At the EthCC event, Ethereum's scaling plan known as the Gigagas Era was introduced, aiming to achieve speeds of one gigagas per second.
Announcement of Ethereum's New Roadmap
Justin Drake's presentation revealed a new roadmap for Ethereum focused on scaling through the Gigagas Era. The primary goal is to reach one gigagas per second using zkVMs.
Scaling via zkVMs
Drake noted that the key to the Gigagas era will be zkVMs and real-time proving capabilities. He stated, "I have conviction that we will enter a gigagas era for the L1. Specifically, I mean one gigagas per second, which, if you have transactions that consume 100,000 gas on average, that's roughly 10,000 TPS."
Financial Implications and Market Impact
Increased throughput is expected to lower transaction costs and enhance utility for Layer 2 solutions. This could lead to restructuring Ethereum's market dynamics, though specific funding channels remain undisclosed. Successful execution of the roadmap could bolster Ethereum's global standing.
Thus, the Gigagas Era promises to transform Ethereum's operational dynamics, increasing its efficiency and reducing transaction costs, while expanding opportunities for Ethereum-linked projects.
