Vitalik Buterin in a recent interview with a journalist from thestar.com, said that “Ethereum blockchain is almost full”. He suggested that in order to improve the situation, the networks need to evolve away from the idea that every computer has to verify each and every transaction, even if that is sacrificing some of the security elements.
He believes scalability is the biggest problem at the moment for the widespread adoption of crypto.
“Scalability is a big bottleneck because the Ethereum blockchain is almost full. If you’re a bigger organization, the calculus is that if we join, it will not only be more full but we will be competing with everyone for transaction space. It’s already expensive and it will be even five times more expensive because of us. There is pressure keeping people from joining.”Vitalik Buterin
Vitalik Buterin Has An Open Mind Regarding Hybrid Solutions
The young multimillionaire revealed his openness to hybrid solutions, which involve both Ether and Bitcoin, such as the lightning network.
Lightning network could be used as an interface for Ethereum contracts to enable instant payments in Bitcoin, while at the same time is triggering a series of events on Ethereum or other chains.
Buterin claimed that a solution like that could bring down costs about 100 times.