Tuur Demeester, who is the founder of Adamant Capital,
declares that Ethereum (ETH) is at best a $ 13 billion scientific experiment. The
Austrian cryptography expert and economist
very renowned for its persistent questioning of the viability of Ethereum
(ETH). This time he indicated the reason why he remains very pessimistic
about Ethereum's Blockchain. Most of his points against Ethereum are provided in a thread of 50 pointers where he is
he referred to the promises of the ETH team to ensure better scalability in the
Ethereum Price (ETH) today – ETH / USD
Demeester: Ethereum can not scale
Demeester cited a peer
review report of the Ethereum Casper / sharding white paper, which is a solution
designed to resize the mainnet in 2014. The review, as per how
the founder of Adamant Capital put it, found that the Casper protocol was a theoretical solution that can not solve the problem
problems of scalability of the network or provide significant security of the Ethereum blockchain.
Demeester also cited another example, in which he recalled his
followers that the developers of Ethereum (ETH) were exploring ways to implement a
second-level solution that will be similar to the Lightning network of Bitcoin (BTC)
solution. However, the economist doubted whether or not the main chain was issued
ERC20 tokens will be compatible with the second layer of Ethereum (ETH).
The test scalability solution
Now it is exactly a year ago from Vitalik Buterin the
founder of the Ethereum Blockchain proposed a new scalability solution,
although it was linked to the implementation of a total infrastructure review of the
attempt. Demeester recommended it
Ethereum (ETH) should go from the Proof of Work to the protocol
Consent to the demonstration of the stake.
In the Proof-of-Work project, each miner must compete with
other miners on the network to address mathematic problems by delivering
its computing power. The greater the computing power, the greater the possibilities
that the miner will solve the problem and receive the reward for the block. As for the
Proof of Stake Protocol, mine is the truth
assigned to the miners with the most coins. In return, a wealthy miner can remove transaction fees
instead of the reward of the block.
Demeester also asked why the Proof-of-Stake protocol,
which is not a new concept, it was adopted at a later stage of Ethereum & # 39; s (ETH)
development. He asked why a
The consent to the job test was created in the first place if the network was going
to update the Proof-of-Stake project. According to him, such an update will do it
alter the network economy. In his
view, the Proof of Work protocol was actually
one of the greatest innovations that
secured the expansion of Bitcoin, after the Proof of Possa was considered
not practical because of the issue of censorship vulnerability.
Demeester: Ethereum (ETH) is extremely overbought
One of Demeester's criticisms of Ethereum (ETH) is that it is
an extremely overbought business class due to the type of hype it got from its own
to launch. According to the founder of Adamant Capital, Buterin promised it
Ethereum (ETH) was created on an untested
future of the test of the pole system on hard forks based on social consensus like
good as a perpetual income to Ether token holders.
Demeester highlighted the efforts of Ethereum (ETH)
contract technology that has seen many quotes in almost every finished blockchain project
in the last four years. Finally, the
reference ratios of economists who mention Ethereum (ETH) as the most important in the world
efficient supercomputer and the ideal solution to resist censorship.