“Ethereum Will Eventually Achieve 1 Million Transactions Per Second”

in eos •  15 days ago


“Ethereum Will Eventually Achieve 1 Million Transactions Per Second” @Mike_K_Spencer https://medium.com/@Michael_Spencer/ethereum-will-eventually-achieve-1-million-transactions-per-second-dbdfc84772c7

I found this article on Medium this morning about how Ethereum will eventually reach 1 million transactions per second. I found it a bit ridiculous that they go into how they are going to achieve scalability like sharding, raiden network, and plasma. The author completely avoided one of the main points of the video. If you go to 14 minutes and 21 seconds, the person interviewing Vitalik asks " how far along are we to replacing Visa and AWS". After stumbling on his words, Vitalik responds with "I'd say a couple of years". The author obviously avoided that topic because it makes Ethereum seem extremely far behind compared to EOS and other blockchain 3.0 projects which have already launched their mainnets. You can check for yourself how unusable Ethereum is currently (and apparently for the next few years) by going to http://blocktivity.info/ and seeing that Ethereum is at 100% capacity with over 18,000 transactions that have not been confirmed. EOS just launched and is already the 5th most used blockchain. It's only at .01% capacity. Another important thing to mention is that when Ethereum is at 100% capacity, the gas prices usually go up several times. EOS has free transactions so transaction fees will never be a problem. Once EOS incorporates inter-blockchain communication, it will be at millions of transactions per second while Ethereum will be at thousands per second.

The author of the article disabled comments for whatever reason. I'd like to know what your thoughts and comments are regarding the article and video.

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