Vitalik Buterin, co-founder of Ethereum, stated that he has one more solution to improve ETH’s scalability. According to him, the high demand for non-fungible tokens (NFTs) is causing a lot of network congestion. As a consequence, rates are skyrocketing.
As a proposal, Buterin proposed a solution that consists of migrating NFTs to second layers of Ethereum, as rollups.
More precisely, his proposal is to develop an interoperability system that allows NFTs to be used in multiple rollaups.
The proposal was recently posted by Buterin on the Ethereum Research forum, dedicated to researching improvements to the general-purpose blockchain.
The developer suggests creating “packaged NFTs” that could be mobilized and traded between the different rollups in Ethereum.
Rollups are second-tier solutions that merge multiple transactions into one. Therefore, they allow the user to process a greater number of transactions per second (TPS) outside the ETH core network.
For example, zkSync 2.0 rollups, which are currently in the testing phase, promise to process up to 20,000 TPS. Meanwhile, mainnet only processes 12-20 TPS in its current state.
As mentioned, the main point of Buterin’s proposal is the non-dependence on a single rollup. Although they offer reduced commissions, using just one can be dangerous. After all, in case of failure, the NFTs would be stuck.
Using multiple rollups avoids this dependency model. Furthermore, in case of failure, through the proposed system, arrested NFTs could be migrated to another rullup or to the main jail.
The proposal of the creator of Ethereum is based on the creation of WNFT (WNFT). These, in a practical sense, would be tokens that represent other tokens in the rollup.
In this case, the original WNFT would be stored directly in the Ethereum blockchain through a smart contract that would serve as a safety vault.
Read also: SushiSwap token platform loses R$ 15 million in hacker attack
Also read: Algorand, Polygon and two more altcoins ready to go up, analyst points out
Also read: Supposed GAS pyramid says it will stop payments until the court unblocks goods