Some days ago, a massive upgrade took place on the Ethereum network named Istanbul. The upgrade was a hard fork that improved the network in numerous ways and it helped to implement a second layer scaling solution promising about 3,000 transactions per second, while likewise clinging to their roots by the maintenance of decentralization and privacy.

The co-founder of Ethereum, Vitalik Buterin, commented on Twitter as follow:

Account abstraction, first-class smart contract wallets

Casper proof of stake

Resource-efficient light clients

Optimistic rollup, 3000+ TPS post-Istanbul

Non-interactive ZKPs for privacy and scalability

Your staking will be rewarded

Much more TPS post-sharding — vitalik.eth (@VitalikButerin) November 19, 2019

The Ethereum Foundation offered a grant to Matter Labs this year to assist their work on a second-layer scaling solution.

Great efforts have been in place by the team on the ZK Sync development. However, it is an undependable scaling and privacy solution that particularly aims at the experience of user and developer.

According to the founder of Matter Labs, Alex Gluchowski:

“A successful solution to the scaling problem in public blockchains is not only a matter of high transaction throughput. It must also be defined as the ability of the system to meet the demands of millions of users without sacrificing decentralization. The prerequisites of mass crypto adoption include high speed, low cost, smooth UX, and privacy.”

A report by CryptoDaily noted that the success recorded for the Ethereum Istanbul hard fork update has been followed by announcements of official support for the upgrade from many renowned platforms.

One of such platforms that showed its support for the hard fork is Binance. Likewise, Coinbase announced its support in a tweet:

Ethereum Mainnet has been successfully upgraded. We have re-enabled send/receives to/from Coinbase and Coinbase Pro for ETH and all ERC20 assets. Thank you for your patience. — Coinbase (@coinbase) December 8, 2019

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