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Ethereum founders acknowledge that blockchain was never designed for scalability

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Karol Rhodri
Karol Rhodri
Karol is a strong professional with a Master of Library & Information Science - MLIS focused in Mathematics and Computer Science from Empire Beauty School-State College. He has a strong belief that every technology-related company will surely adopt blockchain, it's just a matter of time.

Ethereum blockchain founders Vitalik Buterin and Joesph Lubin admitted that they knew Ethereum was never designed for scalability. The original ICO documents advertised that platform allows building scalable apps. Many from the crypto community are accusing founders of deceiving the investors.

Vitalik Buterin and Joesph Lubin are facing criticism from the community after they admitted that Ethereum blockchain was never designed for scalability. A twitter user posted a clip of an interview, where the interviewer asks both individuals if they were aware that the Ethereum blockchain was not scalable at the time it was created. Lubin replied, “We knew it wasn’t going to be scalable for sure,” and Buterin nodded along. 

The original ICO documents of the company clearly state that it would allow building scalable apps on the chain. But Ethereum blockchain has been scalability issues for a long time. Slow transaction times have left the users frustrated. Now the original documents have been removed from the public view. 

Some form the crypto community are accusing founders of overselling the blockchain’s capabilities from the start and deceived investors. Earlier Bloomberg reported that Ethereum blockchain is running out of capacity and is almost full. 

Blocksteam’s CSO Samson Mow called Ethereum a technological dead end. He added that the more the network is used, the faster it would die. Ethereum founders have promised to make the platform scalable, but all previous efforts to do the same have not been fruitful. Ethereum2.0 upgrade is supposed to solve the scalability issues, but many from the crypto community are highly skeptical of the promise. 

Disclaimer: Coinnounce's views are not necessarily reflected in the articles published, and they are the sole representation of the author's opinions. Article's information should not be taken as investment advice. Risks are involved in cryptocurrency investments and trading. Readers are urged to carry out extensive research before making a decision.

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