A Better Blockchain: Faster Transactions, Bigger Blocks and Better Gas Pricing

The new update is about helping the network deal with more things happening at the same time without slowing down.

The main idea is to do three things: process transactions at the time make blocks bigger and make gas pricing more sensible.

Now doing transactions one after the other can be a problem when a lot of people are using the network. Doing transactions in parallel means that the network can handle transactions that do not depend on each other at the time.

Then there is the size of the blocks. Bigger blocks mean that the network can fit transactions into each block. This gives the network room to handle times when a lot of people are using it.

The third part is something that users might not notice. It is important for the network in the long run: gas pricing.

When some things are too cheap databases can become too big. By changing the gas costs the update is trying to make sure that the costs are fair and that the databases do not get too big.

So this update is not about making transactions faster.

It is also about keeping the network running as more people use it.

Parallel processing is trying to make the network handle transactions. Bigger blocks are trying to give the network space. Better gas pricing is trying to keep the databases healthy.

When you put all of these things together the update is trying to solve a problem: how can a blockchain handle more activity without causing big problems later?

That is the important thing, about this update.