New Ethereum Scalability Solution On The Horizon
Ethereum could be the world's leading blockchain platform but it's far from being perfect. It has major scalability problems that prevent it from being widely adopted. Fortunately, developers are working around the clock to improve scalability and finally give dApps and digital tokens the speed they deserve. During a recent meeting, they proposed the rollout of “Ethereum 1x” but there were no further details disclosed. Interestingly, the co-founders of Ethereum Vitalik Buterin and Joe Lubin have both attended the mysterious rendezvous. Reportedly, there are already three groups working on the new solution, each of which focuses on different tasks. One group should build an entirely new smart contract mechanism, which should replace the current Ethereum virtual machine. The second group should generate ideas and propose smart contract changes, while the third one is entitled to test proposed changes and ultimately review them. The chances are those working groups are on a hunt for a brand new proof of concept and if we are lucky enough they will come up with something worthy is the following months. The better part is that the small group of Ethereum developers is willing to attract more programmers in the initiative and thus boost further research in the field. Supposedly, there is an upcoming conference that should shed more light on the whole project. Notable, the people behind the initiative are making sure every move they make is publicly available as in recent months critics have been piling up claims that the Ethereum governing body is shying away from decentralization. However, there are rumors that Vitalik Buterin is not yet certain Ethereum needs core changes. Some of the key points hint that he fears the network is going to get much more centralized if developers initiate private calls and private forum. The problem is that decentralized apps that rely on large transaction volumes are practically unusable when built on Ethereum simply because the network does not scale well. However, if developers overcome this major obstacle we may finally see Ehtereum take on the world. Do not confuse “Ethereum 1x” with other scalability solutions such as sharding, Proof-of-Stake, and Serenity. Read the full article













