{"id":113009,"date":"2021-02-16T11:16:45","date_gmt":"2021-02-16T11:16:45","guid":{"rendered":"https:\/\/precoinnews.com\/?p=113009"},"modified":"2021-02-16T11:16:45","modified_gmt":"2021-02-16T11:16:45","slug":"i-just-solved-defi","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/i-just-solved-defi\/","title":{"rendered":"I just solved DeFi"},"content":{"rendered":"
The obsolete Ethereum network is good for about 15 transactions per second across the planet, and it uses the account-based network consensus model across a distributed \u201cstate machine\u201d which requires all nodes to agree to move on before they actually do. This is in contrast to Bitcoin where validation can be done in parallel by competing nodes. Basically, Ethereum is one giant computer that requires all of its parts to move across each threshold together\u2014making the entire network only as fast as the slowest node.<\/p>\n
What Ethereum does have is absurdly high valuation, network effect and developer buy-in. It\u2019s a network by devs for devs. But is it good for business? That, as you will see, depends on your business model. I have long criticized the Ethereum business model as intentionally dishonest, and it bugged me that people continued to flock to it as a development platform. What\u2019s the appeal? The language used to program on it is the mostly unknown \u201cSolidity,\u201d the limitations of the network are frustrating, and the community lacks any real business sense. But then it occurred to me! Scaling into functioning businesses was never part of the plan.<\/p>\n
Creating these kinds of nightmares are the plan!<\/p>\n