Ethereum has been moving from PoW consensus to PoS protocol to become more energy efficient. It is also supposed to address few of the other issues on the technical font. However, the new Ethereum project still has some issues to address and ” high transaction fees ” along with ” scalability ” are a couple of those issues.
Meanwhile Ethereum’s co-creator Vitalik Buterin believes that the biggest issue with Ethereum project is not related to technology but it is something else. In a recent conference, he expressed that he is happy with the [better] economic position Ethereum is in now, compared to when it was launched.
“One of the biggest problems I’ve found with our project is not the technical problems, it’s problems related with people.”
Buterin also reinforced that he doesn’t like to call the new project ETH 2.0 because it implies that the existing Ethereum platform is being tossed out to make a new one which is not the case. It is just a incremental change with the same fundamentals in his words.
“We actually call it Ethereum 2.0 a bit less because we want to emphasize that, this isn’t throwing out the existing Ethereum platform and making a totally new one. It’s a much more kind of incremental set of changes.”
Going back to one of the concerns we talked about in the first paragraph, Buterin confirmed and hoped that the sharding and rollups are going to make sure that Scalibity of Ethereum network is boosted and it would be able to live up to the expectations in the near future.
“There’s a lot of other things that people are building in the Ethereum space, but the blockchain’s ability to handle all the transactions is having a hard time keeping up with the demand, which is exactly why all of these things that we’re working on the technology side with scalability and proof of stake are so important.”
Almost a week ago, former Ethereum co-creator with Vitalik Buterin and Cardano’s creator Charles Hoskinson had questioned the evolution of Ethereum. He had told that Ethereum network is of course evolving but not changing enough for any good and eventually ETH 2.0 will go on to kill Ethereum.