Bitcoin SV-focused venture company Unbounded Capital has launched a new web series, ‘Understanding Ethereum.’ In each episode, Unbounded Capital partners Dave Mullen-Muhr and Jack Laskey analyze the network in a bid to “demonstrate how the Ethereum communities’ fatal mindset and technical flaws limit the platform from facilitating the truly unbounded scalability and security present in Bitcoin Satoshi Vision (BSV).”
So far, there are 10 episodes in Unbounded Capital’s “Understanding Ethereum” series, and each episode explores the project’s shortcomings or some of the flawed philosophy within its community. A few of the topics Unbounded investigates are: Why Ethereum fails to scale, Ethereum 2.0, why Ethereum apps have not been successful, where Ethereum went wrong, BSV philosophy vs. ETH philosophy, why network stability is important, and Proof-of-Work vs. Proof-of-Stake.
Unbounded Capital’s series is one of the easiest ways to get an understanding of the obstacles Ethereum faces and how BSV solves many of those basic problems. Their series also comes at a crucial time, as many Ethereum supporters are beginning to realize the flaws in the ETH network.
Ethereum’s uphill battle
DeFi has made many Ethereum supporters realize the obstacles that the network faces and the scalability challenges it has yet to overcome. The popularity of DeFi platforms has resulted in the fees on the Ethereum network reaching an all-time high, with the average transaction fee currently sitting at $14.29 per tx.
Even Ethereum maximalists are beginning to admit that these transaction fees are too high. To add insult to injury, the transaction fees are only going to continue increasing. The low throughput of the Ethereum protocol bottlenecks the network, so transaction senders continually increase the transaction fee in hopes that Ethereum miners will add their transaction to the next block.
Many believe Ethereum 2.0 will be the network’s saving grace, however, ETH 2.0 has been continually delayed and it is safe to say that the launch of ETH 2.0 is very far off into the future.
At this rate, Ethereum is inevitably bound for failure, and the only easy way out for Ethereum developers is to bring their operations to Bitcoin, the only blockchain that can process large transactions at a fast speed with transaction fees that are only a fraction of a penny.
Source: Read Full Article