Ethereum still not ready for DeFi, say some critics
Ethereum needs to fix its problems. As DeFi projects flock to Ethereum, experts warn the network is not yet ready to support the frenzy.Martin Froehler, a mathematician, former hedge fund manager, and founder of Austrian crypto trading platform Morpher, told Cointelegraph that although Ethereum is the “best thing [the blockchain industry] has” for DeFi, the current capabilities of the network are not enough:“Ethereum can only handle about 15 transactions per second and has a block-time of 15 seconds, which is an eternity in finance. By design everyone interacting with it needs Ether. That....
Related News
Two Ethereum-native DeFi protocols are headed to Binance Smart Chain, but critics doubt the layer-1 has staying power Today, yield aggregator Harvest Finance and multi-service platform Value DeFi — two Ethereum-native decentralized finance (DeFi) protocols accounting for nearly a billion dollars in total value locked between them — announced planned expansions to Binance Smart Chain, the smart contract platform built by crypto exchange giant Binance.Not everyone in the Ethereum community is ready to take BSC seriously, however. Harvest, which is among the largest yield aggregators and....
Many have drawn similarities between DeFi and the ICO craze of 2017, and it’s easy to see why as well. To begin with, both operate(d) primarily on the Ethereum network. However, it’s the flood of fly by night projects that links the two in the minds of many. With that, in recent times, critics have […]
In a cryptocurrency ecosystem where the programmable-money juggernaut has long been Ethereum, Polkadot, a project that has been quietly developing an alternative solution since 2016, is ready to take on the blockchain world.
Former Secretary of the US Treasury, World Bank chief economist and Obama administration economic advisor Larry Summers has weighed in on the subject of digital currency in a new interview with The Wall Street Journal. Though Summers didn't take a definitive stance on bitcoin, he did caution critics not to dismiss new and potentially disruptive technologies. The former Harvard University president told the journal: "I'm not ready to stand with those who are sure they have seen the future here, but it seems to me that it's a serious mistake to write this off as either ill-conceived or....
According to DeFi Llama, the Total Value Locked (TVL) across all networks is closing in at a record $180 billion, with the Ethereum network accounting for the vast majority of this. The data includes valuations from Ethereum, Polygon, Solona, Fantom, Terra, Avalanche, Binance, and other less prominent DeFi chains. Ethereum accounts for $131 billion of […]