At the conference, Genesis London Blockchain, held in February, a professor at Cornell University, a cryptocurrency expert and programmer Emin Gün Sirer said in an interview that the University's study showed that the Ethereum network is now more decentralized than the bitcoin.
Since ETH's debut in 2015, false information about the technology and development of Blockchain Ethereum has spread among the cryptographic exchange community. Some investors, users and developers believe that the network is inferior to other competitive blockchain in terms of security and decentralization, given its flexibility and ability to handle large-scale applications.
A study conducted by Professor Sirer and the staff of the Institute showed that Ethereum has fewer knots associated with institutions or organizations than Bitkoyn, which means that most of them are operated by individuals.
"The data shows that the nodes of the network are in a latent space, and geographically more distributed throughout the world, usually from different places, small networks and objects, unlike the bitokoy nodes found in the data centers, and about 56% of them, "he said.
Discussion of the Ethereum Network at the London Conference in Geneva
Ethereum is structurally and fundamentally different from Bitcom, because its network is optimized for the processing of decentralized applications (dapps). You should be able to process thousands of transactions per second, such as Facebook or Twitter, to support dapps. This was reported by Coinbase co-founder Fred Ersham.
In an interview with the largest media publication in South America JoongAng, Vitalik Buterin emphasized that the total scalability of the network can take from 3 to 5 years, depending on the process of implementing innovative solutions, such as Plasma and Sharding.
Solutions for the Ethereum network
Sharding significantly optimizes the production process using the consensus work confirmation algorithm (PoW), eliminating competition among miners. Instead of spending the processing power in separate blocks, the miners can cooperate to solve mathematical problems so that the computing power is not lost.
Plasma is a long-awaited solution, which is currently in development, open source. Allows a different block chain to handle tasks to reduce the load on the main line.
At the conference, Sirer also pointed out that hardware technologies, such as Intel SGX, can help a public chain of blocks, such as Bitcom and Ethereum, handle thousands of transactions per second. SGX exists on all Intel devices, such as laptops, etc. Together with them, users can send peer-to-peer transactions, without creating a load on the main block chain. He explained:
"SGX is a very interesting technology, and there are other reliable solutions and other providers that provide similar guarantees, but what SGX provides is the ability to know what protocol another person is executing, which is a fundamental step forward."
Sirer believes that a large number of institutions, retailers and companies as a whole will move towards Blockchain. However, the problems associated with the technology are technical in nature. He said that many years and considerable resources can be spent for the proper commercialization of blockchain technology.
Source: https://www.ccn.com/genesis-london-conference-study-shows-ethereum-is-more-decentralized-than-bitcoin/
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