- There’s been some significant controversy going on in the crypto space these past few weeks.
- The Ethereum network has been in the limelight of some of the criticism over the past 12 months.
There’s been some significant controversy going on in the crypto space these past few weeks. Looking in every single corner, you can see one kind of you can see some kind of criticism going on. Whether you’re looking at BCH or XRP, things don’t seem to be going cryptos way. The Ethereum network has been in the limelight of some of that criticism over the past 12 months. Specifically, this is in regards to the proposed migration to the updated Ethereum 2.0 chain. The next generation of blockchain will include a massive change to the algorithm used to validate transactions. The change will be from proof-of-work to proof-of-stake.
This decision alone has seen some significant controversy come from the social side of crypto. Many commentators have used Twitter as a way to voice their thoughts on the matter.
When you compare it to bitcoin, Ethereum is significantly better in terms of scaling. That’s how the platform was originally pitched anyway. However, it seems that it wasn’t able to live up to the all the hype. Many of its proponents have been disappointed significantly due to its lacking.
In a tweet posted towards the end of 2018, Adamant Capital’s Tuur Demeester was very vocal on his thoughts on the matter. He said, “most Ethereum founders always claimed to believe in the scalability of the platform.” he further added that they were only confessing to ‘duplicity’ when it comes to selling Ethereum 2.0.
Despite this, blockchain still has a wide range of support from all over the world. Whereas it still has its flaws, it still has a lot of positives going on within its network. Many people believe that the network is long-standing.
It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!