Cryptocurrency

Ethereum big problems? Critics see in the future more centralization

Those interested in currencies for Crypto to do with Ethereum (ETH). This is for a number of years and is still valid today. Compared to the years 2016 and 2017, the mood around Ethereum at the Moment, but is only conditionally positive. The decentralized network, with Ether as the Coin is facing major challenges. Problematic especially the scalability to be solved with the next Updates “Istanbul” and “Berlin” to Ethereum 2.0 (Serenity) is. It is unclear currently how the Transition to Ethereum 2.0 will be like. Some critics are of the future of ETH Zurich as a result quite so positive.

Ethereum is currently under pressure

Ethereum is wähungen the current number 2 of all the Crypto behind Bitcoin, with a market capitalization of nearly 20.5 billion dollars. Other Numbers have the Token currently relatively stable: the price is approx. US $ 190 at the time of the publication of the article. It is also interesting that the ETH with a daily trading volume of 8.9 billion US dollars, the 3. Place in the Ranking of the most traded Coins is.But some may say that appearances can be deceiving. Ethereum launched a few years ago as an innovative Smart Contract platform, and was one of the ICO Boom of 2017 to the Top winners in the Crypto-field. But in the meantime, the happy to as a “decentralized world of computer” designated project has some competitors also jumped on the Blockchain application the case of “Smart Contracts” and ETH on the pressure. The solution to the current challenges system is so critical.You want to be one of the world’s leading CFD brokers act? We have for you in our Plus500 Test all of the knowledge about values is collected and written down, where here are the pros and cons are. Just have a look on the Test or see for yourself and join today at Plus500.

Criticism of centralization is already known for a long time

If you look at the Blockchain and crypto-currencies a look at clear: both applications as money or store of Value serves to decentralise. A centralized crypto currency or Smart Contract platform therefore makes only limited sense. So Ethereum has to fight, in contrast to crypto – currencies like Bitcoin, again and again with allegations of centralization. Reasons for this are: the founders are very well known and populer. Thus, as the Central figures, events and developments. Also with the upcoming introduction of PoS, and thus Staking the danger of centralization will increase.The point of criticism of centralization is, therefore, in the case of Ethereum known for some time. So ETH will always be controlled again accused by Vitalik Buterin and other Core Developer to. A well-known Bitcoin developer named “Tuur Demeester,” to comment on the Posts of Buterin now on the occasion of its renewed criticism of ETH.You have to read everything and want to still not miss anything? Then sign up now for our weekly Newsletter and be always Up-to-date. Get easy access to all relevant News about Bitcoin & Crypto, Blockchain, Meetups, and news within our Community by E-Mail – summarized and clear. Subscribe to the Newsletter now.

Bitcoin developer takes ETH to target

Tuur Demeester has been known to Twitter to Express his critical opinion on Ethereum. In December 2018, Demeester, has launched a 50-part Post series, in which he cites reasons why he sees ETH as critical.

Now the developer did his mind again and said in a Post that Ethereum “in time, will become a Central and dysfunctional”. The occasion he took 4 Posts which he defended his Statement. In one of them, Vitalik Buterin is expressed indirectly, to the decentralization of the network, what Demeester and others, led to his critical statement. In the Post of Buterin says:

The idea is that average user to validate the entire history of the system, personally, is a strange Miner-fantasy.

Want to Buterin say that a maximum subtle dimensionality in the case of Ethereum, is not at the time of each participant of the network transactions validated at all desirable and possible? As the Statements made by Tuur Demeester show, this is a possible Interpretation. Nevertheless, Ethereum is not written down for a long time, because the current challenges might be, if they are solved, also for the fuel for a new Ethereum course rocket a la 2017.What is your opinion of Ethereum? Do you think the Updates could be carried out successfully?Come in to our Telegram Chat and talk with the experts and the Community. Subscribe to our News channel to not miss any News. (Image Source: Shutterstock)

About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.