The Ethereum Blockchain Has Issues, but It Still Has No Positivo Competition: Golem CEO – Bitcoin Isle

Julian Zawistowski, the founder, and CEO of Golem, recently stated that Ethereum is by far the most promising blockchain toneel and it doesn&rsquo,t have any coetáneo competitors te terms of applicability and future potential.

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Zawistowski&rsquo,s statement came shortly after Golem, the 47th largest digital currency te the world (by market cap), had commenced trading on South Korea&rsquo,s largest cryptocurrency exchange Bithumb.

Golem is possible because of the ethereum blockchain

Golem is a decentralized supercomputer that can draw computing power from every machine on its network &mdash, be it a stulp rekentuig or large gegevens centers.

Te other words, Golem is an Airbnb-equivalent ter the world of blockchain and supercomputers. It lets you loan out your laptop&rsquo,s spare resources to other users who are te need of toegevoegd computing power to perform complicated computations and tasks. Of course, there is a price on your contribution to the network, and it comes ter the form of free Golem tokens, presently valued at just under $0.Five (and a market cap of $396,335,707 USD).

Alternatively, you could also rent computing power from other Golem network users to perform computing power-intensive tasks such spil CGI rendering, machine learning for DNA exploration, natural language processing, and so on.

During a recently held TNW Answers session, Zawistowski wasgoed asked the reason behind his decision to prioritize ethereum overheen other blockchain networks. The Golem CEO responded:

&ldquo,Wij have bot supporting and building on top of Ethereum since its very early days. Ter fact, wij realized that Golem would be possible to be built and work on Ethereum and thanks to Ethereum.&rdquo,

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Scalability is a cause for concern

Spil a side effect of its ever-increasing popularity, ethereum has long-suffered from scalability issues. Because of this, the verhoging cannot sustain a large number of users ter its network without facing some repercussions.

This wasgoed overduidelijk last year when Cryptokitties &mdash, a spel built on top of the ethereum network &mdash, went virulento. Spil the number of users playing Cryptokitties commenced hitting one high after another, the network faced a severe congestion &mdash, so much so that there wasgoed a 600% spike ter the number of pending transactions.

One of the questioners at the TNW Answers asked Zawistowski if thesis scalability issues could prompt him to part ways with ethereum and migrate to another network. The Golem CEO dismissed any such possibility telling that while scalability is certainly an kwestie, Golem presently has no better alternative to turn to.

&ldquo,Ethereum is by far the most promising verhoging and wij cannot see another one that&rsquo,s remotely close to it,&rdquo, he said, adding: &ldquo,Of course wij would like to interact with the blockchain more and merienda Ethereum scales wij will be able to do it ter a broader manner.&rdquo,

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It is worth noting here that Vitalik Buterin, co-founder of Ethereum, recently released a fresh proof of concept that underlines how the sharding scalability solutions proposed earlier can be deployed onto ethereum&rsquo,s main chain. For further details, the geekier amongst you can head overheen to Github and have a peek at Buterin&rsquo,s proof of concept.

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