What is the problem with ETH?

Ethereum's current transaction capacity stands at approximately 15-30 transactions per second. This figure, while adequate in the early days of the network, is becoming increasingly inadequate as Ethereum's popularity continues to soar. The growing number of users and transactions on the network is putting a strain on its ability to process them in a timely manner.

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The scalability issue is a major concern for Ethereum as it strives to meet the growing demand for transactions. With more and more people using Ethereum for various applications, the network is struggling to keep up with the ever-increasing load. This has led to delays in transaction processing and a decline in overall user experience.

One of the main reasons for Ethereum's scalability problem is its underlying technology. The network's current proof-of-work consensus mechanism is resource-intensive and slow, making it difficult to scale efficiently. As a result, Ethereum is working on transitioning to a proof-of-stake consensus mechanism, which promises to be more scalable and energy-efficient.

In addition to the consensus mechanism, Ethereum is also exploring other solutions to its scalability problem. These include layer 2 scaling solutions, which involve building additional layers on top of the Ethereum blockchain to handle more transactions without compromising security. These solutions aim to increase transaction throughput while maintaining the decentralized nature of the network.