DeCrypting Crypto

Vitalik Buterin v Elon Musk

Elon Musk is becoming the pantomime villain or the knight on a white horse, depending on your outlook of the crypto world. Elon has recently come out and said how he would like DOGE block times and size to be 10 times faster with fees in the hundreds lowered making the network win “Hands down”.

Vitalik has said that although this is incredible tempting this feat would be difficult “without leading to extreme centralization and compromising the fundamental properties that make a blockchain what it is.” Vitalik is focused on the bottleneck problem and storage size of the Ethereum nodes on the blockchain.

He concluded “Sharded blockchains can scale much further, because no single node in a sharded blockchain needs to process every transaction. But even there, there are limits to capacity … We don’t have to worry too much: those limits are high enough that we can probably process over a million transactions per second with the full security of a blockchain. But it’s going to take work to do this without sacrificing the decentralization that makes blockchains so valuable.”

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