Topic: The low latency and scalability issues plaguing Ethereum. (Read 96 times)
When Bitcoin was having high fees in 2017, the Ethereum crowd was saying that this is the proof that Bitcoin is outdated technology and that Ethereum will replace it because it's more scalable. Now the same is happening to Ethereum, and there's actually not much chance that Polkadot or whatever other hyped coins out there would dethrone Ethereum, just like it failed to dethrone Bitcoin. All these Ethereum competitors are either even more centralized or would suffer from the same scalability problems if they were to be adopted. The only real solution is systems like Lightning Network that radically change the way transactions are made.
The coins you've mentioned that's going to compete or rather take the "shine off" ethereum also have their own cons and that's what it is about the network, Ethereum imo are doing pretty well and definitely have plans in motion to solve majority of the issues their community of Investors have complaints on. Having said that, ethereum has been on the altcoin network and in second position for quite a long time, that shows consistently in development from their devs, but some of the coins people call "ethereum killers" are pretty new on the network and could be pump and dump coins in the long run, as some have proven to be in the past.
Etheruem has been having the challenge of scalability and many projects have tried to solve this yet the coin still retains its position as the second top crypto coin in the market. Although, while Ethereum 2.0, the network’s second, proof-of-stake iteration, is almost done, there is little faith that these solutions alone will be able to give the market a truly decentralized and efficient network.
Either there was this lack of faith that led to the creation of multiple-chain networks, all of which set out to solve Ethereum’s lack of scalability. There are dozens of networks like these currently on the market, but few have managed to get the traction and recognition.
The coins that have toped in the list of technology to take the shine off etheruem are Polkadot, Cosmos, and Avalanche but they are also having their own technical and technological issues which is why etheruem is still much relevant and occupying the position it is today.
https://cryptoslate.com/comparing-the-technicals-of-polkadot-dot-cosmos-atom-and-avalanche-avax/
That is not a issue anymore as many 2nd layer solutions are already available in the market and thousands of smart users are already making use of them.Either there was this lack of faith that led to the creation of multiple-chain networks, all of which set out to solve Ethereum’s lack of scalability. There are dozens of networks like these currently on the market, but few have managed to get the traction and recognition.
The coins that have toped in the list of technology to take the shine off etheruem are Polkadot, Cosmos, and Avalanche but they are also having their own technical and technological issues which is why etheruem is still much relevant and occupying the position it is today.
Quote
Polkadot
Polkadot's consensus protocol can’t scale to multiple nodes on a single chain.
Polkadot's consensus protocol can’t scale to multiple nodes on a single chain.
Quote
Cosmos
The hub has no control over the zones, which means that there is no guarantee that any of the zones that stem from it are secure. The level of security seen in any of the zones never affects the overall security of the hub, which means that the network’s users take on all the risks of interacting with the zones.
The hub has no control over the zones, which means that there is no guarantee that any of the zones that stem from it are secure. The level of security seen in any of the zones never affects the overall security of the hub, which means that the network’s users take on all the risks of interacting with the zones.
Quote
Avalanche
cross-subnet communication isn’t live on Avalanche yet, and the network is yet to see major traction both among users and developers.
cross-subnet communication isn’t live on Avalanche yet, and the network is yet to see major traction both among users and developers.
https://cryptoslate.com/comparing-the-technicals-of-polkadot-dot-cosmos-atom-and-avalanche-avax/
As far as overall efficiency of Ethereum network is concerned that would also be addressed comprehensively with upcoming upgrades so stay positive good times are surely coming for eth community.
Either there was this lack of faith that led to the creation of multiple-chain networks, all of which set out to solve Ethereum’s lack of scalability. There are dozens of networks like these currently on the market, but few have managed to get the traction and recognition.
If you’re looking for something that’s going to hundred percent, you are not going to find it. Everything you’re going to find will in or the other have their cons, they can’t be perfect hundred percent. Ethereum is good, but it still has its own issues and scalability has been the issues for years.The ETH 2.0, we have been talking about this version for quite a long time now and we still have not gotten anywhere with it. A lot of people have hyped Polkadot to be the perfect replacement, but here we still have the cons. I still think Ethereum will continue to be at that top position, because the first in most cases remains the first.
I have heard of a proposal that when we transact the fees generated in the process that will be burned on the ETH network, so I think there will be no problem with the possibility of expanding the network in the future. That proposal is done. And more than that I see people are putting a lot of faith in ETH 2.0, trust me no one can replace its position in this market.
When it comes to Bitcoin, a lot of people says it has slow transactions confirmation and so on, many developers then came out with the claim to develop a more better blockchain with speed and faster transactions confirmation but yet Bitcoin has succeeded in remaining in its position while all those platforms and blockchains are no where to be found now; I don't also think there is any challenging Bitcoin in that aspect again.
The same is in the case of Ethereum and many are saying a lot about it, many blockchains have been built over the years with the aim of taking over from Ethereum but yet Ethereum still remains unmovable. Therefore from these case of Bitcoin and Ethereum, I think it has to do with trust, and both has offered it perfectly.
There is no doubt others like Polkadot is trying their best, but they still have a long way to go and that is what will determine how far they will grow to, remember that even with Ethereum latency issues, investors are still not slowing down in investing in it hence the price today while upcoming projects are not slowing down on going for it.
So in my own opinion, let's give these platforms time to see how far they will get to, because there are many competitions now or so it seems.
The same is in the case of Ethereum and many are saying a lot about it, many blockchains have been built over the years with the aim of taking over from Ethereum but yet Ethereum still remains unmovable. Therefore from these case of Bitcoin and Ethereum, I think it has to do with trust, and both has offered it perfectly.
