Home / Ethereum / The debate on the scalability of etereum continues while Vitalik defends ether users on gas prices

The debate on the scalability of etereum continues while Vitalik defends ether users on gas prices



The debate on the scalability of etereum continues while Vitalik defends ether users on gas prices

Afri Schoedon, an enthusiastic user of Ethereum and an official of Parity Communications, went on to tweet, in September 2018, that the Ethereum is actually able; therefore, he went on to ask that users on the market stop creating new Dapps, decentralized apps.

Also Vitalik Buterin, who is the confessor of Ethereum, urged users not to follow the advice that was given. When we take a deep dive into the Ethereum network metrics, we have indicated that Ethereum is currently unavailable; therefore, it has a lot of room for it to grow.

The volume of the Ethereum transaction

The transaction volume was considered as one of the simplest Ethereum network metrics that anyone can understand. It is a proof that the contrary argument that the Ethereum platform is capacity. If we check out in January 2018, Ethereum was able to exceed 1.25 million transactions on a given day. And since then, investors have seen the volume of Ethereum transactions shrink gradually, and currently it's 500,000 sales per day.

There was a time when Ethereum was able to handle over half of their current volume of daily transactions, and clearly did not stop working then.

Furthermore, the size of the Ethereum block reached a peak of around 34 KB, which returned in January 2018 and has since been consistently lower than 30 KB. So, it is very clear that there is more space for transactions on Ethereum blocks. This also means that the transaction fees are currently low; so, there's a little bit of block space for extra transaction volume, this is if Dapp usage and numbers increase.

Another measure that can be used on Ethereum's capacity is the price of gas, which is the commission used to initiate the necessary smart contracts, which is essential to make Dapp work.

When we return to January 2018, there was a crisis that was able to drive up the price of gas and was as high as 96 Gwei. But that's not all because there have been many other occasions when the price of gas has increased in July and August of this year to the levels of 86 Gwei and about 57 Gwei respectively.

Consequently, with this type of peaks it is a clear indication that Ethereum is able or are approaching. But gas prices have remained at 10-20 Gwei most of the time since March of this year, including September, and sometimes the price could be even lower. It is a clear indication that there is no persistent gas crisis; in this way, smart contracts can be distributed without the inhibited tariffs, which means that Dapp will be able to prosper.

A better platform perspective

In order to have a more subjective perspective, the use of Dapp fell sharply in 2018. The number of users on the platform fell to around 56% from January of this year; this is according to a study that was done by Diar. And from this, it is a clear indication that there is a wide margin of growth for the current Dapps in the market, and a clear indication that there is also plenty of space for the implementation of new ones on the market.


Source link