Vitalik Buterin Boasts Ethereum Network will do 100,000 Transaction per Second

Vitalik Buterin, co-founder of the Ethereum blockchain, claimed “Ethereum will be able to process 100,000 transactions per second” at the end of this road map, in a presentation he gave at Ethereum Community Conference (EthCC) in Paris, Thursday. 

Buterin spoke about Ethereum’s upcoming “Merge,” which will transition the network from the energy-intensive proof-of-work (PoW) consensus to a proof-of-stake (PoS) consensus, reducing energy consumption by an estimated 99.95%. 

Buterin noted that once the transition scheduled for September of this year is complete, developers will be able to build an Ethereum client that does not know the proof-of-work phase ever existed. In addition to the Merge, their road map includes the “Surge,” which aims to increase scalability for rollups through sharding. 

The Canadian programmer added that the overall network’s development will be “55% complete once we finish the Merge.” That means that Buterin and developers will have their hands full, even after the Merge is finalized. He also boasted about Ethereum's future compared to Bitcoin’s.  

“The difference between Bitcoin and Ethereum is that Bitcoiners consider Bitcoin to be 80% complete, but Ethereans consider Ethereum to be 40% complete,” Buterin said. 

Buterin created a lot of buzz around the highly anticipated Merge. Irina Karagyaur, Head of Ecosystem Growth & BD at Unique Network, showed via Twitter how empty the seats were after the Ethereum co-founder left. 

Despite the speech from Buterin, Ether is currently down 5.76% in the last 24 hours, currently trading at $1,508, according to Bitpush Terminal data. However, Ether shot up big last week from $1,200 to $1,600, partially due to the Merge’s completion date of September 19 being announced. 

Author: Tyler Irvin

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