Uri Kolodny, the co-founder and CEO of StarkWare, said that Starknet’s latest Quantum Leap upgrade makes high TPS a reality on the Ethereum mainnet.
NEWS
The much-anticipated Quantum Leap upgrade by layer-2 scaling protocol Starknet was recently deployed on the Ethereum mainnet, allowing for as much as 90 transactions per second (TPS), boosting the network’s speed.
In an announcement sent to Cointelegraph, Uri Kolodny, the co-founder and CEO of StarkWare, said it’s a momentous day for the Ethereum blockchain, as the scaling ceiling has been “smashed.“ He explained that “high TPS is finally a reality on Ethereum mainnet” because of the new update, adding:
“We said this upgrade would deliver potential TPS of hundreds within Q3, and only hoped from the stress test to check we’re on target. A few dozen TPS at this early point would have left us excited – but we got more than we bargained for.”
Kolodny also highlighted that it managed to achieve a consistent 37 TPS. In addition, the executive also noted that during its peak moments, the tests showed that the transfer transactions per second almost hit 100.
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On July 5, Starknet’s Quantum Leap was deployed in a testnet, recording speeds of up to triple figures. At the time of the testnet deployment, the team announced it was expecting the “time to inclusion” to be around 15 seconds. This means decentralized applications (DApps) can confirm on-chain transactions in seconds, but the reality exceeded expectations.
“We were aiming for latency of under 15 seconds, and in the end the vast majority of transactions had a time-to-inclusion of under 10 seconds,” he explained. According to the Starknet team, more throughput and faster inclusion would pave the way for faster DeFi applications. This also means that AAA-rated games will become more realistic within the network.
Eli Ben-Sasson, StarkWare co-founder and president, told Cointelegraph that this means the community is basically being given a “supercharged power tool.” With this, they will suddenly be able to build things that weren’t possible until now.
The executive also highlighted the short-term and long-term effects of the new development. “Almost overnight, it will make DeFi faster and less clunky, and make on-chain gaming far more seamless. Long term, it will lead to new and creative projects that will transform how we interact with technology and each other,” he explained.