Joe Lubin Claims Ethereum Can Handle Millions of Transactions Per Second
- Justin Drake announced a potential redesign of Ethereum's consensus layer to tackle scalability challenges.
- Speculation about an ETH 3.0 upgrade surfaced, suggesting the introduction of new technologies such as zkEVM.
- Experts believe these developments may enable Ethereum to process millions of transactions per second.
On November 11, 2024, Ethereum researcher Justin Drake hinted at an ambitious initiative for scaling the blockchain's performance, sparking speculation about an ETH 3.0 upgrade. The initiative potentially involves redesigning the Ethereum consensus layer and may be revealed at Devcon in Bangkok, which takes place shortly after Drake's announcement. Following this, rumors suggested a significant update could introduce a second merge targeting 1-second block times and the implementation of a zero-knowledge Ethereum Virtual Machine (zkEVM). Consensys CEO Joe Lubin discussed revisiting execution sharding techniques, emphasizing the necessity for identifying optimal methods to process transactions more efficiently. He stated that these advancements might result in significantly increased transaction throughput for Ethereum in the coming years.