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Vitalik Buterin Criticizes Elon Musk's Idealistic Take on Cryptocurrency, Details Limits on Blockchain Scalability – Bitcoin News
Vitalik Buterin, one of the most renowned Ethereum founders, has rebuffed Elon Musk’s take on fixing cryptocurrencies in a new paper where he details the limits of blockchain scalability. Buterin touches on three subjects: storage, bandwidth, and computing power, commenting on their limits with today’s tech.
Vitalik Buterin Criticizes Elon Musk’s Simplistic Take
Vitalik Buterin, the founder of the second most successful cryptocurrency (Ethereum), criticized yesterday Elon Musk’s take on fixing cryptocurrencies just by raising some key aspects. In a new paper titled “The Limits to Blockchain Scalability,” Buterin sends a pair of jabs to Elon, asking in its very first paragraph:
Can you really, as Elon Musk wishes, “speed up block time 10X, increase block size 10X & drop fee 100X” without leading to extreme centralization and compromising the fundamental properties that make a blockchain what it is?
Buterin, who has always been worried about blockchain adoption, then goes on to expand these ideas in the paper. He states that one of the most important factors for blockchain defense and decentralization is the possibility of normal users to run a node (this has raised already a round of critics from some users in the big block community, and contrasts with other points of view like the one Olivier Janssens has expressed since 2017).
www.newsworldexpress.com/2021/05/24/vitalik-buterin-criti...
Vitalik Buterin Criticizes Elon Musk's Idealistic Take on Cryptocurrency, Details Limits on Blockchain Scalability – Bitcoin News
Vitalik Buterin, one of the most renowned Ethereum founders, has rebuffed Elon Musk’s take on fixing cryptocurrencies in a new paper where he details the limits of blockchain scalability. Buterin touches on three subjects: storage, bandwidth, and computing power, commenting on their limits with today’s tech.
Vitalik Buterin Criticizes Elon Musk’s Simplistic Take
Vitalik Buterin, the founder of the second most successful cryptocurrency (Ethereum), criticized yesterday Elon Musk’s take on fixing cryptocurrencies just by raising some key aspects. In a new paper titled “The Limits to Blockchain Scalability,” Buterin sends a pair of jabs to Elon, asking in its very first paragraph:
Can you really, as Elon Musk wishes, “speed up block time 10X, increase block size 10X & drop fee 100X” without leading to extreme centralization and compromising the fundamental properties that make a blockchain what it is?
Buterin, who has always been worried about blockchain adoption, then goes on to expand these ideas in the paper. He states that one of the most important factors for blockchain defense and decentralization is the possibility of normal users to run a node (this has raised already a round of critics from some users in the big block community, and contrasts with other points of view like the one Olivier Janssens has expressed since 2017).
www.newsworldexpress.com/2021/05/24/vitalik-buterin-criti...