Home Cryptocurrency This Is Why ETH Is Doomed To Die

This Is Why ETH Is Doomed To Die

by Syed Shoeb
, This Is Why ETH Is Doomed To Die

Ethereum’s development team has been struggling to scale the coin to make it the most prominent smart contract platform in the world. The team had disagreements and that has delayed development roadmaps. Founder and Leading Developer, Vitalik Buterin, thinks that Ethereum will be on track in less than a year from now but Ethereum’s competitors like Tron and EOS are making the right moves and scaling faster than ever.

While Ethereum is a project with strong fundamentals and a clear purpose, it has always faced the challenge of scaling. Vitalik Buterin stated:

 “In the longer term (1+ year out) the scalable data layer is going to be ethereum 2.0, because its planned 10 MB/sec data throughput is much higher than that of any existing blockchain. In the shorter term, however, we can start working on these techniques immediately by using existing blockchains, particularly those that have lower transaction fees per byte than ethereum, as the data layer.”

Ethereum has been considering the idea of taking Bitcoin Cash’s help to build on Ethereum’s network and solve the challenge of scaling. Ethereum faces a restrain due to its initial design choices. Bitcoin Cash as a community has always welcomed projects and makes space to do so plentiful. Ethereum is planning to run its platform on BCH and pay transaction fees. Vitalik shared examples of projects who did the same before, like memo.cash and honest.cash, that run on the Bitcoin Cash blockchain. Ethereum is counting on arbitrary data storage that is enabled by Bitcoin Cash chain.

Crypto Twitter reacted hilariously and took the opportunity to call this the “death” of Ethereum. The bottom line is that if Ethereum needs the help of another cryptocurrency to solve its scaling problem, it is inevitably doomed to fail.

Vitalik is known to analyze situations rationally and find several possible solutions. Using another chain to tackle Ethereum’s challenges is just one of the several possibilities. Vitalik has also made it clear that Ethereum will be capable of processing more transactions than any other blockchain architecture in the coming few months.

A project like Ethereum will deliver in the long run, though the near future looks glib. Projects that were developed on Ethereum are being ported to other chains like Tron without any friction. Ethereum is accepting the changing cryptocurrency landscape and this may be its only bid for survival. It might be early to call this the “death”of Ethereum, given that Ethereum ranks 2nd to Bitcoin in Market Capitalization.

Related Posts