The founder of Adamant Capital and the crypto commentator have recently tweeted a broad critique of the entire Ethereum project, which has attracted a little attention. Today, the chief founder and de factor of Ethereum Vitalik Buterin, as well as other important developers have pledged to respond, defending the blockchain of Ethereum.
Tuur Demeester has laid bare a broad critique of Ethereum based on technical, cultural and even legal criticism.
2 / First, the architecture and culture of ETH is the opposite of that of Bitcoin, yet it claims to offer the same solutions: decentralization, immutability, SoV, issue of activities, smart contracts, …
Secondly, the ETH is considered an encrypted "blue chip", hence the color perception of new arrivals not informed.
– Tuur Demeester (@TuurDemeester) December 28, 2018
The first criticism was broad, but his most acute criticisms included the supposedly inability to climb of Ethereum and the security problems inherent in the algorithms proposed by Ethereum, which were designed as a way to create an efficient alternative from the point of view. energy to the test. work algorithms such as those used to protect Bitcoins.
In a Reddit post dedicated to Demeester's Twitter thread, Buterin responded personally, making point-by-point confidences on every Twitter post.
The protests, like the criticisms, are ample, even if the most salient answers are perhaps its defense of the safety of Proof-of-Stake and the potential of the sharding. Sharding is currently the most promising way to downsize Ethereum, which in turn is one of the most important problems of all cryptocurrencies. Cryptocurrencies become hopelessly sluggish while transactions accumulate on their blockchains, which means they have limited application in the real world for a large share of consumers, for example as a payment platform.
Sharding is a technical solution to this problem which, although not complete, has already shown some promises.
Silent but very visible progress on short term scalability @peter_szilagyi echo:
* Blocks are processed quickly
* Uncle's rates fell to ~ 8%, their lowest levels since before 2017 increased by the gas limit, although the use of gas is still at ~ 80% of the peak pic.twitter.com/BeQoP5871m
– Vitalik non-donor of ether (@VitalikButerin) December 23, 2018
Sharding, in simple words, splits the entire network into a series of small "fragments", each with its own chronology and transaction status, allowing computers to calculate the smallest calculations on each individual fragment, while the supercomputers put together the fragments to recreate the biggest blockchain.
Demeester's criticism also raises a problem that sharding has always faced, which is a potential security liability, including the Plasma protocol, which is a specific solution proposed to downsize Ethereum.
Buterin rejects the statement that Plasma is "insecure" as an opinion and not a consensus, saying that "the ethereum research community is quite convinced that the fundamental design of the plasma is valid, and as far as I am understood there are formal tests on the road. & # 39;
The debate is mainly based on many technical considerations that have yet to be resolved, but the fact that Buterin has one answer for each of its points means that these problems are addressed. Demeester rejects Ethereum as a "developing science", but as many Ethereum developers took on Twitter to point out, Bitcoin was similarly experimental in its infancy.
Find out more: Vitalik calls Bitcoin Cash SV "a pure dumpster fire"
Follow Chepicap now chirping, YouTube, Telegram and Facebook!