The Ethereum network now processes twice the transactions than bitcoin on a daily basis, as it settles more than 520,000 transactions per day on average.
Since the beginning of 2017, the Ethereum Foundation and the open-source development community of Ethereum have increasingly focused on developing innovative scaling solutions such as Plasma and sharding.
Several hard forks including the latest Byzantium hard fork were focused on increasing the capacity of the Ethereum blockchain network, to further scale the protocol for decentralized applications, users, and businesses. For instance, the Byzantium hard fork eliminated the root of the transaction tree that is unnecessary for each transaction to hold, effectively reducing the size of Ethereum transactions and optimizing the Ethereum blockchain.
“Previously, each transaction’s receipt included the root of the transaction state tree. That is, the root of the Merkle tree immediately after that transaction was added to the tree. The…