[Is Ethereum really that bad? Vitalik Buterin joins the debate]
On the One user criticized Ethereum for being slow, inefficient, expensive and useless except for memes and specific cryptocurrencies, targeting Ethereum co-founder Vitalik Buterin.
Buterin strongly disputed this and responded with concrete facts. He pointed out that both Layer1 and Layer2 solutions can confirm transactions within seconds, and Layer2 transaction costs are even less than $0.01, effectively alleviating concerns about high transaction costs. He also highlighted some successful projects in the Ethereum ecosystem, such as Farcaster, Lens, and Polymarket, demonstrating tremendous progress and utility.
In addition, Buterin mentioned the development of zero-knowledge (ZK) technologies, such as ZK voting and ZK authentication, as innovations that highlight Ethereum’s potential for creativity and practical problem solving, improving security and privacy protection. However, this user’s criticism goes beyond technical performance and believes that blockchain technology mainly creates solutions to non-existent problems, despite acknowledging Polymarket’s legitimacy.
Buterin's defense was based on specific developments and applications on the Ethereum network. He tried to refute the idea that Ethereum is a slow and expensive platform, emphasizing the speed of transaction confirmation and the low cost of Layer 2 solutions. He mentioned the successful protocols of Farcaster and Lens, emphasizing Ethereum’s practical applications and continued contributions to decentralized networks. This conversation reflects an ongoing discussion about Ethereum’s practicality and scalable functionality.
