While the deadline for the gradual launch of Ethereum 2.0 is just around the corner, critics express concerns over potential risks and even call Ethereum a scam.
Skeptics Feel Misled Over Network’s Scalability
Ethereum started as an ambitious idea of a global platform to host decentralized applications (Dapps) and smart contracts. While there are many projects and Dapps on Ethereum, the network might not be capable of supporting potential mainstream Dapps with millions of users.
For example, when the blockchain game CryptoKitties reached its culmination, the transaction fees on Ethereum rose to 0.02 ETH, or $20. Besides the increasing fees, there are concerns that the network wouldn’t provide the same performance during mass adoption of Dapps.
In other words, there is a scalability issue with Ethereum that has to be addressed, and this is exactly what the network’s development team wants to do by switching to Ethereum 2.0 through iteration.
But wait a minute – hasn’t Ethereum been advertised as a scalable blockchain network…