Vitalik Buterin revealed whether the Ethereum update will have "any transaction throughput goals," casting a shadow over network alternatives like EOS, NEO, and Tron.
(https://icotime.ru/wp-content/uploads/2017/10/3-Vitalik-Buterin-Etherium-dogonit-Visa-cherez-2-goda-e1505911705421.jpg)
At a recent conference on cryptocurrency Buterin said:
I have noticed there are many misconceptions. Because honestly, there are a lot of bad crypto projects out there that try to go on a statement - "Oh, because we use a fancy BFT, we can do 5,000 transactions per second, and proof-of-work is only 15."
Buterin argues that consensus is important when it comes to blockchain's ability to process transactions. It continues:
There are many terrible misconceptions. Because the goal of a consistent algorithm is not to make the blockchain fast. The purpose of the agreed algorithm is to ensure the security of the blockchain. Proof-of-Work, it becomes unsafe if the PCs spend more than 10% of the time on the actual analysis and verification of the blocks. Bitcoin-NG, or something like various forms of proof-of-stake, can be secure as long as you don't exceed 10%. But the difference is still very small.
Co-founder of Ethereum and then condemns blackany that made much more aggressive statements about the potential volume of transactions:
When a blockchain project States, "We can make 3,500 TPS because we have a different algorithm, what we actually mean is,' We are a centralized heap of garbage because we have only 7 nodes that are running it all.'"
The last statement is obviously directed at NEO-there are actually only 7 consensus nodes in the network. Although NEO is a blockchain platform for smart contracts, ITS very intention is very different from Ethereum's - this network is not designed to become a "world computer" like Ethereum. NEO also does not have a mechanism for generating new coins.
After some applause, Buterin says there are"good, legitimate ways to make blockchain fast." However, he does not use this as an opportunity to soften the blow to alternative platforms. Instead, it reinforces the pressure by saying that the best ways to make blockchain fast are first and second tier scaling solutions for the bitcoin and Ethereum network. Buterin says:
One of the problems that Ethereum can solve is the delay - the time it takes to reach consensus on the network. Ethereum can get rid of having to wait one minute for average security instead of waiting six seconds.
Ethereum scaling became a hot topic during the ICO boom in 2017 and early 2018. Fees for the transaction and delays have risen sharply during the multiple ICO. The question of whether the Ethereum network can actually handle the increased volume of transactions as a result of the ICO has been raised repeatedly, leading to the development of various scaling solutions, including some involving ERC-20 tokens such as Raiden.
Link - https://altstake.io/news/buterin-neoeos-i-tron---etocentralizovannye-kuchi-musora