One way cryptocurrencies can replace traditional payment methods and fiat currencies as a means of trade is to introduce improved methods of scalability. In this regard, Ethereum has been doing a lot of work lately in development.
How optimistic rollups can affect Ethereum scalability
Kevin Ho in his recent podcast on Blockcrunch gave his view on Ethereum’s scalability and how optimistic rollups can affect its present state. Kevin sighted out the key factors that would enable optimistic rollups to cause an impact in Ethereum’s scalability. He said:
The major shifts in optimistic rollups are like combining the realized limitations and complexity to support this out-of-chain information together with the ability to support smart contracts of general solidity. However, It’s not really a limiting factor to place all data in chains.
Kevin also pointed out that optimistic rollups would take place on Ethereum’s network and also reduce the cost of a transaction. He pointed these out following debates regarding how Ethereum’s scalability can bring about interest.
Ethereum scalability remains an issue
One could very well imagine a world where Ethereum is the first layer and Optimistic rollup as the second layer. State channels and plasma evidently stand as a third layer just above optimistic Rollups.
What one can do is filter all the creative contracts you feel you need to use and interact with. However, if you want to get even lower transaction fees for specific use cases, like sending lots of transactions, then you can open up a channel or you can join Plasma.
As per data gotten from Etherscan, there has been a slight decrease in Ethereum’s network utilization compared to last year. According to the recently published adoption report, the scalability of Ethereum remains an issue and the implementation of Ethereum 2.0 is meant to put this issue to rest.
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