Saturday, July 1, 2017

The $28-Billion Challenge: Can Ethereum Scale to Meet Demand?

The $28-Billion Challenge: Can Ethereum Scale to Meet Demand?

For all the recent successes, this much is clear: ethereum is still far from becoming the "world computer" its engineers originally envisioned.


The best example of ethereum's in-progress status arguably occurred earlier this month, when the world's second largest blockchain by investment saw record-high transaction activity thanks in part to a single popular initial coin offering (ICO). The sale, which saw users compete to purchase a new token for an application called Status, ended up affecting the entire network, now valued at more than $28bn, causing it to run more slowly for all users.


Due in part to how the specific ICO was engineered, users struggled to get transactions and contract updates processed, while a group of exchanges temporarily shuttered ether trades to deal with the congestion.


In response, the cryptocurrency world was abuzz.


Full story at http://bit.ly/2scDk2l


Source: CoinDesk


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