Can Ethereum handle 1 million transactions per second?

pranazzs

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Quote from: vuithoinha on June 03, 2018, 11:07:37 PM

According to some information I know :
-Bitcoin Transactions per second : 7
-ETH Transactions per second : 20
-EOS Transactions per second : 3000
-ADA Transactions per second : 257
-NEO Transactions per second : 1000
-NEM Transactions per second : 4000

How about this news https://dailyhodl.com/2018/06/03/vitalik-buterin-its-feasible-ethereum-will-process-millions-of-transactions-per-second/.
it looks like Ethereum will be able to transact 100 seconds or more.

“The reason I think layer ones and layer twos are complimentary is because ultimately, if you look at the math, the scalability gains from layer one improvements and layer two improvements do ultimately multiply up with each other. If you have a sharding solution, then the sharding solution by itself might increase the scalability of Ethereum by a factor of 100, or eventually even more.

But then, if you do plasma on top of a scalability solution, then what that means is that you’re not doing 100 times the amount of activity but you are doing 100 times the amount of entrances, 100 times the amount of exits, 100 times the amount of the speed resolutions, and all of that also improves the number of users the system can handle, the number of disputes the system can handle, and ultimately the maximum safe capacity that the layer two system can handle by a factor of 100 as well. So if we get 100x from sharding and 100x from plasma, those two together basically give you a 10,000x scalability gain, which basically does mean that blockchains will be powerful enough to handle most applications people are trying to do with them.”

thecodebear

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Quote from: vuithoinha on June 03, 2018, 11:07:37 PM

According to some information I know :
-Bitcoin Transactions per second : 7
-ETH Transactions per second : 20
-EOS Transactions per second : 3000
-ADA Transactions per second : 257
-NEO Transactions per second : 1000
-NEM Transactions per second : 4000

And all those high numbered ones are centralized (or they will be if they were ever to go anywhere near their capacity), because thats the trade off, its decentralized and secure with low throughput or centralized and therefore giving away many benefits of the blockchain for high throughput.

vuithoinha

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According to some information I know :
-Bitcoin Transactions per second : 7
-ETH Transactions per second : 20
-EOS Transactions per second : 3000
-ADA Transactions per second : 257
-NEO Transactions per second : 1000
-NEM Transactions per second : 4000

batang_bitcoin

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Unless proven then it's possible. We know how Vitalik Butterin wants to make his creation success and this sharding thing has been on his mind.

I won't believe it unless he do it for real and make that possible. That will be a hell fast transactions if ethereum network will able to handle 1 million transactions /second.

jlanzago

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Cryptomooniac - to the moon and beyond...

No, and probably they won't in the near future. The most successful new generation blockchains do promise to do 200,000 transactions per second, and this is just a promise to be seen, not a reality right now. Ethereum at its current stage is much slower and needs to evolve and find an scalability solution. Maybe in the future, but I don't think 1 million TPS is really needed.

thecodebear

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Quote from: ir.hn on June 03, 2018, 11:05:53 AM

Quote from: thecodebear on June 03, 2018, 10:32:21 AM

I assume you are referring to the article yesterday that quoted Buterin as saying it will handle that much.

He is saying that the various scaling methods multiply on each other so that will allow Ethereum to go from like <10 tx/sec to a million. He only mentioned plasma and sharding, but I believe the three main scaling techs are sharding, plasma, and raiden. Sharding splits the network to basically run many smaller Ethereum chains in parallel. Plasma I believe is child chains. And Raiden is basically the LN for Ethereum. If all three of those scaling techs work, they each only need to scale Ethereum by about 50x to get ETH to 1 million tx/sc. That is assuming they are all compatible, like you use Raiden Network on top of a plasma side chain that is itself off of a shard. Assuming these all work together and that they are all actually secure, then yeah I think 1 million tx/s will be possible.

wow sounds like a clusterf*ck of centralization upon centralization lol. It's centralization all the way down...

not sure why you say that. None of that is centralization.

It does sound like a clusterf*ck of complication upon complication for sure, but not centralization. Side chains, layer 2, and sharding are all decentralized.

ir.hn

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Consensus is Constitution

Quote from: thecodebear on June 03, 2018, 10:32:21 AM

I assume you are referring to the article yesterday that quoted Buterin as saying it will handle that much.

He is saying that the various scaling methods multiply on each other so that will allow Ethereum to go from like <10 tx/sec to a million. He only mentioned plasma and sharding, but I believe the three main scaling techs are sharding, plasma, and raiden. Sharding splits the network to basically run many smaller Ethereum chains in parallel. Plasma I believe is child chains. And Raiden is basically the LN for Ethereum. If all three of those scaling techs work, they each only need to scale Ethereum by about 50x to get ETH to 1 million tx/sc. That is assuming they are all compatible, like you use Raiden Network on top of a plasma side chain that is itself off of a shard. Assuming these all work together and that they are all actually secure, then yeah I think 1 million tx/s will be possible.

wow sounds like a clusterf*ck of centralization upon centralization lol. It's centralization all the way down...

thecodebear

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Activity: 2240

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I assume you are referring to the article yesterday that quoted Buterin as saying it will handle that much.

He is saying that the various scaling methods multiply on each other so that will allow Ethereum to go from like <10 tx/sec to a million. He only mentioned plasma and sharding, but I believe the three main scaling techs are sharding, plasma, and raiden. Sharding splits the network to basically run many smaller Ethereum chains in parallel. Plasma I believe is child chains. And Raiden is basically the LN for Ethereum. If all three of those scaling techs work, they each only need to scale Ethereum by about 50x to get ETH to 1 million tx/sc. That is assuming they are all compatible, like you use Raiden Network on top of a plasma side chain that is itself off of a shard. Assuming these all work together and that they are all actually secure, then yeah I think 1 million tx/s will be possible.

xeomthanhpho

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Can Ethereum handle 1 million transactions per second? really??

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