ETH is certainly generating some excitement. The founder of ETH has stated that sharding is coming and he also went on to make a post on the social media site Reddit as well. This may sound like a very unpleasant term but it actually brings a lot of good news. Sharding is a very anticipated feature for the Ethereum network. ZIL have proposed solutions for it in the past and it has been known as the holy grail of technology for quite some time now. Posted along with the tweet was a link to GitHub. This showed up as being a Beacon Node and this shows that ETH have proof of concept. The image that went along with this also showed 12 shards in action.
One of the main concerns with Ethereum and other cryptocurrencies for that matter include the fact that it is unable to sustain scaling. More and more people are accepting ETH tokens and this ultimately means that the network is slowing down. It is also losing capacity as well. Some are worried that if this is not dealt with then ETH could shut down completely and it could also cause a ton of delays. This is scaring users away to say the least and it could even lead to people abandoning the currency as well.
Sharding helps to alleviate some of these growing pains and it also helps to solve a long-standing problem as well. This is going to mean that transactions can happen faster and there will also be much less network congregation as well. On top of this, ETH will also then have the chance to offer much cheaper fees. Buterin went on to say that the proof of concept and even the utilisation of sharding is going to have a huge impact on the future of ETH. He stated that the basic idea of sharding can actually be bolted or even layered on top of the ETH frame. He also revealed that sharding would then be combined with ETH’s own Casper Protocol. This is a mechanism that will allow ETH to offer Proof of Stake. At the time, ETH is running a simulation for around 12 different shards. This is all being done for the purpose of research and even demonstration as well to try and find out if it is a viable option. When it goes live, there could well be over 100 shards.
The main thing to take note of here is that ETH has lost a lot of value due to the SEC regulation. This is bullish to say the least. Sharding has been a long-awaited feature for Ethereum and when you look at how close they are to implementing it, it is likely that this will help to carry the price of ETH even higher.