Blockchain scalability issues are fundamentally resolved as volume and market size grow. The scalability problem is that the blockchain block size is limited, resulting in a series of data that can’t be processed as the number of users increases, resulting in a delay in processing.
How to deal with this problem is a big challenge, but there is still a divide among the leading figures in the cryptocurrency world. Zhao Changpeng, CEO of Binance, the world’s largest cryptocurrency exchange, said, “In the new blockchain,
Most of it has been resolved.” Cz’s comments came in an interview with The Star, an online news story from Canada, in which vitalik, the founder of Ethereum, Buterin) reacts to what he said.
Do scalability problems still persist? In an interview, Mr. Vitaric responded to a question about what would be a hindrance in further spreading crypto-assets and cryptocurrencies, saying, “Scalability issues are a very big bottleneck. Ethereum’s blockchain has little more room for processing space. Not only will there be more room in the future, but there will also be more competition for processing space.
This could increase transaction fees to about five times the current level, which is a major obstacle for people participating in cryptocurrency transactions.” The answer continued, “However, there is no solution with future technological advances. The biggest challenge right now is that all computers must authenticate for all transaction operations.
If each computer can, on average, be divided into small chunks of transactions and processed, it should be a big step forward in solving the problem.”
influential people who divide their opinions In response to the interview, CZ said, “I like Both Vitalik and Ethereum. However, you may say that it was already solved in the problem of one year ago about the speed and the capacity already now. We need to increase the number of applications that users can actually use in the future. Otherwise, you’ll run into capacity issues again.
We should look at the application,” he said on his Twitter account. Just a few hours later, Mr. Vitalick responded to CZ’s comments, saying, “The problem has not been resolved at all yet. While the latest semi-centralized blockchain can handle hundreds of transactions per second, as far as I know, ios EOS has already become a bottleneck in scalability issues. I also have a pessimistic view about the second layer of the off-chain, and as Vlad Zamifir says, the difficulty of building the second layer system
It’s understandable from the difficulty of spreading it.” In response to CZ’s comments, Larry Sermak, an analyst at The Block, said, “The opinion that the latest blockchain is solving scalability problems I have no choice but to be skeptical. New blockchains, such as Tron-TRON, EOS, and Binance Chain, allow centralization and sacrifice censorship to solve scalability problems.
Binance Chain still has a single point of failure.” Due to the development of cryptocurrencies and blockchain, scalability issues are inevitable. Even among the leading figures in the cryptocurrency industry, this view is broadly divided. Do we have to wait for new technologies to be fully resolved?