Congestion On The Ethereum Network Increases As Pending Transactions Exceeds 90K Mark
As per vital info sourced from Etherscan.io, Ethereum, one of the world’s premier blockchain ecosystems, is currently facing a lot of data congestion as well as scalability issues— due to which the network currently has over 90K pending transactions.
What’s Really Happening?
According to several media sources, the Ethereum blockchain is now faced with a burden of more than 90K pending transactions. Not only that, according to EtherScan, this number seems to be growing rapidly (with no respite in sight from the ETH dev community).
If that wasn’t enough, it also appears as though despite all of the rising new addresses within the ETH ecosystem, the overall transaction activity on the network has actually decreased. To be even more specific, data obtained from Searchain.io, shows that even with the number of new and active ETH addresses increasing by 8.24% and 5.56% respectively, the total influx of transactions on the ETH blockchain has decreased by 16.85% (while the outflow of transactions has dropped by 14.04%).
ETH’s Scalability Concerns Continue To Linger
As mentioned earlier, the Ether network is currently experiencing problems related to scalability (with many ICO projects and Dapps moving away from Ethereum in favor of other alternatives). In this regard, decentralized ecosystems such as EOS, TRON seem to be offering developers with more exciting prospects since they not only allow for a higher TX throughput, but they also make use of other functional modules that are more user friendly.
For those who may not remember, over the last week or so, it was reported that established Malaysian exchange ‘PinkExc’ had decided to switch from the Ether blockchain to Stellar since the executives thought that Stellar was “faster, cheaper and came with a more reliable asset value transaction token”.
In a similar vein, crypto collectible game, Blockchain Cuties also said goodbye to the ETH network in favor of TRON’s Mainnet. The reason given was that Tron provides users with “better scalability and speed” when compared to ETH.
It now remains to be seen how Vitalik and his team take up these challenges and make their blockchain ecosystem not only more scalable but also more competitive (moving forward).