Opinion: Ethereum becomes more centralized and dysfunctional

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In anticipation of many updates, the Ethereum network was criticized by bitcoin analyst Tuur Demeester. He expressed concern about the future of the ecosystem.

Bitcoin enthusiast and developer Tuur Demeester tweeted that the Ethereum ecosystem is developing in the wrong direction and moves away from the ideas of decentralization.

“Imo Ethereum’s culture is antithetical to the cypherpunk ethos, and as a result the project will become ever more centralized and dysfunctional over time.”

Demeester attached screenshots of Vlad Zamfir’s and Vitalik Buterin’s tweets to his post. One screenshot is Buterin’s statement that the Casper update will help withstand 51% attacks because “we can just delete the attackers’ deposits and keep going” and that “the idea of average users personally validating the entire history of the system is a weird mountain man fantasy.”

This is not the first time Demeester negatively assesses Ethereum development. In December 2018, he published a series of 50 tweets in which he explained why he was opposed to the project. Among the shortcomings listed were the Ethereum architecture, which is the opposite of bitcoin, and that ETH cannot be called money, and the system works in an unsafe and unscalable mode.

Meanwhile, the team of Ethereum 2.0 developers announced plans to increase the block size in the Ethereum network by 8 times, up to 8 MB. It is necessary to eliminate the difficulties associated with the implementation of sharding. Thanks to an 8-fold increase in the block, network bandwidth with 64 shards (instead of 1024, as originally planned) will increase to about half a billion transactions per day.

In the Ethereum network, it is planned to deploy a hybrid method of scaling called ZK rollup, combining first and second layers, as well as solutions based on evidence with zero disclosure (zk-SNARKs) through smart contracts. The Optimistic Virtual Machine (OVM) solution will also be launched, aimed at supporting all Ethereum-based second layer protocols.

The next hard fork in Ethereum, Istanbul, will take place in December 2019, and in July 2020 there will be the Berlin hard fork. It will introduce a number of important updates, such as ProgPoW, which will increase the efficiency of GPU mining to counter ASIC miners, and several EIPs that will change the cost of gas for different operations.

Crypto Telegraph Team

Crypto Telegraph Team

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