Ethereum 2.0 vs Visa: Blockchain Throughput to Increase 1,000-fold

On October 31, Vitalik Buterin spoke at the DevCoin Conference currently running in Prague. The key news is that the blockchain throughput will increase 1,000-fold. The Serenity upgrade, also known...

On October 31, Vitalik Buterin spoke at the DevCoin Conference currently running in Prague. The key news is that the blockchain throughput will increase 1,000-fold. The Serenity upgrade, also known as Ethereum 2.0, will make the net speedier, safer, less power-intensive and capable to throughput thousands transactions per second.

According to Buterin, it is precisely Serenity that should become a world computer.

Во время выступления Виталик рассказал об извилистом пути к модернизации сети. Из-за множества проблем разработчикам приходится откладывать запуск обновления. Среди этих проблем: печально известный взлом DAO, приведший к расколу сети.

Vitalik spoke about the winding way to network modernisation. Due to multiple challenges the developers have to postpone the upgrade launch. Among such problems is the notorious DAO hack that led to the network sharding.

The road to Proof-of-Stake started in 2014, but Ethereum continues to use Proof-of-Work as a consensus algorithm and mechanism for transaction validation.

Thanks to Serenity, Ethereum will finally transition to the Proof-of-Stake algorithm. This year the developers have discarded the semi-hybrid consensus algorithm they worked on lately and have restarted on a more challenging way.

Read also: Will the Ethereum be «great again»? Ethereum cryptocurrency forecast: technical and fundamental analysis