ETH 2.0 will be able to process around 100,000 transactions per second

Transaction speeds at this level will be a major improvement from the current Ethereum network. ETH 1.0 can only handle around 15-20 transactions per second. Implementing such a massive improvement would leave positive impacts not just for trading. Additionally, it would also benefit all projects that utilize the Ethereum network, including NFTs and nodes.

How is such a change possible? ETH 2.0 is planning to accomplish this with the introduction of sharding. Specifically, sharding is a process of dividing the Ethereum network into multiple parts, or shards. Each shard will have its own blockchain and will be able to process transactions in parallel. At its core, the introduction of sharding means that ETH 2.0 will be able to store data much more efficiently.

Importantly, this change is likely to help further improve the scalability of ETH 2.0. It could also help attract crypto investors who are looking to help make up for losses incurred throughout the early half of 2022.

Ethereum releases its roadmap for future upgrades and scalability

The team behind Ethereum continues to release new plans for updates. It also hopes to improve the network as a whole. The roadmap for the coming years can be seen here, where the changes go well into 2023 and 2024.

A move to the consensus layer could prove to be a major step forward for the Ethereum network. It provides a way for projects linked with Ethereum to expand its usability and thrive throughout the bear market. Also, with improved scalability and performance, ETH 2.0 has laid down a strong foundation for a successful launch in the near future.

Save your investments with the latest knowledge and tools

In the midst of the bear market that has presented itself in 2022, Ethereum has taken the steps needed to address how it will continue to grow and advance in the years to come. This will happen through its laundry list of upgrades and network transformations.

Investors are likely already preparing for the major update as it could lead to long-term impacts on major blockchain investments. The bear market currently leaves many worried. But, with pioneers and innovators like those behind Ethereum and other projects, crypto markets will likely see an eventual return to a much needed bull market.

Investments are still facing the potential to make serious gains or losses in 2022. It’s vital to learn the latest news and reports from passionate blockchain advocates. Cryptonairz is a free online community that is dedicated to helping people learn about and invest in the blockchain space. Joining the Cryptonairz Community allows you to get in touch with a passionate community of people concerned about the future of cryptocurrency.