RATE Group | Ethereum Founder Vitalik Buterin, Uncovers New Idea On The Ethereum Blockchain – Sat Oct…
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Ethereum Founder Vitalik Buterin, Uncovers New Idea On The Ethereum Blockchain – Sat Oct…

13 Oct Ethereum Founder Vitalik Buterin, Uncovers New Idea On The Ethereum Blockchain – Sat Oct…

Posted at 11:23h in Ethereum News by

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During an Ethereum conference in Paris, on March 11, 2018, Vitalik Buterin, the founder of Ethereum, made a presentation about a scaling solution for Ethereum. According to him, the new system of smart contracts will increase computational potential of the Ethereum Blockchain.

What Does The Scaling Solution Involve?

Co-creator of Bitcoin Lighting Network, Joseph Poon, and Buterin, created the scaling solution as one of the new developments that aim to increase Ethereum’s capacity. The idea is to develop a layer of Ethereum smart contracts that efficiently interact with the main blockchain.

The shortcoming of the prototype is that users will need to validate each contract in the system after download manually. However, Buterin said that they had found a possible solution for the problem.

In Buterin’s words:
“The main advantage of this new development is that the amount of data to be downloaded will be reduced significantly.”

Users will not need to download the whole…

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