Review on Ethereum by Wisdom BOATENG
A project with great potential
Ethereum is for me one of the great innovations of the blockchain industry. The second cryptocurrency in terms of market capitalization, it allows the creation of smart contracts and decentralized applications. It is at the origin of ERC-20 cryptocurrencies and many ICOs. Projects like ethereum have allowed us to discover the power of the blockchain. For its creator, the blockchain can serve beyond a simple financial transaction. Thus there is used for many decentralized finance applications, for blockchain games.
The success of ethereum quickly highlighted its weaknesses such as the lack of scalability of the network causing in the near future the birth of ethereum 2.0 which will be a game-changer by combining decentralization, security, and scalability of the network.
Updated 3 years ago
Rating changed from 5 to 4
The Ethereum network to meet demand, migrates to Ethereum 2.0 which wants to be decentralized, ultra scalable and much less expensive. At the launch of the Ethereum 2.0 deposit agreement on November 4, 2020, ETH holders around the world rushed to stake the 32 ETH required to be able to run a validator node, and receive its future rewards!
On December 1, the network had gathered the ETHs necessary for the launch of the beaconchain. Since then, new validators have continued to flow, bringing together more than 2.1 million ETH deposited to date, or more than $ 1.5 billion, propelling the price of the token to more than $ 1,000. As I say, the ethereum project is undervalued, ethereum 2.0 will bring to the project its real potential for success. Blessed are those who have ethereum
Pros
- A strong community also committed
- Transparency, decentralization, the resilience of decentralized applications created on the network.
Cons
- Vitalik Buterin constitutes a danger for the project, this brilliant developer is an essential leader in the development of the project.
- Lack of scalability
- A robus programming language.
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Comments (1)
June 06, 2020
I really agree that its lack of scalability and it is very slow for Dapps yet the fee is expensive. For some Dapps , it is a disaster because the ethereum wont scale up very soon, i have seen a lot of dapps migrated to eos platform because of this issue
