Ethereum Will Eventually Achieve 1 Million Transactions Per Second

The co-founder of Ethereum, Vitalik Buterin, just made an exciting promise:

"With second-layer solutions such as Sharding and Plasma, the Ethereum network will eventually be able to process 1 million transactions per second and potentially more than 100 million transactions per second."

He said that the dApp platforms will solve their scalability issues. Specifically, Sharding and Plasma could give Ethereum the speed it needs. However, the road to glory is far from reach and it may need significant progress to compete with newer dApp platforms that could have an edge over competitors such as EOS, Cardano, NEO and Tron.

Currently, Ethereum has been doing five per second and if it goes above six, then it is also at peak capacity. Here's a quick look at where Ethereum is relative to the giants in the business:

• Ethereum 2017: 5 per second
• Uber: 12 rides per second
• Paypal: 100s per second
• Visa: 1000s per second
• Stock Exchanges: 10,000s per second
• IoT: 100,000s per second

If Ethereum does breach the million per second mark, that would be the day when Ether will take over the lead from bitcoin.

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