Twitter staged "year-end drama", Ethereum founder Vitalik Buterin became industry leader

BitTorrent creator Bram Cohen recently expressed his opposition to Ethereum in a Twitter storm against Ethereum founder Vitalik Buterin and outlined his concerns about the feasibility of the project.

guy-2617866_1280

Image source: Pixabay

The crypto community has never been short of "big shows", and a new show seems to be emerging. Recently, Ethereum co-founder Vitalik Buterin shared an article entitled "Five Years Later: Hardcore Issues of Cryptocurrencies". Buterin elaborated on different aspects, plans and issues that are or may start to affect the cryptocurrency industry, especially Ethereum.

However, although Buterin seems to focus on these issues as a whole, such as scalability, timestamps, arbitrary proofs of calculations, code obfuscation, hash-based cryptography, etc., not everyone agrees.

Cohen Furious Vitalik Buterin

The creator of BitTorrent, Bram Cohen, opposed Buterin's claims on Twitter, basically refuting most of Buterin's claims, or pointing out that for various reasons, it is not even worth considering some solutions now. He called Buterin's claim wrong, and then started a topic of up to 28 tweets, in which he resolved Buterin's claim point by point.

For example, in Buterin's article, when he talked about blockchain scalability, Buterin mentioned the use of sharded on-chain expansion as the only option worth considering. Cohen strongly disagrees, saying that the payment channel network is a better way to achieve this and is becoming "the real thing."

This seems to be one of the most striking parts of Buterin's article, as he sees it as a reliable method that eventually no longer requires miners to have all the shards. According to him, this is not sharding, but redefining what a "full node" is. Of course, Buterin did not claim this, but Cohen believes that if the technology behind cryptocurrencies goes this way, this is likely to be the end result.

Cohen responded to Buterin's other points in a similar way, but generally disagreed with Buterin's point of view, or claimed that some solutions have not yet been developed, so it needs to be carefully considered at present.

Cohen mentioned Buterin's view on "arbitrary proof of calculations." Cohen commented that "a lot of very exciting things are happening with this concept." However, he pointed out that he would not study it carefully for at least a period of time. In a few more years, he does have high hopes for the concept, but he clearly believes that the concept is not yet perfect.

For other points put forward by Buterin, Cohen also thought it unnecessary. For example, code obfuscation is such a segmented field. Buterin, the Ethereum co-founder, hopes to develop further, while Cohen believes that zero-knowledge proof technology has actually satisfied almost all use cases.

Ethereum's transition to PoS is a "bad idea"

Cohen also commented that Ethereum's transition to PoS was "a bad idea." He believes that this will fundamentally weaken Ethereum's security model and will lead to countless other technical issues. He acknowledged that some progress had been made in the field, but he still seemed less confident about it.

He also commented on the timestamp, claiming that the timestamp was okay and that no other changes were needed.

Blockstream CEO Adam Back also commented on Cohen's and Vitalik's tweet storm, comparing the Ethereum co-founder to the infamous blood monitoring company Theranos (from the unicorn enterprise to the last confirmed one Scam) founder Elizabeth Holmes. (Theranos has claimed to have invented a device that claims that without needles, just pierce your fingers to get a few drops of blood, you can complete up to 240 medical tests in professional medical laboratories, which can detect almost everything from cholesterol to cancer. At one time it was called "female version of Jobs." Theranos was finally confirmed to have a flawed device and was misrecognized)

WX20191127-190632 @ 2x

Adam Back tweeted Buterin, "Some investors in Theranos are still fantasizing that if they try again, they can make the device."

Back also said,

"Knowing the state of the cryptocurrency technology from Buterin is like understanding the state of biotechnology from the infamous blood testing company Theranos founder Elizabeth Holmes."

Faced with so many doubts, Buterin also tweeted that he had been "insulted" and said it might be a record this time.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Market

Shiba Memu: A Presale Worth Barking About

Jump on the bandwagon Shiba Memu's presale ends soon and everyone is buzzing about investing in gold.

Market

Jito Foundation Unleashes JTO Token: Empowering Solana’s Liquid Staking with a Bang!

Fashionistas, get ready to upgrade your knowledge on Jito Foundation! This cutting-edge company, known for their Sola...

Blockchain

Ireland Wins the Regulatory Race Coinbase Chooses It as Its EU Headquarters

Coinbase, a leading company in the cryptocurrency industry, is planning to expand into the EU and other global market...

Market

The Rise and Fall of HyperVerse: A $2 Billion Ponzi Scheme Exposed by the SEC 😱

The US Securities and Exchange Commission (SEC) has taken legal action against the two founders of HyperVerse, filing...

Blockchain

Shiba Inu briefly drops on Coinbase after 50% price surge

The value of Shiba Inu (SHIB) experienced a temporary decrease on the Coinbase exchange, which was attributed to a gl...

Blockchain

💰 HashKey Group Raises $100 Million in Series A Funding, Valuation Reaches $1.2 Billion! 🚀

HashKey Group has just announced the successful completion of their Series A funding round, raising an impressive amo...