Latest scaling News

If-Bitcoin-was-a-family-plan
Business 1 June 2021

If Bitcoin was a family plan

The BSV carrier is effectively offering an unlimited data package. A package likely familiar to actual phone plan shoppers in 2021.

Ethereum transaction fees lead to UniLogin shut down
Business 21 September 2020

UniLogin shuts down due to Ethereum fees

UniLogin has been forced to shut down due to Ethereum's high transaction fees and scalability issues pricing the company out of operation.

<p>Rising fees and scaling issues pose a major problem for the Ethereum network, according to key players in the ETH ecosystem and blockchain researchers.</p>

[caption id= Source: https://ethgasstation.info/ [/caption]

Ethereum transaction fees are too high, with the average transaction fee being $0.46 at press time.

https://twitter.com/VitalikButerin/status/1285593115672358912

In addition, network congestion is beginning to bottleneck the Ethereum network as well as drive transaction fees even higher than where they currently sit. To add insult to injury, the scaling solution that Ethereum protocol developers claim they need to solve these problems appears to be years away. But this experiment they are attempting to scale ETH is just that, an experiment.

Institutions aren’t interested

“I would caution that it [Ethereum] is not a finished product. We are going to try to switch to Ethereum 2.0, but it’s probably 4 to 5 years away, maybe more, from when Ethereum really is at industrial scale,” said Mike Novogratz, CEO of Galaxy Digital. “We [Galaxy Digital] are seeing no institutional money go into Ethereum, we are seeing crypto money go into Ethereum.”

The Ethereum protocol is constantly changing. It has several network updates scheduled that are meant to improve the network as well as help it scale—the major update being the hard fork to Ethereum 2.0. However, the upgrade has been continually delayed and looks like it is several years away at a minimum. 

The scheduled upgrades to its network make it challenging for any enterprise to build its business atop Ethereum, which is unattractive to institutional investors. It’s not possible to build a multi-million dollar business with a protocol that is constantly changing. If the protocol frequently changes, what you built using the protocol last year may be invalid one year down the road.

Why would you build on Ethereum?

Ethereum can’t scale, transaction fees are expensive, and a network bottle-neck similar to the one that took place in December 2017 is on the horizon.

There is no reason to build on Ethereum, especially since Bitcoin (BSV) as originally designed by Dr. Craig S. Wright back in 2009 already scales and can do everything ETH can do and more.

Bitcoin transaction fees are stable and significantly lower than transaction fees on Ethereum. As of press time, the average tx fee on the Bitcoin network is $0.0002. On Bitcoin, there is no block size limit and network throughput has been as high as 6,400 transactions per second. Several enterprises have already built or are currently building their business on Bitcoin because it is cost-effective and stable—two essential elements that enterprises are looking for when implementing a blockchain solution.

https://twitter.com/sassal0x/status/1285307792337727488

Anthony Sassano, the co-founder of ethhub.io, says it himself, Ethereum is not ready for mainstream adoption. What enterprise wants to wait 4-5 years to see if the network can figure out a scaling solution? Why would any serious business build their project on Ethereum? No company is willing to gamble on a potential solution that is not in sight, and no serious business would build on Ethereum—it just doesn’t make sense for them to build on a hobby platform when Bitcoin exists.

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Editorial 28 July 2020

‘Not a finished product’: Ethereum fees and scalability issues cripple network

Rising fees and scaling issues pose a major problem for the Ethereum network, according to key players and blockchain researchers.

Bitcoin SV and the roadmap to Genesis
Tech 17 April 2019

Bitcoin SV and the roadmap to Genesis

Coming soon will be a network upgrade called Quasar, which is currently scheduled for July 24 and centers on increased scaling capabilities.

Bitcoin SV able to sustain blocks above 128MB
Tech 11 March 2019

Bitcoin SV testing shows sustained blocks of 128MB

BSV has once again proven how easy it is to increase the network’s scalability. The Scaling Test Network (STN) has been able to maintain an average block size of 128MB in 24 hours, and an average size of 128MB across 144 blocks.

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