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Ethereum (ETH) ecosystem has been receiving condemnations from users in recent time. Before EOS and Tron (TRX) decided to exit the ERC20 network, the network received uncountable lashes from users and a large number of crypto observers.
Few days back, Afri Schoedon, an Ethereum developer at Parity, warned blockchain app developers to stop deploying DApps to Ethereum distributed app ecosystem because it is running out of capacity.
He said: “Please Stop Deploying D-Apps To Ethereum (ETH). We Are Running At Capacity”
While proffering alternatives to Ethereum network, he said: “Use $ETC, $POA, or whatever else is available and bridge important stuff, these networks have plenty of capacity and are well supported by MyCrypto, MetaMask, etc.”
Counter Reply To His Comment About Ethereum By Vitalik Buterin
Vitalik Buterin, co-founder of Ethereum could not hold the heat. He disagreed vehemently, citing that most DApps have lots of room to gas-optimize.
He said: “Disagree. Most dapps have lots of room to gas-optimize, and even if *you* don’t your dapp running raises gas fees and pressures *others* to gas-optimize. There’s *plenty* of low-value spam on chain. And everyone should be looking into layer-2 solutions.”
He added that, “And there are layer 2’s without data availability tradeoffs or liveness requirements, eg. tx mass-validation via ZK-SNARKs can reduce costs to < 1000 gas per tx if done well. That’s ~500 tx/sec on-chain with all the security guarantees of on-chain.”
On Afro’s Comment On Ethereum (ETH)
Afro’s recommendation is not new to the space, several users of the network have condemned its poor state, while some even guessed the whole Ethereum would die any moment.
Around May, due to explosive growth, Ethereum DApps captured more than $7.5 million USD across 500 different applications and 11,000 users within 24 hours.
The surge resulted in massive congestion, which later caused doubled gas fees. Going by Dapp Insight, over 10,000 ETH was transacted during the time, and around 14 million GAS was consumed.
Renowned Economist Nouriel Roubini Condemns Ethereum
Nouriel Roubini, a renowned economist and a professor at Stern School, has pointed recently that the reduction in value of Ethereum emanated from its lack of functional decentralized applications (DApps).
According to him, “No wonder Ethereum is collapsing. 75% of DApps are crypto-kitties, scammy Ponzi pyramid schemes & Casino games. The other 25% are DEX that no one uses as 99% of transactions are on centralized exchanges. & 99% of crypto-currencies have already lost 99% of their value.”