Home Altcoins News Will the Scaling Ethereum Merge Summit Bring the Answers to Scalability on the ETH Network?

Will the Scaling Ethereum Merge Summit Bring the Answers to Scalability on the ETH Network?

Ethereum Merge Summit

The blockchain technology driven cryptocurrency industry is something that many are just trying to understand.  Many of them so far in the process of understanding the technology have not done anything more than investing here and there.

Many of them who are trying to understand the blockchain technology have not managed to get an understanding beyond the general level.  However, it takes some high level understanding to really get to the best the technology has to offer.

The average person is still trying to figure out what is Ethereum and why it is important than Bitcoin. Some of them have not even heard of Bitcoin and they are not trying to comprehend how Ethereum and Bitcoin are different.  To them Bitcoin, Ethereum and any other Altcoins vibrate in the same energy frequency as they are not able to differentiate between any.  There are others who know something about the technology and they are at a point in time trying to identify why something is better than the other.

Bitcoin is a pure digital currency a store of value in simple terms.  The decentralized ledger stores the detail of how much BTC (money) everyone has. However, Ethereum is about the best use cases of the blockchain technology.  They are about more than being just a peer to peer digital currency.

It all started with DNS which is a decentralized name server; however, people were asking if it is possible to create other kinds of things like smart contracts, financial agreements, registries about identity, and a range of other applications.  Building a blockchain for each application does not really work accordingly to Vitalik.

Therefore, the core idea behind Ethereum is to have a general purpose blockchain. Instead of having 5 different set of tools for different types of applications, you have a blockchain that understands a general purpose programming language. Something like in the android or IOS you have apps and the apps can be written in whatever programming language they are written in. Anyone can create an app and run it.

Ethereum has the general purpose flexibility and this eventually led to lot of people building on it and eventually they are facing scalability challenges.  This means they are good and once they solve the scalability issue, they are the biggest giant that is hard to move.

Vitalik Buterin recently spoke about merge. For those who do not know what that is supposed to mean actually will understand best listening to the Scaling Ethereum Merge Summit. Users are already wondering how some things could wrong and how much it could get delayed! Reality will unfold soon.

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Steven Anderson

Steven is an explorer by heart – both in the physical and the digital realm. A traveler, Steven continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Steven and through his business acumen has gained financial profits as well as fame in his business niche. Send a tip to: 0x200294f120Cd883DE8f565a5D0C9a1EE4FB1b4E9

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