Ethereum Founder Vitalik Buterin Bashes CZ Binance about New Blockchains Solving Capacity Issues

Libra Coin News
Wed, 08/21/2019 - 09:50
Yuri Molchan
CZ Binance accuses Ethereum of failing to solve its capacity issues, Vitalik stands up to him, says that new blockchains are having capacity problems too
Cover image via vk.com
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When talking to the Toronto Star recently, the Ethereum creator Vitalik Buterin touched upon the scalability issue, saying that this is the major factor preventing Ethereum from wider adoption. 

Vitalik stated that Ethereum is ‘almost full’, meaning that transaction verification is slow and the amount of TPS is not very high due to that.

Ethereum is ‘almost full’

Commenting on the issue, Vitalik mentioned that the current capacity issues may prevent new blockchains being built on Ethereum, since the latter is packed with transactions.

He believes that several steps will help solve this problem, naming Ethereum 2.0 and adopting PoS consensus protocol as main factors here.

Another solution suggested by Buterin was making Ethereum function in the way where all machines in the network would not have to verify every single transaction.

If we can move to networks where every computer on average verifies only a small portion of transactions then it can be done better.” 

Vitalik also believes that this would make Ethereum cheaper to use.

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CZ Binance says Ethereum is behind the times

In a recent tweet, the creator of Binance, CZ, stated that despite his good attitude to Ethereum, he reckons that blockchains that came to existence long after Ethereum are much more scalable and have solved the difficulties that Vitalik’s brainchild is facing.

Vitalik Buterin responded that this statement is far from being true and named EOS as a platform that has hit the scalability snag too.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.


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