Ethereum (ETH) Experiencing Growing Pains

Lark Davis Shared: A lot of people fading solana due to the network performance issues over the last few months. Ummm, have you guys seen the fees on layer 1 ethereum? Crypto is still early, much of this tech is experiencing growing pains. Deal with it.

COMMUNITY RESPONSE:

The problem Lark, is that there are better alternatives to Solana. Solana is all hype, their product is shit. A real solution and alternative to ETH would be SYS. Which is EVM compatible + Merge-mined with BTC. They also have ZKRollups_ which makes SYS ultra scalable.

SYS with zkrollups is everything we wish ETH could be… the best L1 blockchain. We’ve all had enough of silly gas fees, failed transactions, hacks or network outages.

There’s a massive difference between tech issues, and architectural design flaws… Scalability for example is not a tech issue, it’s a design issue. ETH cost was by design, deal with it – sure.

I am looking into ways we can build our e-commerce on Solana – the chain can currently process around 400,000 transactions for around 1 SOL in fees, with incredible speed

Those theoretical numbers just don’t work.  Most of those txns are really just internal chatter between the nodes.  Easy to fall over. SOL needs an immense amount of work to fix so it operates reliably, then there’s the VC and centralization issues.

That is not the case. Solana cannot process 400,000 reasons per second right now. At least not in practice. A better place that provides both front and backend to build something like that on chain is the Internet Computer Dfinity.

At least Ethereum is decentralized.  You only really need one decentralized settlement layer of value, and Bitcoin provides that. Everything else decentralized is “nice” but ultimately are financial service providers – and you judge the service performance. ETH is obsolete.

Bitcoin does nothing. It’s a digital store of value and that’s it. Developers aren’t building on the Bitcoin ecosystem, they’re building on ETH, DOT, SOL, etc.

That’s the point. You can deploy custodial Bitcoin (bridged/wrapped) into alt chains to use them as financial services for yield/interest/loans. Ultimately it tracks back to Bitcoin as the basis of value. All of crypto settles on Bitcoin this way.

Solana is all hype.

I don’t think ADA traffic is comparable to SOL or ETH networks though, is it? Cardano is going through even more problems with congestions that last days for simple transactions. Solana has been stable lately and now they are working on market fee-based transaction for spammers. Should completely eradicate congestions.

Strongly disagree. The initial ETH design was very decent. Over the years the network got congested, which now they have to solve. Great developers are working on it. SOL is a total different story! Failing tech from genesis, but pushed to $ highs by VC’s covering up the facts.