Gavin: Ethereum Will Outgrow Bitcoin at This Pace

By September 26, 2016Bitcoin Business

What’s up with Ethereum? Is it really going to be the “Bitcoin Killer” as people labeled it in its early days, or not? At least Gavin Andresen, one of the leading personalities in the Bitcoin community seems to think so. He has made his opinion public in his latest tweet . The tweet says, “Ethereum has more nodes today than Bitcoin. Prediction: its lead will grow even as its blockchain size exceeds bitcoin’s.” It is not clear whether his tweet was a result of all the frustration that has built up following repeated attempts to improve the Bitcoin protocol or just plain facts. But it is something hard for a majority of the Bitcoin community to digest, especially with Core developers and the mining community dragging their feet for over a year without doing much about scalability issues. Gavin Andresen’s tweet may as well be pointing out the things that should happened with Bitcoin protocol by now, but hasn’t. However, things are not as rosy with Ethereum as Gavin’s tweet makes us believe. The smart contracts platform has been facing issues of its own owing to its rapid expansion. The Ethereum platform expanded too fast, with the constant addition of new features. But the rapid expansion has come at a cost, with compromised security and reliability. Even though it is not something that can’t be fixed, the platform has already experienced a series of attacks, undermining its security. One DAO attack resulting in the theft of ether that forced Ethereum to implement a hard fork and then two DOS attacks last week have shown that Ethereum still needs a lot of work to turn Gavin Andresen’s words into a reality. At the same time, some believe that by the time Ethereum makes it to the point where Bitcoin currently […]

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