Samson Maw, strategy director at Blockstream, Blockstream, published a message this Tuesday criticizing the Ethereum protocol. According to him, Ethereum is experiencing serious problems with scalability and is doomed to a slow death. In response, Ethereum founder Vitalik Butterin suggested that Maw look at his company's Liquid Network for Bitcoin scaling.
Buterin recently admitted that Ethereum is running at its limits, which inevitably leads to an increase in commissions and slows down the processing of transactions. Ethereum is being used by many blockchain projects, including large scale ones such as Tether, whose transaction volumes make the situation even worse. Against this background, a number of experts suggested suspending the development of applications in the Ethereum network.
Commenting on the critics' remarks, Buterin wrote: "Blockchain Ethereum has been almost full for several years. However, I think it's still good for application development, but any significant projects must be scalable.
The Ethereum developers plan to launch the second phase of their project next year. It should be the answer to the current scalability problems. Mow, however, does not think so and claims that Ethereum has reached a "technological dead end". He proposes to move the Tether to the Liquid Network, which allows for interchange settlements in compliance with the new requirements of the Financial Action Task Force on Money Laundering (FATF).
Bitcoin maximalists' view that all blockchain projects should be built around the largest cryptocurrency does not support Buterin: "You do realize that Bitcoin is "almost as full" as Ethereum, right?" At the same time, he considers the Liquid Network to be nothing more than a "limited-access consortium network" that is not in the spirit of decentralised technology.
Earlier, Buterin said that second-tier scaling solutions may not be the best method not only for Bitcoin, but also for Ethereum itself.