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Vitalik and Zhao discuss blockchain scalability and speed

blockchain scalability and speed

Co-founder of Ethereum Vitalik Buterin recently discussed blockchain scalability and speed problems faced by Ethereum Blockchain.

These problems are rising due to its rising transaction fee and as usual, the crypto community poured in with their own opinions.

Binance’s Changpeng Zhao responded to this situation, which then turned into a rundown from Ethereum’s co-founder to various digital currency personalities on Twitter.

Blockchain scalability and speed

This whole episode revealed that Changpeng doesn’t believe that speed is an issue for blockchains, as it was previously. He believed that the current issue requires growth in real applications which would be valuable for the users to control the issues of capacity in the future.

 

Meanwhile, Vitalik Buterin opposed this point of view and revealed in his tweet that the issue of scalability is not just for Ethereum’s blockchain but other blockchains are also experiencing the same limitations.

https://twitter.com/VitalikButerin/status/1164084194357731328?s=19

 

TheBlock’s Larry Cermark also responded to Zhao and explained that the new blockchains have been giving up on various aspects such as censorship resistance and centralization to build up the scalability.

Reportedly, Ethereum is heading towards its upgrade 2.0, yet the issues of speed and scalability play a major role in hindering the adoption.

However, Buterin explained the measure for preventing this, thereby, causing a reduction in the transaction fee and creating space for big organizations to be able to access Ethereum blockchain.

Johnson Go

Johnson Go

Blockchain enthusiast, project management specialist, writer and crypto investor. JG deals mostly with problems and solutions of crypto projects and provides market outlook for investments. He contributes his analytical skills to projects.

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