One of the most famous Ethereum founders, Vitalik Butirin, has refuted Elon Musk’s fixing the cryptocurrency in a new paper, where he details the limits of blockchain scalability. Buterin touches three topics: storage, bandwidth, and computing power, commenting on their limitations with today’s technology.
Vitalik Butyrin criticizes Elon Musk’s simplified take
Vitalik Butyrin, the founder of the second most successful cryptocurrency (Ethereum), yesterday criticized Elon Musk for fixing cryptocurrency by taking up some key aspects. In a new paper titled “The Limits to Blockchain Scalability”, Butyrin sends Elon a pair of jabs, asking in its first paragraph:
Are you really like Elon Musk Wants, “Speed up block time 10X, increase block size 10X and drop charges 100X” What is the blockchain that builds up without leading to excessive centralization and compromising basic properties?
Buterin, which has always been Worried About to adopt blockchain, then continue to expand these ideas into the paper. He said that one of the most important factors for blockchain defense and decentralization is the possibility of normal users running the node (it has already raised a round of criticism from some users in the larger block community, and is in contrast to other approaches such as An olivier jensens has Expressed Since 2017). For that, there are only three fundamental factors that can affect end users’ ability to run nodes: storage, bandwidth, and computing power.
The paper describes how these three factors should be configured and their recommended value if the objective is a properly functioning blockchain. For storage, this indicates that where 8TB SSD is available, it is not an acceptable size for most users, with 512 gigabytes in the upper limit.
Regarding bandwidth, although already very fast connection speeds are available, this suggests that the limit is about five megabytes of block every ten seconds because nodes also need to save bandwidth for protocol overhead and transaction transmissions. And for computing power, the paper states that there should be a ten percent limit of a computer’s maximum capacity because nodes need to conserve power in order to withstand DDoS attacks and fewer outages.
Oyster fire back
The paper constitutes a technical reprimand for what Musk did. as proposed Last week when he tried to address scalability in a simple way. Musk proposes to fix his cryptocurrency pick Dogcoin to be the next scalable currency for the world. He offered to fund the development and help current Dogecoin programmers make the behavior of the currency more energy efficient.
Musk didn’t wait too long to strike back at this technical answer for his own purposes: Tesla’s CEO had fun saying that Butirin feared Doge, while Entry A meme featuring Sheeba Inu dog in the classic poster of Jaws Movie on Twitter.
What do you think about Buterin’s last paper? Tell us in the comments section below.
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