The project to create a faster, cheaper and more scalable version of Ethereum hit an important milestone this week, marking the beginning of the end of a long-delayed and increasingly necessary project to build a better blockchain.
The Ethereum 2.0 project will boost the transactions per second (TPS) capability of the top blockchain for both centralized and decentralized finance, or DeFI, projects — as well as gaming, non-fungible tokens (NFTs), metaverses and pretty much everything else — from its current 12 to 15 TPS limit to 100,000 TPS, developers claim. It will also end its environmental problems.
See also: Ethereum 2.0 Will Not Be Any Faster, Vitalik Buterin Said. But It Will Still Scale Massively
The March 15 launch of the Klin testnet marks the last “test” blockchain before the Ethereum 2.0 Merge that shifts transactions of Ethereum from its current Bitcoin-style proof-of-work consensus mechanism to the newer proof-of-stake (PoS) that competing “Ethereum-killer” blockchain like Polkadot, Cosmos and Solana have been using to steal developers and projects.
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