Ethereum can speed up by running nearly 65% of its transactions in parallel, Sei says

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As a seasoned crypto investor with a knack for staying abreast of the latest developments, this recent revelation about Ethereum‘s potential to process more transactions concurrently has piqued my interest. Having witnessed the network’s growth from its humble beginnings, I can’t help but feel a sense of excitement at the prospect of it becoming even more efficient and scalable.

According to recent research findings, Ethereum might process more transactions at once and operate quicker, improving its overall speed.

A recent study indicates that approximately two out of three Ethereum transactions might be able to occur concurrently, which could significantly increase the network’s processing speed. In a blog post published last Friday, experts from layer-1 network Sei (SEI) explained that numerous Ethereum transactions don’t rely on each other and can thus be executed simultaneously, increasing the number of transactions the network can handle and boosting its efficiency.

Currently, as a researcher delving into Ethereum’s mechanics, I find that it employs sequential transaction processing – a method where transactions are executed one following another. To illustrate this, consider a scenario where an individual transfers 1 ETH to someone else, and soon after, the recipient sends the same amount to another person. In this case, these transactions must occur in succession.

If both transactions were to occur simultaneously, there’d be an issue since the balance wouldn’t have been updated for the first one yet. However, as Sei’s research suggests, not all transactions interact with each other.

According to Sei’s analysts, when Bob transfers 1 ETH to Alice and another individual simultaneously sends 1 ETH to you, these transactions can occur concurrently without interfering with each other. Essentially, this means that both transactions can be processed simultaneously.

The research revealed that approximately two out of three Ethereum transactions can be executed concurrently, implying no need to wait for previous ones to complete. Employing this approach would potentially allow Ethereum to handle a larger number of transactions, thereby increasing its speed.

On average, each block contains approximately 60.77 transactions that could be processed concurrently, pointing towards substantial opportunities for parallel processing optimization.

Sei

Yet, it’s important to note that there are remaining obstacles. Some transactions must be completed sequentially due to their interdependence, a concept referred to as dependency. As per Sei’s calculations, approximately 35.15% of transactions on Ethereum depend on others.

One approach to enhancing Ethereum’s speed involves a technique known as “optimistic concurrency control.” This concept is employed by the Sei protocol and allows multiple transactions to occur simultaneously under the assumption that they will not conflict with each other.

Once all transactions are completed, the system verifies if any discrepancies occurred. If an issue arises, the system has the capability to re-execute those transactions. By adopting this method, Ethereum can expedite transaction processing while maintaining a user-friendly environment for developers. Furthermore, Ethereum may adopt sharding in the future, which involves dividing the network into smaller segments to facilitate faster transaction processing. Sei agrees with this potential development.

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2024-12-27 12:44