It seems to be a billion dollar question whether Ethereum is just a bubble or whether it will shape the way we use internet in the future. The answer for that is “unless ethereum finds a viable solution to its scaling issue, ethereum will be in trouble”. The Ethereum team is working on various solutions to the scaling issue faced by the network.
Scaling problem was alien to the ethereum network until this June. It was due to an ICO for the token called as Status. Millions of people rushed in to grab the token resulting in a large number of transaction per second, which in turn clogged the network. This is perhaps the first time ethereum experienced scaling issue.
Now let’s talk about the solution for Ethereum scaling problem. The figure above shows seven scaling solutions that if implemented securely will rejuvenate the ethereum network and resolve the scaling issue. This would allow ethereum network to handle millions of users. But it is to be noted that all applications may not run with full functionality on chain in the ethereum network. Therefore off chain solution, such as lighting network, is also taken in to consideration. This might also boost the ethereum network and would allow applications to run in full functionality.
The Ethereum community is working hard to implement the scaling solutions and hopefully will be implemented by 2018. If ethereum succesfully implements this solution, indeed Ethreum will the be the Future Internet.
Read Further Details on:
http://www.coindesk.com/28-billion-challenge-can-ethereum-scale-meet-demand/
https://cointelegraph.com/news/coinbase-co-founder-ethereum-needs-off-chain-scaling-solutions-to-scale
Hope you like the article.
Please upvote, comment and follow ☺️