Ethereum: How many other transactions per second will be possible with segwit?
The Ethereum community is eagerly waiting for the upcoming implementation of a segregated witness (Segwit), improvement of scalability aimed at increasing the speed of network transactions. But how many more transactions per second can we expect to be processed with segwit?
What is Segwit?
Segwit is a change in the Ethereum protocol, which allows for larger blocks, which in turn allows for faster transaction processing time. The idea of Segwit is to increase the network capacity by enabling more information on storage on each block, reducing the number of transactions needed to complete one operation.
How does Segwit work?
To implement Segwit, Ethereum developers will have to update the Ethereum virtual machine (EVM) to operate larger blocks. This includes a change in EVM architecture in order to adapt a larger number of data in each block, as well as changing the pipelines for transaction processing to process increased size.
Can we expect an increase in the speed of the transaction?
Theoretically yes. In the case of Segwit, Ethereum programmers can potentially increase the number of transactions per second on the web, allowing you to store more data in each block. However, this will depend on various factors, such as the EVM improvement project and the implementation of Segwit at Ethereum Mainnet.
How many more transactions per second can you expect?
The exact number is difficult to predict, but based on current trends and assessment of an industry expert, here are some possible scenarios:
* short-term: 10-20% increase in transaction rate
+ This can be translated into an additional 100,000 to 200,000 transactions per second to Mainet.
* Middle January: 50-75% Increase in the transaction index
+ Implementation and achievement may last for several months or more, depending on the complexity of the EVM update and the test process.
* Long-term: 100-150% increase in transaction speed
+ This is an ambitious goal, but it is possible that the EVM update will be successful and the network can be effectively reduced.
Is the answer to the linear number 1 with a block size?
Unfortunately not directly. Although larger blocks of flats are useful to increase the speed of the transaction, there will always be restrictions by the factor, such as:
* Network overload: Increase in the size of the block increases directional costs, which may reduce the total network performance.
* Transaction complexity: as the number of transactions increases, thus increasing the computer load on the network.
* Gas costs: larger blocks require more gas for processing, which can lead to larger transactions.
Application
Ethereum developers are eagerly awaiting the implementation of Segwit, and with it a potential increase in the speed of the transaction. Although we can expect some short -term benefits, such as an additional 100,000 to 200,000 transactions per second on Mainet, the actual impact will depend on different factors.
To sum up, with the appropriate design and implementation, Ethereum developers can be able to increase the transaction speed by 10-20% from Segwit. However, scaling of this improvement in a potential short-term increase or 100-150% will require careful consideration of various technical and logistics factors in an average time.
Sources:
- Ethereum.org (SEGWITE update proposal)
- Coindesk.com (ethereum scalabiness)
- Cryptoslate.com (News and Analysis Ethereum)
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