During his speech at the Ethereum Community Conference (EthCC) in Paris, Ethereum co-founder Vitalik Buterin said that when the Ethereum Merge is complete, the network will be able to handle one hundred thousand transactions per second.
Describing the move from a Proof-of-Work to a Proof-of-Stake consensus system as a long and complicated transition, he explained that Ethereum will be 55% complete, having undergone a four-part update called “surge, verge, purge, and splurge” that will make it more decentralized and secure.
This is an upgrade from its current state, where Ethereum processes transactions at a rate of 12 to 25 TPS with an average confirmation time of around six minutes.
The upcoming Merge, which is due to take place in September, will significantly improve transaction speeds through the use of Layer 2 solutions like Polygon, decreasing gas fees by making Ethereum up to 90% more scarce. It will also consume a lot less energy, and produce less pollution.
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