Press "Enter" to skip to content

Samson Mow: Ethereum is a technological dead end

Other News

Blockstream’s director of strategic development and convinced bitcoin maximalist Samson Mow has fiercely criticized Ethereum’s smart contract platform and its ability to scale efficiently.

According to him, Ethereum is a technological dead end, and sooner or later it will die.

“The more he is used, the sooner he will die,” Mow tweeted.

 

Blockstream’s comments came in the wake of a recent Bloomberg publication that said that Tether (USDT) currently accounts for 90% of Ethereum network usage. In the future, this may lead to the fact that the commissions for transactions in the main cryptocurrency network will grow to such levels that many developers and users will make a choice in favor of other blockchains.

“Fortunately, USDT is also available in Liquid Network, which is better scaled, and in the future will also allow the use of Lightning Network to create assets like Tether,” says Samson Mow.

Ethereum founder Vitalik Buterin did not leave Moe’s words unattended, suggesting that he should pay attention to bitcoin, whose blockchain, in his words, is “also overcrowded.”

“You do realize that bitcoin is full just like Ethereum, right?” wrote Buterin.

The representative of Blockstream, however, does not agree with this argument.

“No, it’s different here. All blockchains have problems with scaling, but you have a worse situation. Bitcoin is used to validate transactions. Ethereum is used to calculate all kinds of third-party data,” he replied to Buterin.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.