RATE Group | Ethereum Blockchain “Almost Full”, Cryptocurrency Needs Usability, Privacy
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Ethereum Blockchain “Almost Full”, Cryptocurrency Needs Usability, Privacy

19 Aug Ethereum Blockchain “Almost Full”, Cryptocurrency Needs Usability, Privacy

Posted at 20:49h in Cryptocurrency News by

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According to founder Vitalik Buterin, Ethereum’s blockchain is “almost full” while usability, privacy, and security are required for mass adoption in addition to scaling.

In a recent interview with the Star, Buterin spoke about his experience and the future of the cryptocurrency space, including Ethereum, which faces a significant challenge in scaling to meet demand:

“Scalability is a big bottleneck because the Ethereum blockchain is almost full. If you’re a bigger organization, the calculus is that if we join, it will not only be more full but we will be competing with everyone for transaction space. It’s already expensive and it will be even five times more expensive because of us. There is pressure keeping people from joining, but improvements in scalability can do a lot in improving that.”

Currently, Ethereum processes about 700,000 transactions daily, with an average fee of about 12.6 cents. At its peak, the network processed as many as 1.35 million…

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