Modern Consensus.an hour ago

Published on November 20, 2023 23:36 GMT+00:00edited on November 20, 2023 23:39 GMT+00:00

As Ethereum passes the milestone of a quarter of a billion unique addresses, daily gas used has remained over 100 million for more than a year, the number of ENS names registered approaches 2.6 million and market cap once again flirts with $250 billion, its worth taking a step back to look at the numerous scaling solutions that are enabling this growth without also triggering the sky-high transaction fees the network has seen during several periods of high blockspace demand.

How Ethereum would scale was a key issue from the time the network’s launch in 2015, and by 2017 its inventor Vitalik Buterin was discussing its status in interviews, such as this one in Bitcoin Magazine where his pronouncement in 2014 that Bitcoin’s 5-cent transaction fees were “absurd” came back to haunt him (and...