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Ethereum Throughput to Rise by over 5000X After the Merge – crypto.news

Ethereum 2.0 Will Be Highly ScalableDuring the Ethereum Community Conference (EthCC) in Paris, France, Vitalik exuded confidence that the final Ethereum 2.0 version, powered by a proof of stake consensus mechanism, will be far more scalable than the current proof-of-work network.
At optimum, Ethereum currently processes at most 20 transactions per second, causing a bottleneck and forcing miners to hike processing fees.
Comparing Ethereum with Bitcoin, Vitalik said the smart contracting platform is at 40 percent complete.
In the next phase scheduled after the Merge from 2023, dubbed “The Surge”, Ethereum will implement on-chain scaling through Sharding.
In the last phase, “The Splurge”, developers will carry out miscellaneous and minor upgrades primarily for optimization, ensuring that the Ethereum 2.0 functions as designed after all the four stage main upgrades have been made.

Disclaimer: This story is auto-aggregated & summarized by a computer program and has not been created by TokenAround.

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