Even with Ethereum 2.0 underway, L2 scaling is still key to DeFi’s future
By incorporating scaling solutions, such as rollups and sidechains, Ethereum has the potential to implement the true vision of DeFi. The Ethereum network has come a long way over the last few years. Everything from the rise of decentralized finance (DeFi) to the recent London upgrade has made the network the most compelling attempt to instill a ‘world computer,’ but there’s still work to be done. For global adoption to be the backbone of Web 3.0, the network will need the benefits that the Eth 2.0 upgrade promises to offer. However, to scale for a new wave of decentralized applications....
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Scaling solutions sometimes come at the cost of decentralization. Most of DeFi's potential scaling options come at the cost of decentralization, according to Kosala Hemachandra, founder and CEO of crypto wallet solution MyEtherWallet. "From a perspective of fully decentralized blockchains, there's no blockchain that has a good enough scaling solution to support this many transactions," Hemachandra told Cointelegraph in an interview. "When you think from that perspective, Ethereum is the best solution out there."DeFi has boomed in 2020, with Ethereum arguably being the top choice for most....
FTX’s Sam Bankman-Fried doesn’t believe Ethereum will be able to provide the scaling capabilities required by the DeFi sector in future. FTX exchange co-founder and CEO Sam Bankman-Fried believes Ethereum (ETH) is incapable of handling decentralized finance’s (DeFi) growth.Talking to Camila Russo from the Defiant Podcast, Bankman-Fried says that the Ethereum blockchain is limitin DeFi’s development and the only way around it is to build on other networks:“At some point, it’s just clear that we weren’t getting around that. Either, we're going to build it on Ethereum, or we are going to....
Aron van Ammers, Chief Technology Officer and Founder of BlockStars.io, visited the first day of the Ethereum Devcon1 and gave Cointelegraph his view of the most important problems, discussed there. We give you the text as it is. The focus of the first day of the fully booked Ethereum Devcon1 was focused on research: the future of Ethereum and related technologies. The current live version of Ethereum Frontier, is an early version of Ethereum 1.0. The focus of today's sessions was Ethereum 2.0 and beyond. The 300 attendees of Devcon1 immersed in ideas about what is yet to come. If Ethereum....
The social media firm will dedicate developer resources to support scaling efforts for Ethereum.
Is it possible that Ethereum will start facing issues with scaling and governance like bitcoin once it becomes big enough? Bitcoin block size and scaling issue can easily win the debate of the year award if there is anything of that sort. Now, the next best thing in the crypto industry is Ethereum. Ethereum is another crypto-platform for creating blockchain-based applications and smart contracts. Even though Ethereum was not originally designed to be a currency, it has become one due to an increase in its demand, causing its value to soar. Compared to Bitcoin, Ethereum is still in its....