According to reports in a series of counter attacks, the founder of the Tomochain Blockchain protocol Long Vuong, has hit back at Vitalik Buterin the creator of the Ethereum Blockchain. The Ethereum (ETH) founder is well-known for his stance regarding Blockchain projects that claim to offer high transaction speed like his own offering ETH. He has been known to regard these offerings as “centralized” and unworthy. Now Vuong of TomoChain (TOMO) has hit back at Buterin due to his remarks against other Blockchain protocols.
Ethereum (ETH) Price Today – ETH / USD
Tomochain (TOMO) Offers 1,000 When it Comes to Transaction Speed Compared to the Double Digits Offered by Ethereum (ETH)
The TomoChain (TOMO) Blockchain network’s goal is to become a public EVM-compatible Blockchain that offers faster and cheaper transaction rates, among a host of other features and promises.
Except it is not just about hot air. The network already boasts of transaction speeds of up to 1,000TPS which is remarkable when compared to Ethereum’s (ETH) double digits TPS.
Vuong recently stuck the dagger into Ethereum (ETH) when he said:
“Most systems have trade-offs. But the Ethereum creator won’t be the one to make the call regarding which offering is trash and which offering isn’t.”
He then went on to twist it a little by adding:
“This will not be an easy year for Ethereum (ETH). Ethereum and its founder are in a difficult position. On one side, they are disrespected by Bitcoin’s (BTC) maximalist community, and on the other, they can’t solve their performance issues efficiently.”
Tomochain Hits Back at Buterin and Ethereum
Buterin spoke up during the Blockchain Connect conference earlier in the year to state that many projects that claim to offer high transaction speeds are typically centralized than Ethereum itself.
In in the Ethereum founders words he criticized them:
“Most of the time whenever a project claims it can work at 3,500TPS due to the fact that it offers a different algorithm, they are a centralized pile of trash.”
Vuong took exception by highlighting TOMO’s already impressive transaction speed which stands at 1000TPS, and 150-plus master nodes along with very low transaction rates.
TomoChain’s mainnet was launched in December of last year and has slowly gathered traction to this day. Vuong strongly believes that his company which is based in Singapore and Vietnam can offer a viable solution for the scalability woes faced by Ethereum.
Ethereum (ETH) Contracts Can Transition Easily to Tomochain (TOMO)
Tomochain (TOMO) is definitely an interesting prospect, not a centralized piece of trash like Buterin claims. It features up to 150 masternodes already with a PoS (Proof-of-Stake) voting consensus model in place, low fees, and a near-instant transaction confirmation offering.
More importantly, the TomoChain Blockchain is EVM-compatible (Ethereum Virtual Machine-compatible). This means that all contracts written in the Ethereum protocol can be imported to TomoChain frictionless.
This has the potential to give struggling Ethereum (ETH) dApp developers a way of moving their projects past the finish line.
Since Ethers well-publicized scaling problems, many ETH dApps are inactive with 93% of these dApps reporting up to zero transactions in only 24 hours last week. Should projects like TomoChain (TOMO) start moving up to speed, they may inevitably give Buterin a run for his cash.
Will more platforms eventually unseat Ethereum (ETH) in terms of smart contracts? Only time will tell.