updated: July 23, 2022 at 06:55 PM 2 mins read Ethereum News

Vitalik Buterin updates the ETH roadmap with surge and purge.
Ethereum on 2.0 and will be scaling to 100k transactions per second after merge.
The development roadmap is only halfway complete.

After the merge, the Ethereum network founder Vitalik Buterin stated that a lot more updates were on the way. If the merge hasn’t caused enough hype in the market, then the Ethereum network will undergo Surge, Verge, Purge, and Splurge as part of its ongoing development roadmap.

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In a recent tweet by Watcher.Guru, Vitalin Buterin, has stated that the Ethereum network will be able to carry out 100,000 transactions per second (TPS) after it implements all the necessary changes. This update comes as a part of the ETH 2.0 roadmap, which is currently halfway done.

Vitalik Buterin claims #Ethereum will be able to potentially process 100,000 transactions per second at the end of its roadmap.
— Watcher.Guru (@WatcherGuru) July 21, 2022

This upgrade stage will have numerous benefits for the network users as it would allow for a much higher TPS rate. However, the main aim of this upgrade is to help the network become more scalable so that it can be used by a larger number of people.

.@VitalikButerin claims that #Ethereum will be able to to process "100,000 transactions per second", following the completion of 5 key phases:

• The Merge
• The Surge
• The Verge
• The Purge
• The Splurge

A quick breakdown of what each stage means for $ETH. 👇 pic.twitter.com/FnaWww8mHZ
— Miles Deutscher (@milesdeutscher) July 22, 2022

Vitalik claims that on the completion of the 5 major phases which are Merge, Surge, Verge, Purge, and Splurge. The Ether network transition will be from a proof-of-work (PoW) network to a fully proof-of-stake (PoS) network, and hence the transaction will be done in an easy process.

Currently, the transaction in the Ethereum network is done at a transaction rate of 12 to 25 TPS, with an average confirmation time of around six minutes. However, after the successful implementation of all these changes, the average confirmation time will drop to around 20 seconds with a transaction rate of 100,000 TPS.

This would put Ethereum on par with some of the major credit card companies in terms of transaction processing. The altcoin Ethereum(ETH) is burning 1,559 ETH daily as it heads to its other big goal-staking ETH.

According to crypto researcher and analyst Lark Davis, the next big project on the ETH network is the merge. Ethereum has become more popular due to the rise of the use of cryptocurrency and blockchain technology.

Now that #ethereum has 1559 burning ETH every day, our next big milestone is The Merge!

This will move ETH to proof of stake, this will happen within the next 6 to 9 months. It will be a HUGE upgrade for ETH.
— Lark Davis (@TheCryptoLark) August 9, 2021

The main aim of the Ethereum network is to provide a decentralized platform that runs smart contracts and allows for the creation of decentralized applications (dApps).