The saturation of the Ethereum network is surprising?
The 2017 of the ecosystem of the criptomonedas and the technology blockchain continues advancing with great force and generating new events to which months even back we would not have imagined, at least the majority of the users. Ethereum, the second cryptomoneda in market capitalization and now the strongest "rival" facing Bitcoin, has suffered the ills that the pioneering blockchain created by Satoshi Nakamoto has been suffering: saturation in transactions.
In recent June, the proliferation of Initial Coin Holdings (ICOs) has been accentuated enough to make the large number of users interested in participating in these events end up saturating the network with the immense demand Of transactions and contracts carried out at the same time. A situation that perhaps the team led by Vitalik Buterin could not imagine happening so fast in the history of the platform Ethereum.
Although in Bitcoin this is a phenomenon that has become an important problem that has generated long years of debates that to date have not yet settled most of them, in Ethereum has so far been a handful of events not More, but with the firm possibility of prolonging as users continue to use the platform.
The ICO's, the new fashion in the ecosystem of the criptomonedas
He mentioned that tokenization will be the next step of this ecosystem based on block chains, where the appearance of new applications and tokens focused on various areas of society and industry will increase. Now, with the facilities presented by the Ethereum blockchain, many projects and developers have decided to create and run their own platforms and tokens on top of the Ethereum block chain; This practice is becoming more and more common and ERC20 tokens, built on top of the chain of blocks, become more popular and used.
Of course, before launching these platforms and placing tokens in the market for cryptones, the pre-sale of quantities of these digital assets is done so that the developer teams can collect money that allows them to be financed in the future in The development of the project. This is known as ICO's, which being token registered in the blockchain of Ethereum, requires that investors have to buy Ethers (ETH) to be able to acquire the tokens in pre-sale and thus force the saturation of the network.
This congestion is not only due to Ethers transactions (ETHs) related in the ICO's activities - which have attracted a lot of capital - but also to the creation and execution of intelligent contracts and data records of the thousands of applications that already have Have been created on the Ethereum platform and are being tested on a larger scale by various companies, developers and users in general.
The ICO's that have used the Ethereum platform as a basis have made the Ether (ETH) price skyrocket from $ 7 in January to over $ 400 in weeks ago. Putting this criptomoneda even about to equalize the market capitalization of bitcoin, which is said soon.
However, as the phrase "great power demands great responsibility" says, Ethereum has been the main cause of the fall of the market of the cryptonedas this week, since a flash crash occurred in Ether (ETH) prices achieved Cause great amount of panic throughout the ecosystem. This is clearly another reflection of the weight that this cryptomoneda has gained throughout the market.
Ethereum lives some of the evils of Bitcoin
Being the pioneer criptomoneda, Bitcoin has faced many more obstacles than any other, and to keep up with the passage of time very surely this record will be maintained. Ethereum, born after the ecosystem had made several positive advances in the technical, legal, media and commercial areas, has managed to position itself thanks to its immense potential and the support of very important companies and techno-banking consortiums around the world.
This sudden and accelerated growth has shown some seams of the making of the platform, being of course the congestion of the ICO's the most surprising because to date it had not thoroughly tested the platform's responsiveness before large amounts of transactions and Smart contracts running in such a short time.
The saturation of the network, which is still small compared to that of Bitcoin, has generated enough headaches in the user community. The latter is one of the most direct examples of the side effects of being one of the most popular platforms and used throughout the ecosystem of the criptomonedas. Ailments that until now seemed reserved only for Bitcoin.
Even so, Ethereum has shown much better reaction than Bitcoin in this type of scenarios, in addition users continue to trust in the potential of this platform in the future and the construction of designs on its blockchain, as well as the execution of ICO's, it seems that it is not going To stop so easily.
Translated by londoterra
taken out of https://cointelegraph.es/news/la-saturaci%C3%B3n-de-la-red-ethereum-%C2%BFsorpresiva/es