Ethereum is inherently Unstable with a Huge Implementation risk
The Ethereum price could be soaring, but a critic is now poking holes in ETH theories.
Here are 7 reasons I am not optimistic about Ethereum’s long-term future.
#1. It is not immutable and can be censored. The developers can roll back transactions and change the rules whenever they want. They can also be pressured by others – such as governments.
— Nick Giambruno (@NickGiambruno) April 30, 2021
Citing the platform’s ever-shifting and evolving development nature, he said the network—despite its mass following-is inherently unstable and not built on a workable finish product.
He also dismissed talks of decentralization, saying Ethereum relies on its prodigy founder, Vitalik Buterin, and its core developers.
Accordingly, while there are plans to make ETH scarce in the long term, its total supply has no lid and can be changed at any point in time.
Additionally, from an infrastructural level, a big part of the network operations rely on Infura that instead runs on the Amazon Web Service (AWS).
If this critical portal is downed, the Ethereum network could suffer a significant service disruption.
Therefore, even if JP Morgan says ETH could flip Bitcoin, he remains firm on BTC. He concludes that Bitcoin is founded on firm ground, functioning as a hard monetary system with a crystal clear use case.
IOTA Phase-2 Launches
Chrysalis Phase 2 of IOTA—a blockless DLT network, is now live, migrating over $1.2 billion of assets.
The upgrade, which is arguably the most extensive enhancement in the network’s history, is designed to make it enterprise-ready. Chrysalis has been described by the co-founder, Dominik Schiener, as the “best version of IOTA.”
Let’s talk about improvements:
The size of a simple transaction in the new #IOTA network has been reduced from 3500 bytes to only 275 – that’s a 92% reduction! So transactions are processed faster using less energy. pic.twitter.com/pV5KbqkOC7
— IOTA (@iota) April 30, 2021
Among some of the improvements made include block reduction that makes processing faster and more efficient. Other features include reusable addresses, UTXO, and readiness for key application layers.
Crypto Current will be guiding all of you who are new to the cryptocurrency world to becoming a cryptocurrency and blockchain expert. Crypto Current was founded to give access to information to everyone on current events occurring in cryptocurrency and blockchain in a digestible way. Since its creation, we have created content that impacted thousands of people through its podcast, blog, and social media.