Ethereum Blockchain Congestion! Price crash incoming

findingthemoon

full member

Activity: 252

Merit: 123

Quote from: psychosis7 on June 20, 2017, 01:31:24 PM

The latest debacle with the Eth network is the Status ICO crowdsale. It seems to have congested the ETH blockchain and now transactions are stuck in queue. Price just dropped 15% on polo and it seems to keep going down.

Looks like we just got our first glimpse at Eth's major problem - IT DOES NOT SCALE!

So what happens when all these apps start getting used? simple answer is Eth grinds to a halt. All of this money invested in a broken product.

About the scaling I believe this is why they want to switch over to proof of stake eventually. But I think you are correct at least in the short term the problems in the ethereum blockchain are going to continue for a while.

iamTom123

hero member

Activity: 490

Merit: 501

I have not yet read any explanation for this Ethereum problem and I would wait for an official pronouncement before making any judgement. Anyway, no matter how good a technology we are promoting there would come a time when a crash can happen. Congestion can also happen because of transaction volume.

Ethereum right now is getting popular and users are expanding in many fronts. There are now many other coins exploiting what the Ethereum platform can bring. But I don't believe Ethereum and its stakeholders could not find the right solution for this problem.

In other words, it is still too early to judge Ethereum knowing it already survived a lot of challenges before.

psychosis7

member

Activity: 84

Merit: 10

severe mental disorder

The latest debacle with the Eth network is the Status ICO crowdsale. It seems to have congested the ETH blockchain and now transactions are stuck in queue. Price just dropped 15% on polo and it seems to keep going down.

Looks like we just got our first glimpse at Eth's major problem - IT DOES NOT SCALE!

So what happens when all these apps start getting used? simple answer is Eth grinds to a halt. All of this money invested in a broken product.

Topic: Ethereum Blockchain Congestion! Price crash incoming (Read 3365 times)