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DOGE Vs ETH – Elon And Vitalik Battle It Out

May 26, 2021
in Australian Crypto News
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Founder of Ethereum (ETH) Vitalik Buterin said the idea of scaling Doge is “fundamentally flawed,” as Elon Musk plans to. 

CEO of Tesla Elon Musk said that Dogecoin (DOGE) could scale its block production by 900%. This sparked a long and heated Twitter thread between Doge defenders and detractors, including other prominent personalities in the crypto space like Michael Saylor and Anthony Pompliano.

Ideally, Doge speeds up block time 10X, increases block size 10X & drops fee 100X. Then it wins hands down.

— Elon Musk (@elonmusk) May 16, 2021

However, Buterin wasn’t so convinced. In an article published on his personal blog, Buterin addressed the limits and subtle technical issues of scaling a blockchain, adding the risk of centralization—which would change a blockchain’s original concept. 

Vitalik Responds to Elon

In summary, Buterin said there are two ways to try scaling a blockchain: by simply adjusting its parameters or implementing fundamental technical changes. While the first one is the most attractive for developers, he outlines as follows why the approach is “fundamentally flawed”.

  • Computers can’t provide 100% of their CPU power because it would leave them unusable for other applications while it’s running a blockchain node.
  • Computers need a safe margin to prevent DoS (Denial-of-Service) attack.
  • Computers need spare capacity for other tasks like processing transactions in the mempool.

Buterin added the importance of users being able to freely run nodes to make the ecosystem truly decentralised:

For a blockchain to be decentralised, it’s crucially important for regular users to be able to run a node, and to have a culture where running nodes is a common activity.

Vitalik Buterin, founder of Ethereum [source]

However, technical changes can greatly improve a blockchain over time, and that’s what Buterin is currently working with Ethereum developers. He added that sharding the Ethereum network (that is, “decoupling the data contained on a blockchain from the data that a single node needs to process and store”) could increase throughput to 1 million TPS (transactions per second) without risking network security.

The current bottleneck for Ethereum is storage size. Statelessness and state expiry can fix this and allow an increase of perhaps up to ~3x – but not more, as we want running a node to become easier than it is today

Vitalik Buterin, founder of Ethereum [source]

Elon’s Response to Vitalik

Elon Musk didn’t take too much time to reply the same way Buterin did. His only response to Buterin was “He fears the Doge,” with a poster of a Shiba Inu trying to bite a dollar bill underwater, with a caption saying, “You’ll never use the dollar again”.

Join in the conversation on this article’s Twitter thread.

Disclaimer:
The content and views expressed in the articles are those of the original authors own and are not necessarily the views of Crypto News. We do actively check all our content for accuracy to help protect our readers. This article content and links to external third-parties is included for information and entertainment purposes. It is not financial advice. Please do your own research before participating.


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