Can Ethereum hit 3,000 transactions per second? Vitalik Buterin thinks so

• Ethereum users are looking forward to the Casper proof of stake upgrade, among other vital developments.
• The Istanbul upgrade is scheduled for early December and could see Ethereum hit 3,000 TPS.

The co-founder of the most extensive decentralized applications and smart contract platform in the world, Vitalik Buterin, in a recent tweet said that Ethereum would achieve 3,000 transactions per second (TPS) following the Istanbul upgrade. In the tweet, Buterin shared a series of upcoming updates, including Casper proof of stake, and account abstraction.

The Istanbul upgrade on the Ethereum network is set to take place early next month. The founder has also made changes to a list of problems that he believes are challenging for the cryptocurrency industry. The list was first released in 2014 while the new changes range from the “ongoing work on post-quantum cryptography, anti-collusion infrastructure, homomorphic encryption, and multi-party computation and decentralized governance.” He adds:

“In general, base-layer problems are slowly but surely decreasing, but application-layer problems are only just getting started.”

On the other hand, Ethereum is trading at $145 after correcting from a high around $147. Ethereum is forced to deal with a strong bearish trend amid the expanding volatility.