Using “Steroids” and the “New Order” To Engineer a Better Ethereum

Too Long; Didn't Read

Let’s talk about scaling and interoperability from an engineering perspective. The main problem that the blockchain is trying to solve is scaling transactions and interoperating with other apps. The Ethereum network is the most suitable as we already know from the use of ERC20 tokens in ICO’s. Turing complete smart contracts are the most well known applications of Ethereum. The only thing that is holding Ethereum back is the volume of transactions and the speed of the network. Cryptokitties showed just how inefficient the Ethereum network is when it comes to handling volumes of transactions. Ethereum also charges fees aka “gas money” for using the network during transactions, which does put some users off. Another issue is with developers in that the Ethereum network uses it’s own programming language called Solidity. It is not something you can just code using whatever programming language you like, though Ethereum does support others until you develop the smart contract. To develop smart contracts in Ethereum, learning Solidity is still the key. Too bad this has discouraged some enterprises from using smart contracts. A more familiar tool for development of smart contracts would make more sense for the majority of programmers. That was a good point made by Dan Larimer, the founder of Steemit, Bitshares and EOS.