Vitalik Buterin Submits Bitcoin Cash Integration Proposal For Scaling Ethereum As Temporary Fix
Vitalik Buterin, the ace crypto enthusiast behind Ethereum recently proposed the use of the Bitcoin Cash blockchain as a temporary scalability solution for the Ethereum network. The writer/programmer introduced a summary of the idea in a July 13 post on the Ethereum Research.
A Major Improvement
In line with the latest development, the Ethereum network has been working on the Ethereum 2.0, which is a major upgrade that is expected to improve its scalability as soon as ETH moves from the proof-of-work to the proof-of-stake algorithm.
Since the first stages of the Ethereum 2.0 will not be ready until 2020, Buterin is now looking towards deploying other blockchains as a new option for improving Ethereum scalability in the short term.
Buterin is thus the confidence of the new concept, stating that Bitcoin Cash is the best fit for the purpose, as the hard fork cryptocurrency provides a data throughput of close to 53 kilobytes per second, as opposed to the 8KB that is available on the Ethereum network.
Other Tangible Reasons
The Ethereum co-founder additionally stated three other reasons for using Bitcoin Cash, they are; the low fees that it commands, the readiness of the necessary machinery and its community’s openness to people using the blockchain for whatever they want as long as they pay the transactional fees.
On the other hand, he maintained that Bitcoin Cash’s 10-minute block time is a major impediment to becoming a good Ethereum scalability solution. But poured cold water in the fire, stating that the problem can be solved by zero- confirmation payments using techniques like Avalanche pre-consensus.
Social Media Reacts
The cryptocurrency social media family responded swiftly, with many commentators expressing their views on Twitter, with some saying that the new move could spell doom for both platforms, as both could collapse at the same time.
Furthermore, Francois Pouliot, who is the co-founder of blockchain consulting firm Catallaxy tweeted that the recent development by Ethereum justifies the earlier assertion that the Ethereum project is nothing but a failure while maintaining that the integration of Bitcoin Cash will just delay and unsolved scalability crisis.
Other social media commentators on the issue shared various degrees of diversified opinions, but the other half of Buterin in the Ethereum project Joseph Lubin maintained that Ethereum has already scaled quite significantly.
Vitalik Buterin has traveled around the world, urging different governments to limit the ban on cryptocurrency and create more pro-cryptocurrency policies. Bitcoin Exchange Guide reported in March that the Ethereum co-founder was available at the National Assembly in Seoul when some lawmakers presented a viable argument on why the government should easily look at the possibility of limiting the damming regulations on Cryptocurrency in the country.
South Korea is one of the strongest countries on the continent, but cases of fraud and crypto scam have forced the government to place a law or two on crypto activities in the country, but some lawmakers are urging the government to fight the criminal elements while enacting pro-crypto laws within the country.