Vitalik Buterin proposes Ethereum Classic blockchain as criticism over considering BCH grows


Ethereum ran into scalability difficulties, processing only 15 transactions per second [TPS]. Despite the much-hyped 2.0 version, which was all set to roll out next year, Vitalik Buterin had planned on abandoning its native blockchain for a short period and instead, deploy other blockchains.

The Co-founder’s latest proposition of leveraging Bitcoin Cash [BCH] blockchain as a temporary scaling solution did not sit well with several Ethereum proponents. And as “radical” as it may seem, the supposed integration has left many in the ETH community baffled.

The latest one to join the wing of critics is Tuur Demeester, Founding Partner at Adamant Capital. His tweet read,

“Vitalik proposes to store Ethereum blockchain data on Bitcoin Cash. Terrible idea imo: nobody uses BCash and it has the same mining algo as Bitcoin, making it extremely vulnerable to 51% attacks.”

Bitcoin Cash miners executing a 51% attack on 15 May 2019 for “overwriting transaction history,” all in good faith to give the coins back to its “legitimate owner” questioned the two important factors of a blockchain – its censorship resistance and immutability, and the controversy does not seem to die down anytime soon.

In the said proposal, Buterin listed high data throughput, low fees, cheaper BCH block verification, and “a friendly BCH community” as main reasons for the proposal, deeming Bitcoin Cash blockchain as one of the worthy contenders. The development stirred massive controversy among its holders, leading to Ethereum dropping by over 8% in an hour on 14 July.

Following a fellow Twitter user questioning the Co-founder’s consideration, the latter revealed another potential blockchain and tweeted,

“I think ethereum classic could a great choice for this and better than BCH due to its shorter block times, if it adds (i) flyclient support and (ii) calldata gas cost reduction!”

Previously, the Co-founder of blockchain consulting firm, Catallaxy, Francis Pouliot, had termed the team-up as “humiliating” and as something that would eventually “delay the scalability crisis.”





Source link

Leave a Reply

Your email address will not be published. Required fields are marked *