Business News Vitalik Buterin criticized Elon Musk's approach to DOGE scalability

Vitalik Buterin criticized Elon Musk’s approach to DOGE scalability


- Advertisment -

Ethereum co-founder Vitalik Buterin published a lengthy article in which he criticized Elon Musk’s simplistic statements about the scalability possibilities of Dogecoin.

As we know, on May 15, the CEO of Tesla had published a tweet in which he stated “the ideal is for DOGE to speed up the time of the blocks 10 times, increase the size of the blocks 10 times and reduce the rates 100 times. Then I would win handsomely”.

In response, on May 23, Buterin published on his blog a lengthy article which he called “The Limits of Blockchain Scalability,” in which he objected to Musk’s approach, noting that it is a “fundamentally flawed” approach.

According to what decrypt reported, the renowned programmer pointed out that increasing the parameters can seem very attractive if they do calculations on a napkin, but there are many factors to consider about the balance between decentralization and scalability.

According to Crypto news, Buterin also indicated that fragmentation can facilitate scalability like that offered by centralized chains. However, it emphasizes the importance of decentralization to reduce the different risks.

“We don’t know what the exact threshold is at which herd immunity against coordinated attacks kicks in, but one thing is absolutely clear: more good nodes, fewer bad nodes, and we definitely need more than a few dozen or a few hundred. ”He asserted.

Buterin also pointed out that the main “bottlenecks” for users to run the nodes contributing to decentralization are computing power, internet connection bandwidth and storage capacity.

It is worth mentioning that Buterin’s detailed explanation was answered with a meme by Tesla’s Technoking, who suggested that the main Ethereum benchmark is “afraid” of the growth potential of the Dogecoin network.

Will Ellon
Will Ellon is a The Advertiser Mirror correspondent who covers politics, business, money, lifestyle, games, movies, technology and worldwide news. Will is a talented guy of 23 years old who lives to write for the people about news, opinions and reviews.

Latest news

Does the Netherlands declare war on Bitcoin?

A Dutch government official argued that digital currency "does not fulfill any of the three functions of money and is practical for criminals."

Someone paid $28 million to travel to space with Jeff Bezos

The traveler beat about 20 rivals in an auction that began on May 19 and whose last 10 minutes were broadcast on television.

The Covid-19 pandemic has encouraged child labor in Latin America

Some 8.2 million minors, between the ages of 5 and 17, work in Latin America and the Caribbean, a region that is "far" from eradicating this child activity due to the pandemic.

A estimate that global oil demand will stabilize by the end of 2022

Global oil demand is recovering at a strong pace this June and that trend should continue in the coming quarters, according to the International Energy Agency (IEA).
- Advertisement -

Bitcoin can’t break through $38,000, a key step in attempting a new shot

The main cryptocurrency is trading around US $36,000 this Saturday, after a week marked by instability.

Which countries top the ranking of earnings through Bitcoin

The blockchain company Chainalysis made an estimate of the profits obtained from Bitcoin transactions in 2020 according to the nationality of the investors.

Must read

- Advertisement -

You Might Also LikeRELATED
Recommended to you