Ethereum Shanghai upgrade, explained – Cryptonium


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Ethereum Shanghai upgrade, explained

The Ethereum network is constantly evolving and improving, and the recent Shanghai upgrade is no exception. This upgrade brings some significant changes to the network that will improve its scalability, security, privacy and more.

One of the most important aspects of this update was an increase in transaction throughput. The new version of Ethereum can now process up to 15 transactions per second (TPS), which means it’s now much faster than before. This should make using applications on top of Ethereum much smoother for users as they won’t have to wait long times for their transactions or smart contracts to be executed on-chain.

In addition to increased TPS speed, another major improvement with this upgrade comes from a focus on greater decentralization within the system itself by implementing sharding technology into its structure – allowing multiple chains running simultaneously in parallel with one another but still connected together under one umbrella protocol known as “shards” . As a result, not only does it provide better scalability but also prevents any single point failure from taking down entire networks or causing disruption due too high load demands being placed upon them at once – making sure that everyone has access regardless if there are large numbers accessing all at once!

Another great feature included within Shanghai was support for zk-SNARKS – zero knowledge proofs used by developers when building out private financial products such as stablecoins which require extra layers of encryption between parties involved so data remains confidential throughout every step taken during execution phase without compromising overall security integrity either side would need assurance about what’s happening each step along way! With these upgrades combined together we can expect even more innovation coming soon from projects built atop ETH platform thanks improved capabilities offered through these updates alone!

Cryptonium Editors