Elon Musk Dogcoin His statements about his greatness prompted even the co-founder of Ethereum to speak out.
The EthereumCo-founder Vitalik Butterin recently published a lengthy study on the limitations of blockchain scalability, criticizing the exaggerated statements of Tesla CEO Elon Musk.
Butterin posted on his personal blog on Sunday In the article Ethereum’s father said that when designing a blockchain network, a deal must be made between scalability and decentralization.
Dogcoin block time will be increased tenfold, size will be increased tenfold and fees will be reduced by 100 times. Then you will succeed.
Butterin questioned Musk’s statements, citing the challenge of increasing scalability and throughput. “This is not possible without compromising the basic features on which the blockchain is based without leading to extreme centralization.”
He stressed the need for decentralization to prevent the network from appearing to individual failure points (SPOFs) and the kind of protection that supply chains enjoy from coordinated attacks.
He added that decentralization cannot be achieved without giving users the opportunity to run nodes automatically.
“In order to decentralize a blockchain, it is also crucial that ordinary users can run the nodes themselves, developing a culture in which running nodes are a common function.”
Butterin said the same amount of fragmentation is possible for most centralized networks.
Butterner predicts that Ethereum will split based on the current state of the Ethereum network “It may be able to process one million transactions per second while maintaining the complete security of the blockchain.”
“However, it would take a lot of work to do all this without sacrificing decentralization, which makes blockchains so valuable.” He added.
In March, the Ethereum co-founder said that more roll-ups would be implemented in Ethereum before the split with Ethereum 2.0.
Muscock, meanwhile, responded to Butler’s comments on Cointalegraph’s Twitter. Following is the Twitter post:
He is afraid pic.twitter.com/78WzM5ICjA
– Elon Musk (Elon Musk) May 24, 2021
Have you read this? How to build your cryptocurrency portfolio as a starter in 2021? – Bitcoin Tips
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