RATE Group | Researchers explore 17,000 transactions per second solution for Ethereum blockchain
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Researchers explore 17,000 transactions per second solution for Ethereum blockchain

08 Oct Researchers explore 17,000 transactions per second solution for Ethereum blockchain

Posted at 09:15h in Ethereum News by

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Could Ethereum’s transaction rate be heading to Visa levels?

by Manoj Sharma for CNR

Ethereum researchers Harry R, Yondon Fu, and Philippe Castonguay, Alex Gluchowski and Barry Whitehat have recently introduced a new initiative, an off-chain solution called Snark-based side chain. It might just be a crucial one, too. It will allow users to transfer tokens and ETH outside of the Ethereum mainnet, which means, before the release of a channel composed of thousands of transactions made between users on the Ethereum network, users can request withdrawals at the smart contract level.

Apparently, the solution could scale the network to 17,000 transactions per second, almost equivalent to the transaction capacity of Visa. And that would be a huge breakthrough for cryptocurrency and blockchain, with transactions per second a huge factor currently holding both back.

The researchers explain that “the operator is forced to process requests in the priority queue. Otherwise, they…

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