Since the advent of the Ethereum network and the currency ETH, it has seen major success. The founders Vitalik Buterin and Joseph Lubin have gathered nothing but praise for the platform. However, loopholes were eventually found in the platform and the greatest issue of scalability was discovered. The limit on computation per block has limited the blockchain to roughly 15 transactions per second which is why the currency hasn’t gained the volumes that it is destined for.
The blockchain is so indulged in the issue that last year, a blockchain game Cryptokittens rose to fame and clogged the network by the number of transactions that were being carried out. This surprising spike in the transactions on the gaming network slowed down the blockchain.
This issue has been a subject of criticism by most of the leading analysts of the game. Upon asking his take on the scalability issue of Ethereum blockchain, Thomas Power, the non-executive director of 9spokes told BlockPublisher,
Struggling to get off the ground, weak brand perception, weak and disorganised leadership. Joseph and Vitalik need to re-unite as one perhaps even with Charles Cardano also.
Harsh words there, but might as well be truthful. Upon further asking Power that what repercussions does he expect if the issue is not solved as soon as possible, he said that there would be a “mass fall before recovering again”
Also when asked about his predictions on where the currency ETH is headed, he gave an added bonus BTC prediction saying that,
Falling to BTC $3000 $ETH $100 then rising during the crash of 2020-2022.
Although the analysts have a lot of criticism to shower in the Ethereum scaling issue and the currency overall, the creator and co-founder Vitalik Buterin is still hopeful that he would be able to solve the issue with tweaks in the layers of the system. He said earlier in an interview
So if you get a 100x from Sharding and a 100x from Plasma, those two basically give you a 10,000x scalability gain, which basically means blockchains will be powerful enough to handle most applications most people are trying to do with them.
The co-founder is hopeful to see the platform scale to allow a million transactions a second, so are the teams of the plethora of startups that are built on top of Ethereum blockchain. If they become successful in solving the issue, the volumes that ETH can reach and the possibilities of wonders that the blockchain can do are sky high.