Why Ethereum can’t become the project number one in the industry? The response of the head IOST

The goal of Ethereum is to become a global system that will be able to cover the whole world. However, for this project will have to overcome the trilemma of self-scalability, says CEO IOST Jimmy Jun. Earlier, the founder of the ConsenSys Joe Lubin at the conference Deconomy described the main tasks of his team that need to be completed before integration Ethereum 2.0. Jung published some interesting arguments in answer to the speech of Lubin.

When Ethereum will take over the world?

The problem is clear — without specific efforts the project would never become number one in the world.

Before the network of the blockchain can truly establish their place in the future, it should solve the main trilemma. In other words, Ethereum needs to overcome challenges in achieving this scalability, security and decentralization at the same time.

In addition to Lubin, Deconomy also participated Buterin Vitalik, Andreas Antonopoulos and CEO Binance Chanpen Zhao. By the way, at the meeting, Joe explained why the Air can come out the winner in competition with platforms EOS, Polkadot, IBM Fabric and Cosmos.

However, Jung believes it is his project IOST the best platform to achieve the intended purpose.

Blackany first generation like Ethereum promise of decentralization, but it can be achieved only at the cost of scalability. Currently, the cryptocurrency can handle a maximum of 14 transactions per second. Blackany the second generation can offer much more bandwidth, though at the expense of a certain proportion of decentralization.

IOST, according to Jimmy, must be Central to a decentralized world.

Blockchain IOST struggling with the trilemma scalability through a unique mechanism of consensus Proof-of-Believability Consensus, which combines all the benefits of PoW and PoS. In our system, hundreds and thousands of nod can take part in block generation, ensuring the security of the entire network.

Whose project is better? Vote in our cryptodata!

SUBSCRIBE TO OUR CHANNEL IN THE TELEGRAM TO BE AWARE OF.

Leave a Reply

Your email address will not be published. Required fields are marked *