Topic: So, how bad are the issues with the Ethereum blockchain - page 2. (Read 2640 times)
Bittrex just fixed their issues and you can now deposit/withdraw.
Status was the worst by far but the network gets congested on every single medium sized and up ICO. As ICOs get more popular the problem is only going to get worse.
This is however a major problem because not only does it affect the people trying to invest in the ICO but it affects everyone else trying to use the network. Projects are going to have to design their ICOs better until ethereum is more capable of handling more transactions.
Civic seems to have a good system for their ICO This is however a major problem because not only does it affect the people trying to invest in the ICO but it affects everyone else trying to use the network. Projects are going to have to design their ICOs better until ethereum is more capable of handling more transactions.
Lllllllllllleeeeet's get ready to.... FAIL!
Same issue at BTC-E
But it will become even more worse,
because of the difficulty-bomb being activated,
https://etherchain.org/charts/difficultyBomb
which will lead to block-times around 30 seconds
until mid of august (doubled).
Taking into account that the ETH-blockchain is overloaded now,
without ever reaching the transactions of bitcoin
https://bitinfocharts.com/comparison/transactions-btc-eth-ltc-doge.html#3m
imagine what will happen with a doubled block-time !
But it will become even more worse,
because of the difficulty-bomb being activated,
https://etherchain.org/charts/difficultyBomb
which will lead to block-times around 30 seconds
until mid of august (doubled).
Taking into account that the ETH-blockchain is overloaded now,
without ever reaching the transactions of bitcoin
https://bitinfocharts.com/comparison/transactions-btc-eth-ltc-doge.html#3m
imagine what will happen with a doubled block-time !
Status was the worst by far but the network gets congested on every single medium sized and up ICO. As ICOs get more popular the problem is only going to get worse.
This is however a major problem because not only does it affect the people trying to invest in the ICO but it affects everyone else trying to use the network. Projects are going to have to design their ICOs better until ethereum is more capable of handling more transactions.
This is however a major problem because not only does it affect the people trying to invest in the ICO but it affects everyone else trying to use the network. Projects are going to have to design their ICOs better until ethereum is more capable of handling more transactions.
Bagholders refused to accepting the true as this unscalable bloat vaporware enjoying pump after pump, hype after hype from insiders and scam devs, they're blind to want to know what is really behind it. How bad? This useless pyramid scam is worthless.
NEM is much more scalable than ETH, maybe it will finally come out to shine, though Ardor is the chief competition for ETH being that people are already issuing tokens on that platform. All the NXT based solutions seem to be fairly robust, like NEM. Then there's the blockchain trimming technology in Pascal which seems to be getting little attention.
Blockchain trimming (Pascal Coin) and child chains (Ardor) seem to be the main competition when it comes to scalability, and NEM with Mijin whenever that gets rolling. Ardor, NEM, and Pascal were all written from scratch.
Having ETH pop presents it's own problems though from a technical standpoint. Hopefully the market can work through them as it's in all our best interests to not have the.. cough.. bubble pop here.. cough.
Disclosure: Long all 3 of these. Also Ark who the poster below me seems to own.
Blockchain trimming (Pascal Coin) and child chains (Ardor) seem to be the main competition when it comes to scalability, and NEM with Mijin whenever that gets rolling. Ardor, NEM, and Pascal were all written from scratch.
Having ETH pop presents it's own problems though from a technical standpoint. Hopefully the market can work through them as it's in all our best interests to not have the.. cough.. bubble pop here.. cough.
Disclosure: Long all 3 of these. Also Ark who the poster below me seems to own.
According to the following chart, ETH did 226,786 transactions in the last 24 hours. That is lower than bitcoin's 276,636
https://bitinfocharts.com/comparison/ethereum-transactions.html
It is NOT good news for Ether if they're getting congested at the same level when bitcoin did. It means they can't scale either, so the search goes on for a coin that can handle volume.
https://bitinfocharts.com/comparison/ethereum-transactions.html
It is NOT good news for Ether if they're getting congested at the same level when bitcoin did. It means they can't scale either, so the search goes on for a coin that can handle volume.
that is not even the worse part!
the transaction fees which Vitalik was so proud of not so long ago are currently above $1.3 on average. and ethereum was supposed to be cheap! and it doesn't have a block size problem like bitcoin.
According to the following chart, ETH did 226,786 transactions in the last 24 hours. That is lower than bitcoin's 276,636
https://bitinfocharts.com/comparison/ethereum-transactions.html
It is NOT good news for Ether if they're getting congested at the same level when bitcoin did. It means they can't scale either, so the search goes on for a coin that can handle volume.
https://bitinfocharts.com/comparison/ethereum-transactions.html
It is NOT good news for Ether if they're getting congested at the same level when bitcoin did. It means they can't scale either, so the search goes on for a coin that can handle volume.
You nailed it.
According to the following chart, ETH did 226,786 transactions in the last 24 hours. That is lower than bitcoin's 276,636
https://bitinfocharts.com/comparison/ethereum-transactions.html
It is NOT good news for Ether if they're getting congested at the same level when bitcoin did. It means they can't scale either, so the search goes on for a coin that can handle volume.
https://bitinfocharts.com/comparison/ethereum-transactions.html
It is NOT good news for Ether if they're getting congested at the same level when bitcoin did. It means they can't scale either, so the search goes on for a coin that can handle volume.
Same with Bittrex. ETH/BTC page says:
Wallet offline - Blockchain congestion detected
Must be more than a simple congestion, even during the heaviest spam attacks no exchange disallowed Bitcoin withdraws because of network congestion.
Wallet offline - Blockchain congestion detected
Must be more than a simple congestion, even during the heaviest spam attacks no exchange disallowed Bitcoin withdraws because of network congestion.
I totally agree this is the first time it happen,they need to fix that they are on a good momentum this could trigger a price drop also notice that an hour ago not a good time to transact now.
Same with Bittrex. ETH/BTC page says:
Wallet offline - Blockchain congestion detected
Must be more than a simple congestion, even during the heaviest spam attacks no exchange disallowed Bitcoin withdraws because of network congestion.
Wallet offline - Blockchain congestion detected
Must be more than a simple congestion, even during the heaviest spam attacks no exchange disallowed Bitcoin withdraws because of network congestion.
There's a news source that's saying it was because of the Bancor ICO that caused the eth network congestion. --> https://qz.com/1004892/the-bancor-ico-just-raised-153-million-on-ethereum-in-three-hours/
So if the sudden influx of users to one wallet could cause congestion in the network, then could that be a vulnerability and used as a point of attack by the unscrupulous?
Same with Bittrex. ETH/BTC page says:
Wallet offline - Blockchain congestion detected
Must be more than a simple congestion, even during the heaviest spam attacks no exchange disallowed Bitcoin withdraws because of network congestion.
Wallet offline - Blockchain congestion detected
Must be more than a simple congestion, even during the heaviest spam attacks no exchange disallowed Bitcoin withdraws because of network congestion.
Poorly designed ICOs ( not the projects themselves ). I've read that there was a cap so whales split their investment into hundred / thousands of smaller ones. This can be expected, it's a whole new field of work. Better ICO practices are already in work.
Same issue with coinbase.
With the Status ICO just past, the Ethereum blockchain is having some problems. For example all the ethereum based wallets at Bittrex are down due to "blockchain congestion detected".
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