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2020-06-03 09:57

Ethereum Upgrade Has Succeeded

Ethereum co-founder Vitalik Buterin said that the blockchain’s layer-two scaling initial deployment has “basically” succeeded. In a June 1 tweet, Buterin claimed that most of the initial work on Ethereum’s second-level scalability solutions is nearly complete. Buterin linked to a tweet by Ethereum researcher Philippe Castonguay who listed a number of relevant developments and second-layer Ethereum scalability solutions that have recently launched.

Buterin said that Ethereum second-layer scalability solutions are near-ready and their use is mostly limited to payments and decentralized exchanges. He suggested that second-layer scalability solutions should be used for token transfers and decentralized exchanges — as they make up a significant portion of transactions on the Ethereum network.