Ethereum Blockchain Is Almost Full: Vitalik Buterin On Scalability

Ethereum blockchain is almost full according to the founder of the cryptocurrency Vitalik Buterin after he stated the fact in an interview with the The Star published earlier today and now we read more about it in the coming altcoin news below.

Buterin was talking about scalability and he outlined the hurdle that the big organizations which are interested in the Ethereum ecosystem are still a very important matter of blockchain’s scalability. The comments he made were a part of the discussion of what he believes is the biggest roadblock to the massive adoption of cryptocurrencies. He stated:

 “Scalability is a big bottleneck because the Ethereum blockchain is almost full. If you’re a bigger organization, the calculus is that if we join, it will not only be more full but we will be competing with everyone for transaction space. It’s already expensive and it will be even five times more expensive because of us. There is pressure keeping people from joining […]”

By improving the issue of scalability it would only bring down the costs by a factor of more than 100 as Buterin claimed. While the security is to some extent sacrificed by moves like these ones, the compromise would be fairly modest in his words.
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Beyond scalability improvements and other advances in a technical sense, Buterin noted that the challenge still remains of transforming blockchain technology into something that people will use on a day to day basis.

When he was talking whether the ethereum blockchain is almost full he also argued that the future of cryptocurrencies and crypto, in general, is pluralist and revealed that he is very open to the idea of hybrid solutions that involve both Ethereum and bitcoin as the two most used and most popular cryptocurrencies. Buterin clarified his stance in response to a proposal to implement the Bitcoin Lightning network as an interface for his Ethereum contracts and to also enable instant payments in Bitcoin while in the same time still triggering a series of events on his own cryptocurrency or any other chain. Back in July as it was reported in some of the best cryptocurrency news sites, Buterin proposed using the Bitcoin Cash blockchain as a temporary scalability solution for the ethereum network but this still hasn’t implemented.