Vitalik Buterin, co-founder of Ethereum and writer of the network's whitepaper, said that Optimistic Rollups is the imminent solution to ensure the scalability of the Ethereum network in the near future, while developers continue working on building Ethereum 2.0.
During his participación in the podcast of the businessman and investor Tim Ferriss, the co-founder of Ethereum, Vitalik Buterin, assured that the scaling solution offered by Rollups will be enough to scale Ethereum “100 times,” and that they will arrive on the network very soon. As Buterin explained, the solution Optimistic Rollup, developed by the startup Optimism, will allow boosting the scalability of the blockchain from Ethereum. This layer 2 scaling solution built on Ethereum comes at a crucial time for the network, which is facing high commission fees, the product of increasing demand and a limited capacity to process transactions, which has resulted in a significant and almost unsustainable increase in gas costs.
Optimistic Rollup is Ethereum’s new scalability stack, the developer explains, which will allow the network to free itself from a large number of transactions to process, offering performance and low commission fees, compared to the main network. Buterin highlighted that layer 2 solutions like Optimistic are a smarter way to use the Ethereum blockchain, as it takes full advantage of its security potential but offers greater scalability and performance than the original protocol.
Likewise, the Ethereum co-founder pointed out that Rollups, which will help optimize the processing of transactions on the network, by compressing and grouping them into batches to confirm them in less time and at low cost, will be sufficient to guarantee greater usability of Ethereum and reduce Gas costs, while developers continue working on building Ethereum 2.0For Buterin, when the network demands greater scalability and Rollups are no longer enough, ETH 2.0 will have arrived.
It may interest you: Ethereum 2.0, almost $6 billion in staking and preparing for its first hard fork
From 1.000 to 4.000 TPS
While Ethereum 2.0 arrives, which will implement fragmentation or sharding To ensure high network throughput, Rollups will help Ethereum process 1.000 to 4.000 transactions per second (TPS), Buterin explained during Ferriss' podcast.
On the other hand, the network's co-founder also pointed out that this scaling solution could arrive sooner than expected. Thanks to a Series A investment round led by the company A16z (Andreessen Horowitz), the startup Optimistic managed to raise $25 million at the end of November last year, which is being used to accelerate the construction of the layer 2 solution.
In mid-January, the developer company of Optimistic held a “soft launch” or partial, of this scaling solution on the Ethereum Layer 2 mainnet. This way, developers can test each set of Optimistic features, within a controlled environment, before taking the next step.
In her Roadmap, the next planned level for this scaling solution was the launch of the public testnet, scheduled for this month, which would allow anyone to deploy and interact with the network. However, thanks to the funds raised in the Series A investment round, Optimistic developers were able to accelerate the construction of the scaling solution, with the help of “the brightest minds and smartest operators in space.” So now the launch and deployment of the arbitrary contract on mainnet is planned to happen this month, instead of just the testnet.
As a result of being able to hire such talent, we will be launching an arbitrary contract deployment on mainnet in March instead of public testnet!
Compatible with Ethereum EVM
Optimistic Rollups will run on OVM, a fully featured execution environment designed for layer 2 systems and is compatible with the Ethereum Virtual Machine, the Ethereum Virtual Machine (EVM). According to Buterin, fully Ethereum Virtual Machine compatible Rollups will be ready "in a month or so".
This scaling solution is needed today more than ever, due to the high demand that exists for the Ethereum network, driven by the sector DeFi and NFT, in addition to a series of other applications and new use cases that are being developed on the network.
Continue reading: Berlin, the next Ethereum upgrade, will hit mainnet on April 14
