Thank you for this article, I do agree that scalability is one of the major issues today in the blockchain. I invested in a couple of ICO's lately that are trying to solve the Issue, One is called Zilliqa and the other is Credits, Would love to hear your opinion about them.
Scalability is the biggest problem with Bitcoin and Ethereum. It will be interesting to see can this problem be solved, and how long will it take.
As you said, there are a lot of competitor for Ethereum, and if it can't fix the problem of scalability, some other crypto will most likely take Ethereum's place (EOS might be one of the biggest candidates right now).
PS. A great article man, very informative, and on a important topic!
Ethereum is fundamentally limited by single threaded performance of a CPU. Discussion over GAS costs/etc is misleading because the maximum GAS that an individual node can process is limited and there is relatively little room to optimize execution.Early test networks reached 25 tx/second. With optimizations they may be able to reach 50 tx/second. Ethereum scalability improvements (PoS and Sharding) up to 30,000 tc/second.
Thanks for the comment! I saw testnet results and was impressed, but sharding test results are yet to be released so I'm waiting to see how it goes regarding txs!
I'm just wondering, if it takes another 2 - 5 years to fix ETH's scaling issues, won't there be huge issues if it continues to grow? I mean to the point where it becomes barely usable.
Anyway, looking forward to reading your next article, when you reveal which technology would be an improvement.
Well that is a proper fix, they will have betas, prototypes etc. You are right though, if mass adoption occurs I imagine many cryptos will have issues from a scalability point of view! Thank you, it will be in the next week or two.
Your post is certainly well-timed! I just checked Blocktivity, and it say that Ethereum is running at 100% of capacity. As I write, there are 22,792 unconfirmed transactions.
Looks like gas is going to become more expensive...
NEO use is growing exponentially and can currently handle 1000 transactions per second with testing up to 5000. Like most blockchains they have plans to improve more in near future. https://neodepot.org/charts/transactions-count-date
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Thank you for this article, I do agree that scalability is one of the major issues today in the blockchain. I invested in a couple of ICO's lately that are trying to solve the Issue, One is called Zilliqa and the other is Credits, Would love to hear your opinion about them.
You tease! Tell us! :P
Scalability is the biggest problem with Bitcoin and Ethereum. It will be interesting to see can this problem be solved, and how long will it take.
As you said, there are a lot of competitor for Ethereum, and if it can't fix the problem of scalability, some other crypto will most likely take Ethereum's place (EOS might be one of the biggest candidates right now).
PS. A great article man, very informative, and on a important topic!
Ethereum is fundamentally limited by single threaded performance of a CPU. Discussion over GAS costs/etc is misleading because the maximum GAS that an individual node can process is limited and there is relatively little room to optimize execution.Early test networks reached 25 tx/second. With optimizations they may be able to reach 50 tx/second. Ethereum scalability improvements (PoS and Sharding) up to 30,000 tc/second.
Thanks for the comment! I saw testnet results and was impressed, but sharding test results are yet to be released so I'm waiting to see how it goes regarding txs!
I'm just wondering, if it takes another 2 - 5 years to fix ETH's scaling issues, won't there be huge issues if it continues to grow? I mean to the point where it becomes barely usable.
Anyway, looking forward to reading your next article, when you reveal which technology would be an improvement.
Well that is a proper fix, they will have betas, prototypes etc. You are right though, if mass adoption occurs I imagine many cryptos will have issues from a scalability point of view! Thank you, it will be in the next week or two.
9.23% @pushup from @lukebrn
Your post is certainly well-timed! I just checked Blocktivity, and it say that Ethereum is running at 100% of capacity. As I write, there are 22,792 unconfirmed transactions.
Looks like gas is going to become more expensive...
NEO use is growing exponentially and can currently handle 1000 transactions per second with testing up to 5000. Like most blockchains they have plans to improve more in near future.
https://neodepot.org/charts/transactions-count-date
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by lukebrn from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP.
Be sure to leave at least 50SP undelegated on your account.
Sounds interesting Luke.