Vitalik Buterin: Ethereum Will Have Visa-Scale Transaction Capacity in 2 Years

Bitcoin, Ethereum and other high-profile cryptocurrencies are embroiled in debate these days, as companies and individuals seek other sources for transactions outside of simple fiat currency.

Ethereum, the Blockchain technology-based application platform, has gained increasing popularity with developers and individuals alike. The platform is being utilized especially heavily with the ICO boom that has occurred in recent months.

Buterin on the power of Ethereum

Vitalik Buterin, speaking at TechCrunch Disrupt 2017, indicated that the platform has the capacity to change much of what is known about data and security. His comments included a strong indication that Ethereum will have the transactional power to equal Visa in the next two years. Buterin said:

“Bitcoin is processing a bit less than three transactions per second. Ethereum is doing five a second. Uber gives 12 rides a second. It will take a couple of years for the Blockchain to replace Visa.” 

Gaming platforms

The Ethereum inventor also indicated that Blockchain technology will likely provide platforms for gaming and other data-intensive applications in the future, where security is an important aspect.

“You could run StarCraft on the Blockchain. Those kinds of things are possible. High level of security and scalability allows all these various other things to be built on top. Ethereum is a secure base layer that doesn’t have too many features.”

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