When the whole world was engulfed ICO-fever, the course of the broadcast were new highs at $1300. Now the market downturn, and the price of the air fell below $200. In the course of the second by market capitalization crypto-currencies affect not only the overall mood of the market, but also domestic problems Ethereum.
Technological dead end
The main problem Ethereum is considered scaling. According to the Director of Blockstream Samson MOU, it is because of this Ethereum went into a technological dead end.
Because of this, Ethereum is actually doomed to failure: the wider it is used the faster it will die. MOU believes that this will happen including due to the fact that the lion’s share of Ethereum accounts for stablon Tether. Therefore, the Commission will continue to grow at a very fast pace, and sooner or later developers will be easier to move to a different blockchain.
Buterin Vitalik, founder of Ethereum, responded to these comments. He noticed the criticism to the fact that the Bitcoin network currently overcrowded exactly the same as the Ethereum network, so nothing critical happens.
MOU sees the difference between the aspects of scalability have BTC and ETH and explained that Ethereum situation worse, because the network is used to compute various data, and it is clearly important to move forward.
Technical problems, such as the transfer of network upgrades, continue to unnerve investors. Update Istanbul, which was supposed to occur October 4, postponed indefinitely due to problems with the processing code cryptocurrency developers do not have time to complete this process.
According to analysts Binance Research, most tokens on Ethereum have no practical value and only load the network.
The most famous competitors Ethereum are considered TRON, EOS, NEO and Steemit, TomoChain and Binance Chain.
TRON have many advantages over Ethereum: high speed transactions (which do not undertake Commission) and can increase network bandwidth as it grows. Virtual machine compatible blockchain with Ethereum network and uses the popular Java language.
Binance Chain attracts those that Binance — largest cryptocurrency exchange, which, according to rumors, refuses in listing the projects, refused to go with Ethereum on Binance Chain.
However, perhaps the main competitor to Ethereum for several years considered the EOS.
EOS uses the popular programming language (C++) allows you to create dApps any size, transactions are not subject to commissions. The EOS blockchain Protocol is used DPoS, potentially scalable to millions of transactions per second, and also have the ability to create smart contracts in any environment that allows to compile code in WASM.
Block.one, developer AT EOS, ahead of Ethereum Foundation in several areas, including:
- Scalability and performance
- Focus on usability
- Attention to the needs of the market
Ethereum Foundation gives priority to decentralization at the expense of scalability. The Approach Block.one opposite. Scalability is not just a feature of a certain system, but a fundamental ideological decision of its developers.
Since its inception, the Fund Ethereum Ethereum Foundation promoted as the “world computer”. However, due to the low performance it can hardly be called such.
Based on a different set of ideological principles, Block.one is positioning the EOS as a viable world-the computer is able to successfully develop from the beginning.
Supporters of Ethereum usually say that this system has gone too far ahead, and any other platform for smart contracts it will not catch up: the network effects, a huge community of developers, brand and integration within the ecosystem are so arranged and so rapidly that it is impossible.
Ethereum — the first successful and, according to General opinion, the dominant platform for smart contracts. However, this network a lot of problems, and critics increasingly point to them.
It is unlikely this means that Ethereum will go into oblivion — but the team needs to try hard to regain the trust of the community and does not allow users go to competitors.
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