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Jorge Schnura
@schnura
What do you think the TPS capacity of Ethereum should be for it to accommodate all the world's payments, financial system, social media, gaming and rest of Web 2 use cases @vitalik.eth ? I always read comparisons to Lisa's TPS, but that is shortsighted IMO
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xh3b4sd ↑
@xh3b4sd.eth
I think the quality of our questions determines the quality of knowledge that we can acquire. And I think the above is not a good question, because it is a counterfactual like the observer effect. What we are building here with Ethereum enables new economies that will be vastly different than whatever we are doing today in the sense of "transactions". By recent estimates I think Google makes about 100 thousand requests per second, while Facebook does about 1 billion. We will need a million TPS across a unified Ethereum, and then we will fill that blockspace too. We will build stuff that we cannot imagine today using global consensus, zero knowledge and machine learning technologies. Imagine 1000 L2s with 1000 TPS each. That is a million TPS right there. In the grand scheme of things. That does not sounds like a lot to me if we talk decades from now. And then imagine being bearish ETH with that kind of understanding.
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Jorge Schnura
@schnura
That's not how L2s work, they're still bottlenecked by the capacity of their L1. You can read Vitalik's latest post for more on that. It's obvious that we'll need magnitudes more than what is needed for Web 2 since this is an enabler of new use cases, but my point was not that. My point is that when the community talks about bringing the (current) world on-chain, they always use Visa as an example in terms of TPS, which is only a small piece of the puzzle. With the answer to my question we'll have reached a minimum acceptable scale and that's when we need to start thinking about scaling to the full potential of what the technology enables.
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