3 min de lectura
Ethereum: Will the bitcoin blockchain eventually grow too large to be able to be run ‘by anyone’?
CRYPTOCURRENCY
Will Ethereum’s scalability limit his future as a decentralized blockchain?
Being the largest cryptocurrency in the world by market capitalization, Bitcoin has long been the gold standard for decentralized applications (DAPPS) and blockchain -based projects. With its decentralized nature and the Open-Source code, Bitcoin has allowed a wide range of innovative use cases that have transformed how we interact with each other and carry out transactions. However, as Ethereum continues to evolve and expand his capabilities, concerns about his basic blockchain’s scalability limitations.
Descentralization is essential for the success of Bitcoin
In its center, decentralization is what makes Bitcoin so unique and attractive. The decentralized nature of the network allows it to function independently of the central authorities, providing users control over their own transactions and data. This is a fundamental aspect of Bitcoin value proposal: as long as there are no centralized intermediaries or entities that control the flow of funds, blockchain remains a safe, transparent and manipulation resistant system.
challenges of scaling
While decentralization is essential for Bitcoin success, it is also significant challenges for its scalability. The current consensus algorithm used in Bitcoin, the proof of work (POW), has limitations when it comes to processing large volumes of transactions. This leads to slow transaction times, high taxes and lack of real-time payments are major obstacles for many users.
To overcome these limitations, Ethereum explores alternative scaling solutions. The most noticeable is the ETHREUM 2.0 upgrade, also known as Serenity, which aims to pass the network to an algorithm of consensus (POS) and to increase its scalability through more efficient processes for validating transactions. However, this update has a few more years before it can be implemented, leaving many users with a waiting and view approach.
Ethereum’s Ethereum’s scalability challenges
While updating 2.0 of Ethereum is an interesting development, it raises significant questions about network scalability. With each block that requires about four minutes of calculation power to check the transactions (a relatively small fraction of the time required for Bitcoin to process a single block), the current consensus algorithm can become congestified and slow.
Moreover, the Ethereum’s work mechanism (POW) is based on mining, which requires significant energy consumption and has been criticized for its impact on the environment. The increasing difficulty in solving complex mathematical problems for validating transactions is also expected to slow down the network.
The future of Blockchain scalability
Because Ethereum continues to develop and improve its scaling solutions, it is essential to consider the wider implications on the adoption of blockchain. While some developers can choose to build their applications on ETHERUM, rather than Bitcoin, due to scalability problems, others see the potential benefits of using a decentralized platform with significant scalability.
In recent years, projects based on blockchain such as Polkadot and Solana have shown impressive scalability capabilities, demonstrating that it is possible to create scalable blockchain networks without compromising decentralization. As the Blockchain ecosystem continues to evolve, we can expect to see more innovative solutions that balance scalability with decentralization.
Conclusion
While decentralization Bitcoin is a fundamental aspect of its success, the challenges that the scalability limitations present are significant and far from being resolved. However, as Ethereum continues to innovate and improve their scaling solutions, we are likely to see an increasing number of users who translate their applications to this platform.
