Ethereum developers are having trouble scaling the most prominent smart contract platform in the world.
Ethereum and The Bitcoin Cash Gambit
It’s that simple. Scaling something worth billions of dollars without breaking it is a monumental task.
Development roadmaps have regularly been delayed.
Founder and Ethereum developer Vitalik Buterin thinks that the next era of Ethereum is at least a year off, but in the meantime, Bitcoin Cash may have all the properties needed to scale.
“In the longer term (1+ year out) the scalable data layer is going to be ethereum 2.0, because its planned 10 MB/sec data throughput is much higher than that of any existing blockchain. In the shorter term, however, we can start working on these techniques immediately by using existing blockchains, particularly those that have lower transaction fees per byte than ethereum, as the data layer.”
Buterin lists off reasons that Bitcoin Cash is a worthy blockchain to build on while Ethereum’s network remains constrained by its initial design choices.
For one thing, he points out that Bitcoin Cash, as a community, welcomes its blockchain to be used and makes space to do so plentiful.
“The BCH community seems to be friendly to people using their chain for whatever they want as long as they pay the tx fees.”
He cites memo.cash, a site which allows you to store any data you like in the Bitcoin Cash blockchain, as an example.
As another example, sites like Honest.cash allow people to embed entire text posts in the Bitcoin Cash blockchain.
Buterin cites Bitcoin Cash’s low fees, which he says would not be possible on Bitcoin, as well as existing Ethereum-Bitcoin infrastructure like BTCrelay.org.