Earlier this month, several of Ethereum’s core developers, including Vitalik Buterin himself, participated in an AMA on Reddit. Apparently, after five years of discussion, delays, and disappointment, the hotly anticipated ETH 2.0 upgrade could finally land as soon as July.
But don’t get too excited just yet. Developer Justin Drake was apparently “95% confident” that it would land this year. At least, phase 0 will (hopefully) land this year, with two more phases to follow after that. Meaning, the full implementation of ETH 2.0 could still be quite a few years away.
Anyone who’s been patiently waiting for a bigger, better and faster Ethereum can be forgiven for having doubts at this point. Of course, upgrading a platform on this scale is always going to be a marathon rather than a sprint. But for developers seeing their dApp throughput choked every time the network experiences high traffic, knowing a solution could be years away is of little comfort. Nearly six years since the genesis block, transaction speeds still lag at a measly 15 per second.Under Pressure
It’s becoming increasingly evident that the scalability issue is escalating. In September last year, Tether trades alone hogged 50% of total network traffic, leading to some users reporting that their transactions were taking hours or even days.
Crypto appears to be undergoing a prolonged bull run, there’ll be even more demand for Tether from the trading community, putting Ethereum under yet more pressure and pushing up gas fees to boot. There’s a real risk that developers will end up migrating to other platforms, even if it means leaving Ethereum’s diverse range of dApps behind.
Now, Syscoin has launched an interoperability bridge, introducing a realistic workaround to Ethereum’s scalability woes. The Syscoin Bridge enables devs to continue running their dApps on Ethereum, but at higher speed and with lower transaction costs than the network itself can manage.Intro...