RATE Group | Ethereum needs to evolve or ETH will become valueless
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Ethereum needs to evolve or ETH will become valueless

03 Sep Ethereum needs to evolve or ETH will become valueless

Posted at 19:06h in Ethereum News by

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The future of Ethereum ETH has come under scrutiny with claims that the collapse of its cryptocurrency is inevitable. And co-founder Vitalik Buterin agrees, for now.

In a piece published on TechCrunch, cryptocurrency entrepreneur Jeremy Rubin stipulates the price of ETH – the network’s underlying digital asset – is bound to plummet.

“In Ethereum as it presently exists, this is absolutely true,” Buterin said in a post on Reddit. “[A]nd in fact if Ethereum were not to change, all parts of the author’s argument […] would be correct.”

Cryptocurrency entrepreneur, Jeremy Rubin, made the claims in an article on TechCrunch. Ethereum, the author argues, has problems with scaling and smart contract security that lead to an inability to out-do competitors. All this will inevitably lead to a collapse by “economic abstraction.”

Economic abstraction is a phrase used to describe the payment of transaction or smart contract fees (gas), in a…

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