"Forbes" issued a letter on August 27, "Ethereum is almost full, so the digital account better than Bitcoin is running out of capacity." Reported that last week, Ethereum co-founder Vitalik Bu Vitalik Buterin issued the above warning. He pointed out that for some users, the cost of processing transactions using ETH may be too high.
According to the tracker Etherscan.io, ETH's network utilization has soared to 90%. Buterin said that as utilization rates increase, transaction costs may increase, which may make potential business users hesitant to use Ethereum.
- Market analysis: disk fluctuations continue to shrink, and risk should be avoided at critical moments
- A paper reveals: "The Eye of the Government" and "Encryption World Perspective" Chainalysis
- Bank of England Governor: Libra-like digital currency will be the best option to replace the dollar system
- Research | What is the impact of Brexit on the digital currency market?
- Introduction | Ethereum 2.0: Rationalization and Certainty
- Cross-border dialogue | How do Haier, Fast, Sany, Changhong and other well-known companies view the digital economy?
Bitcoin development company Blockstream CSO Samson Mow forwarded this report from Forbes and commented:
“Ethernet is a technical dead end. The more it is used, the faster it will die. Fortunately, USDT is also available on #LiquidNetwork, it has more scalability and will be allowed later. Assets like Tether create lightning networks."
Samson’s criticism of Ethereum sparked a counterattack from Ethereum supporters, including Vitalik Buterin (“V God”), the core figure of Ethereum. Buterin replied to Samson,
“You really realize that Bitcoin is “almost full,” just like Ethereum, right?”
To say that the block is full and the network is congested, it seems to many people that Bitcoin is the least qualified to blame other projects. The problem of bitcoin network capacity has long been a problem that has been debated for several years (the lightning network seems to be too embarrassing), and even because of this problem, the Bitcoin network has split and Bitcoin Cash has been born.
However, is the “block full of Ethereum” the same as Bitcoin? Samson replied "V God",
“No. It's very different. All blockchains won't expand, but the situation in Ethereum is even worse. Bitcoin is used to verify transactions. Ethereum is used to fill and calculate various irrelevant data.”
Ethereum Supporters Vs. Bitcoin Supporters
The controversy between the two heavyweights from the Ethereum and the Bitcoin community naturally attracted a group of “people who eat melons” and they began to rhythm.
"There is no smart person at Ethereum. Smart people are studying bitcoin. From the beginning, ETH was considered a crazy scam. Ethereum used its marketing budget to attract all those who are not qualified to engage in bitcoin research but want to advertise I am an idiot for a password expert."
"Vitalik, you are very smart, you are right. But sometimes, when you talk, try to wrap it in the right way, because if you say that the Ethereum blockchain is almost full, it doesn't mean bits. The coin is also full. You are telling the truth, but at the same time it conveys a "wrong" message to investors."
"What are you talking about? @VitalikButerin I am still able to use a computer that has been in use for 10 years to run and fully synchronize a bitcoin node in a few hours. From the outset it is obvious that Ethereum will never expand."
"No, the "full" of the two is not exactly the same. Let us start from the most basic:
Download, verify and store the entire bitcoin chain on inexpensive hardware:
Download, verify and store the entire Ethereum chain on any hardware: ❎
ETH is a scam. ”
“ETH is central and requires third-party services to interact with the chain.”
“Bitcoin is almost saturated, and there is a solution, and it is under development, which helps to alleviate the pressure. Your garbage is being completely rebuilt, trying to solve the problem, there is no guarantee.”
“These two blockchains are used to verify transactions. You confused Golem with Ethereum.”
“If Ethereum is a dead end, how do you build something like @MolochDAO on Bitcoin?”
“The Ethereum block is filled because we are lazy and don’t feel pressure to move to Tier 2, otherwise we have now achieved it.”
"Agree… For ETH, the average price per transaction is not too high. This year ETH's network growth rate is not as fast as BTC, and BTC's transaction price is already a few dollars."