Ethereum's co-founder said the switch to a proof-of-stake blockchain is just the beginning — and the upgrade will transform how this technology is used.During his keynote speech, Buterin shared a graphic that showed the median income of four countries, and how it compares with current ETH transaction fees. While typical take-home pay in Canada is $113 a day, it stands at $16 in Mongolia and $4 in Zambia.
His impassioned argument could be interpreted as a rebuttal to those who believe that Ethereum should remain as a Proof-of-Work blockchain, and he warned that "fees are going to go crazy again" in a future bull market. "Scalability is also a problem that we've been talking about, we've been complaining about, we've been thinking about how to fix… pretty much since the beginning of the Ethereum project and even before the chain launched all those years ago."
This would be coupled by efforts to compress data in rollups — "trying to pack a much larger number of transactions into a much smaller amount of space so that we just get a big scalability gain for free."Elsewhere in his keynote speech, Buterin also challenged the notion that the centralization provided by Web2 giants is necessary because of how they can help users regain access to accounts they've been locked out of.
"You can make whatever choices you want. You can say 'I'm going to have five recovery contacts. Two of them are going to be an institution, one of them can be an employer, one of them can be my dad, one of them can be a friend.'"
Source: Digital Coin News (digitalcoinnews.net)
What happens with hype when miners start to sell/dump all earn eth from mining, they are out off work from 9.15.2022
smh.
Lol. “Blockchains”.
exactly why SOL will overtake in 5 years
Having the same concerns, that’s why i am using IOTA 🙌🏻 But as always: Don’t forget to DYOR guys, not just follow the hype!
$VET it is!
All you need to know
0$ fee seems affordable to me.
Merge with IOTA
Good job ultra_io blockchain is free to use, watch this space
It’s not too late to join Cardano:D
All its concerns are already addressed and solved ⚙️🛠️ by the ecosystem of the future ElrondNetwork ⚡🚀🔥❤️, go DYOR.
fix ur fukn problem-.. since weeks ur site looks like this this bug was first time in 2021... then u fix something all was fine.. now since weeks it is back...
They've enjoyed their first to market run by paying of regulatory bodies via the Etherium foundation, but it seems that business model is no longer sustainable. Cardano and Flare are coming for ya
It's not 'Blockchains' that have this problem, it's $ETH. Over at Avalanche that problem has already been resolved.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Cointelegraph - 🏆 562. / 51 Read more »
Source: CoinMarketCap - 🏆 290. / 63 Read more »
Source: CoinMarketCap - 🏆 290. / 63 Read more »
Source: Utoday_en - 🏆 295. / 63 Read more »
Source: nbcsandiego - 🏆 524. / 51 Read more »
Source: CoinMarketCap - 🏆 290. / 63 Read more »