“The Ethereum blockchain is almost full,” Vitaly Beterin voiced this opinion in an exclusive interview with. The STAR magazine. During a conversation with reporters, the young millionaire shared his views on the prospects of the project and the cryptocurrency market as a whole.
The main topic of the interview was the pressing problems of the Ethereum network, especially the issues of its scalability. Over the past week, the value of the coin fell 7.3%.
What prevents the growth of Efirum in the opinion of its developer? Vitaly noted that the reason was the limited bandwidth of the cryptocurrency, that is, a limited number of transactions. And in turn, the rapid growth of the currency is possible only in case of its mass distribution. Buterin voiced a negative scenario to which the current situation will lead:
Scalability is a serious obstacle, since the Ethereum blockchain is almost full. Due to the flow of new users, transaction fees will begin to grow rapidly, while the pressure on developers will increase
Также Виталий предложил новую концепцию развития криптовалюты, согласно которой Эфириум отойдет от амбиций обработать наибольшее возможное количество транзакций, а вместо этого система будет рандомно выбирать для подтверждения лишь определенный процент транзакций. Он также допускает интеграцию Lightning Network Биткоина в работу со смартконтрактами на
Vitaliy also proposed a new concept for the development of cryptocurrency, according to which Ethereum will abandon its ambitions to process the largest possible number of transactions, and instead the system will randomly choose to confirm only a certain percentage of transactions. It also allows the integration of Bitcoin’s Lightning Network into Ethereum smart contracts.
However, this statement may be another attempt to draw attention to the cryptocurrency, since in 2020 Ethereum plans to switch to Proof-of-Stake. In addition, we have not yet noticed any abnormal workload on the ETH Gas Station resource.
In addition to this issue, Buterin discussed with journalists the regulation of the cryptocurrency market and noted a number of successful launches of state cryptocurrencies.