At Token2049, experts in blockchain discussed Ethereum’s current issues.
During a panel at the Token2049 Conference in Dubai, experts from the blockchain sector discussed the latest developments and innovations.
Discussion participants touched on the Ethereum blockchain which is regarded as the leading platform for smart contracts. Panelists claim that Ethereum is unable to scale due to its slow transaction rate, which leads to high network fees and gas charges. In order to make new blockchains more scalable, they need faster transaction speeds.
Due to Ethereum’s first-mover advantages and brand recognition, experts recognized that developers were interested in Ethereum. Some argue, however, that Ethereum is not a good investment. layer 1 Ethereum’s current version is not the best option for all uses.
Raj Gokal is the co-founder and CEO of Solana‘Noted that the vast majority of Ethereum users and developers also use Solana Wallets. He also said that the Solana transaction volume grew faster than Ethereum’s indicators.
“We’re doing well, but Ethereum is not.”
Raj Gokal, Solana Co-Founder
Emin Gun Sirer is the founder and CEO at Ava Labs. He noted that Avalanche blockchain was never positioned as an ‘Ethereum killer.’ Ethereum, despite these fears, has many advantages. One of them is the ability to create blockchains that follow developers’ rules.
“We allow other people to launch their own blockchains according to their own rules. This is something that Ethereum is just fundamentally incapable of.”
Emin Gun Sirer is the founder and CEO Ava Labs
Keone Hon from Monad concluded his remarks by saying Ethereum To reach millions of users, the system must be much more responsive.
Vitalik Buterin, co-founder of Ethereum and a member of the Ethereum Board, was arrested in November last year. announced It is his intent to redesign the entire network. Buterin has outlined the general strategy he plans to use in order to improve Ethereum.ETH) staking Addressing performance issues is important. This last issue has been a problem in the recent past for the network.
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Source: crypto.news