There is no doubt others like Polkadot is trying their best, but they still have a long way to go and that is what will determine how far they will grow to, remember that even with Ethereum latency issues, investors are still not slowing down in investing in it hence the price today while upcoming projects are not slowing down on going for it.
So in my own opinion, let's give these platforms time to see how far they will get to, because there are many competitions now or so it seems.
All these projects you listed above are good project but they lack developers, no matter how good your projects is, if no developer is building on it them it is good for nothing, Polkadot is doing well in this regards with the Web foundation grants bt other projects are fall behind, it will be good to see a serious blockchain come toes to toes with Ethereum, may be then they will know Ethereum has a major scaling issue that is keeping the whole space behind
There would be no perfect chains and this is my understanding. Any protocol will always have pros and cons.
I also feel that too. Protocols and projects always have challenges to handle itself and such that will be deficiency in it that another protocol will take care of as a niche and more etc.
Agreed. basically, the new projects were only solving the puzzle that is not yet solved by the old project. That's why we have been seeing so many platforms that they were working on the same problem.
It needs more than 10 blockchain platforms to fix the scalability problem that faced by ethereum.
Network scalability is a very important metric, but we shouldn't be asking about decentralization.
If the main nodes for validation in the network belong to developers or several investors, then its scalability loses its meaning.
It will take a lot of DOT coins to run prarachin in the polcadot ecosystem. This is a huge disadvantage of the polcadot ecosystem because it closes the doors for many projects.
The Ethereum ecosystem is much more user-friendly to new projects.
If the main nodes for validation in the network belong to developers or several investors, then its scalability loses its meaning.
It will take a lot of DOT coins to run prarachin in the polcadot ecosystem. This is a huge disadvantage of the polcadot ecosystem because it closes the doors for many projects.
The Ethereum ecosystem is much more user-friendly to new projects.
I wonder what consensus mechanism Polkadot uses.
Well, I don't understand the problem yet but I think the idea suppose to be to have a Multi-Blockchains Network anyone can easily participate in without having to be limited by the "large" minimum number of Stake or Hardware requirements . The huge minimum requirements just complicate things and make nonsense of the idea of well decentralized network/system.
Another important thing to consider, Blockchains should be mostly for light data. There should be separate Networks within a Cryptocurrency Network for storing files like audio, video, images,etc, and the seperate networks could be scaled almost thesame way multi-Blockchain Network is scaled.
Well, I don't understand the problem yet but I think the idea suppose to be to have a Multi-Blockchains Network anyone can easily participate in without having to be limited by the "large" minimum number of Stake or Hardware requirements . The huge minimum requirements just complicate things and make nonsense of the idea of well decentralized network/system.
Another important thing to consider, Blockchains should be mostly for light data. There should be separate Networks within a Cryptocurrency Network for storing files like audio, video, images,etc, and the seperate networks could be scaled almost thesame way multi-Blockchain Network is scaled.
There would be no perfect chains and this is my understanding. Any protocol will always have pros and cons.
I also feel that too. Protocols and projects always have challenges to handle itself and such that will be deficiency in it that another protocol will take care of as a niche and more etc.
There would be no perfect chains and this is my understanding. Any protocol will always have pros and cons.
I have been seeing so many shillers from avalanche was claiming its platform was the perfect platform. Thank you so much for this article dude.
This article was explaining a lot with an honest review. Too much BS that spread by shillers and it's different from the reality.
I have been seeing so many shillers from avalanche was claiming its platform was the perfect platform. Thank you so much for this article dude.
This article was explaining a lot with an honest review. Too much BS that spread by shillers and it's different from the reality.
Etheruem has been having the challenge of scalability and many projects have tried to solve this yet the coin still retains its position as the second top crypto coin in the market. Although, while Ethereum 2.0, the network’s second, proof-of-stake iteration, is almost done, there is little faith that these solutions alone will be able to give the market a truly decentralized and efficient network.
Either there was this lack of faith that led to the creation of multiple-chain networks, all of which set out to solve Ethereum’s lack of scalability. There are dozens of networks like these currently on the market, but few have managed to get the traction and recognition.
The coins that have toped in the list of technology to take the shine off etheruem are Polkadot, Cosmos, and Avalanche but they are also having their own technical and technological issues which is why etheruem is still much relevant and occupying the position it is today.
https://cryptoslate.com/comparing-the-technicals-of-polkadot-dot-cosmos-atom-and-avalanche-avax/
Either there was this lack of faith that led to the creation of multiple-chain networks, all of which set out to solve Ethereum’s lack of scalability. There are dozens of networks like these currently on the market, but few have managed to get the traction and recognition.
The coins that have toped in the list of technology to take the shine off etheruem are Polkadot, Cosmos, and Avalanche but they are also having their own technical and technological issues which is why etheruem is still much relevant and occupying the position it is today.
Quote
Polkadot
Polkadot's consensus protocol can’t scale to multiple nodes on a single chain.
Polkadot's consensus protocol can’t scale to multiple nodes on a single chain.
Quote
Cosmos
The hub has no control over the zones, which means that there is no guarantee that any of the zones that stem from it are secure. The level of security seen in any of the zones never affects the overall security of the hub, which means that the network’s users take on all the risks of interacting with the zones.
The hub has no control over the zones, which means that there is no guarantee that any of the zones that stem from it are secure. The level of security seen in any of the zones never affects the overall security of the hub, which means that the network’s users take on all the risks of interacting with the zones.
Quote
Avalanche
cross-subnet communication isn’t live on Avalanche yet, and the network is yet to see major traction both among users and developers.
cross-subnet communication isn’t live on Avalanche yet, and the network is yet to see major traction both among users and developers.
https://cryptoslate.com/comparing-the-technicals-of-polkadot-dot-cosmos-atom-and-avalanche-avax/
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