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.
ICO prospectus: "Build scalable apps on Ethereum."
Mod: "Youre saying the concept of launching something that doesn't scale then rebuilding it as something thats scalable was part of initial the plan."
Lubin: "We knew it wasn't going to be scalable for sure."
Vitalik: *nods* pic.twitter.com/MBSFkQeugj
— grubles (@notgrubles) September 20, 2019
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.
Ethereum is a technological dead end. The more it’s used, the faster it dies. Fortunately, USDt is also available on the #LiquidNetwork which is more scalable and later will allow Lightning Networks to be created for assets like Tether. 🌊⚡️ https://t.co/Fn5owRSRk0
— Samson Mow (@Excellion) August 27, 2019