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Although Ethereum is one of the most recognized projects in this budding industry, it has undoubtedly gained notoriety in some of the cryptocurrency industry environments. While many have kept their self-apprehension, a cruel cynic has taken on Twitter to say his own, stating that ETH is better to keep a "scientific experiment". Still, Vitalik Buterin, probably the most important co-founder of Ethereum, issued a long-winded response that aimed to dispel the critic's conjectures.
Bitcoin Investor Bashes Ethereum
On Friday, Tuur Demeester, a cynical altcoin, Bitcoin supporter and investor, has compiled his years of skepticism towards Ethereum by publishing a 50-piece Twitter thread. Through his fierce messages, Demeester, the founder of Adamant Capital, a so-called "Bitcoin Alpha Fund", has conveyed a multitude of reasons why he is skeptical of the project.
In his eyes, the underlying architecture and culture of Ethereum are the net opposite of Bitcoin. However, the previous project still seems to try to achieve decentralization and immutability, at the same time becoming a repository of value, an asset issue platform and an intelligent contract facilitator. Demeester considers these ambitions unrestrained as non-sensory, explaining that the project is a "scientific experiment at best", before belittling that its valuation of $ 15 billion is too high.
Along with these general criticisms, the critic also said that the prospects of downsizing the project, in particular with sharding and Proof of Stake (PoS), are depressing. Demeester noted that nothing is delivered on time, arguing that the integration of sharding is an "unrealizable dream" and that the PoS is fundamentally flawed. The head of Capital Adamant also added that the draft of Casper's whitepaper by Correct-by-Construction was lackluster, citing in particular an "unparalleled review" by "reputable developers".
Gathering its points in a single comment, the Bitcoin supporter stated that Ethereum is the "Yahoo of our day – a scalable cryptocurrency" blue chip ".
Related reading: Crypto Developments in abundance at Devcon4, Serenity Among Them
Vitalik Buterin did not take criticism by lying down
And while Demeester's comments faded into the cryptic community's mind for a day, Saturday, Vitalik Buterin made it clear that he would not take the criticism. Buterin, an extraordinary Russian-Canadian programmer and member of the long-standing Bitcoin community, has taken the official sucreddit of Ethereum to release a point-by-point refutation of the critic's doubts.
The discussion on the criticism of Tuur starts from ethereum
The developer claimed for the first time that he had found the culture of Ethereum "much healthier [than that of Bitcoin]"But he joked that he is obviously biased on that front." Commenting on the joke of the "scientific experiment", Buterin noted that this is not a valid argument, potentially touching the feeling that at this stage, all blockchain projects are still meat prototypes Buterin has even refuted Demeester's claims that scaling down for Ethereum is nothing more than a quixotic dream, writing:
"The fundamental principles [of sharding] they have been known for years, the core design for almost a year, and the details for months, with the implementations coming soon. Of course, sharding is not over yet. Although more incremental things are going well, e.g. Uncle rates are close to historic lows despite the very high chain usage. "
In closing, Buterin said that Demeester has skipped "the progress the Ethereum community has made in its expansion and professionalization", also in terms of downsizing protocols that could eventually turn the project on its head. And on the question of PoS qualifications, the cryptocurrency savant said that many objections to this consensus mechanism "are cultural, not technical", they later suggest that having a culture that goes well with compromises is part of the strengths of Ethereum.
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