Ethereum

Bitcoin

<figure> 
 <figcaption>
  Cover image via <a href="https://u.today/">U.Today</a>
 </figcaption> 
</figure>
<p dir="ltr">Ethereum cofounder Vitalik Buterin is likely stepping out of his comfort zone as he recently dug deep into one of the most common challenges of Bitcoin (BTC). The Ethereum innovator shared his&nbsp;<a href="https://vitalik.eth.limo/general/2024/05/31/blocksize.html">recent dive</a> into the Bitcoin block size war, a concept he labeled the one-sided competency trap.</p>
<h2 id="bitcoin-block-size-war">Bitcoin block size war</h2>
<p dir="ltr">The takes he shared on X stem from his review of two books that allegedly talked about&nbsp;<a href="https://u.today/vitalik-buterin-issues-crucial-bitcoin-btc-statement">Bitcoin block size wars</a>. His goal is to share his understanding of the concept so users can better avoid entering into the trap.</p>
<blockquote>
 <p lang="en" dir="ltr">One concept I introduced in my recent review of the bitcoin block size war books ( <a href="https://t.co/Ni6qLyBAbp">https://t.co/Ni6qLyBAbp</a> ) is the one-sided competence trap.This is a pattern that I've seen appear in many different types of contexts. It would be good to better understand ways to escape it. <a href="https://t.co/ebXJovuUhP">pic.twitter.com/ebXJovuUhP</a></p>— vitalik.eth (@VitalikButerin) <a href="https://twitter.com/VitalikButerin/status/1818076070295535744?ref_src=twsrc%5Etfw">July 30, 2024</a>
</blockquote> 
<p dir="ltr">Using a political analogy, Vitalik Buterin noted that two distinct groups exist. These include those with power and those trying to wrestle it away. While the parties with power are often considered authoritarian amid possible incompetence, those in opposition are considered too feeble to implement actual changes.</p>
<p dir="ltr">To Vitalik Buterin, this applies to the Bitcoin blockchain where, mostly, no innovation is taking place - as many hoped for. Buterin pointed out that the attempt to create alternatives through other chains like&nbsp;<a href="https://u.today/btc-xrp-and-shib-outshined-by-14-bitcoin-cash-bch-surge">Bitcoin Cash</a> (BCH) has proven almost ineffective.</p>
<p dir="ltr">To mitigate this one-sided competence war, Vitalik Buterin suggested that the opposition needs to realize that this fundamental problem exists. Then, they need to create solutions to the problem intentionally. Vitalik Buterin said identifying the problem is not nearly enough, as a concerted effort is needed to restore the core operational tenets for a blockchain that will truly compete with traditional payment giants.</p>
<h2 id="ethereum-is-working">Ethereum is working</h2>
<p dir="ltr">While the focus of his review is on Roger Ver and Jonathan Bier’s books on Bitcoin, Buterin is not oblivious to the challenges of Ethereum in this regard. However, unlike Bitcoin, there is a more proactive community of developers in the broader blockchain world trying to create better alternatives than Ethereum.</p>
<p dir="ltr">For example, layer-2 scaling solutions are doing a great job in fees, while alternative layer-1 networks like&nbsp;<a href="https://u.today/solana-on-verge-of-200-ethereum-smashes-resistance-xrp-set-for-1-breakout">Solana</a>, Cardano and XRP Ledger are also advancing the usability features of what a functional blockchain should be like.</p>

Vitalik Buterin Unexpectedly Shifts Focus to Bitcoin, Here's Reason

Tabla de contenidos

U_Today

Otros artículos publicados el 30 jul 2024

Bitcoin Dips Below $70K After U.S. Government Moves Seized Silk Road Bitcoin

How Will Bitcoin Perform in 2024?

Weekly Article Recap: 7/15-7/19

Ethereum Plummets 8.5% Following ETF Outflows: Analyzing the Market Reaction

Gartner (IT) Q2 2024 Double Beat: $3.22 EPS, $1.6 Billion in Revenue

Ethereum Gas Fee Drop Boosts Crypto Market!

¡Únete a nuestro boletín gratuito para recibir actualizaciones diarias de criptografía!