Don’t Believe the FUD: Ethereum Can Scale
Over the past few months, we have noticed a significant number of articles proclaiming the imminent failure and collapse of the ethereum platform due to its inability to scale and its overall lack of user traction. This is hardly a surprise; with many new emerging technologies, we see a similar hype cycle. In Gartner’s famous model, the “Peak of Inflated Expectations” is followed rapidly by the “Trough of Disillusionment.”The concerns raised in these articles are legitimate, but generally ignore the staggering progress being made daily in regards to scalability. No, ethereum cannot scale to become a world computer in its current state. The throughput is low and the cost is exorbitant. However, these issues were anticipated and have been well understood, since before the launch of ethereum as a blockchain. In this article, we will discuss the various solutions which have been created the past few years to address these limitations.Rather, it is a case for ethereum scalability, for a decentralized economic future that uses the ethereum blockchain as a settlement layer and facilitates the bulk of transactions with Layer Two technologies.