According to a new report which was released in relation to Ethereum, the top digital asset’s ecosystem is facing four major technical issues. If not quickly addressed these issues could adversely affect the network in the long run. Let us see a highlight of these four issues affecting the Ethereum (ETH) Blockchain:
Ethereum (ETH) Price Today – ETH / USD
Four Technical Issues Affecting the Ethereum Blockchain
Size of the Blockchain Size
Traditionally, the size of a crypto project’s Blockchain a key factors that determine the network’s overall potential to be scalable. Regarding the issue, we can find that the latest report shows the size of ETHs Blockchain is “188 GB per Geth full node and at 2.12 TB for the archival node”.
For the purpose of giving you a clearer idea of what this means, we can see that Bitcoin’s Blockchain sits at 200 GB. It is so despite the fact that BTC has been active for a longer period than Ethereum (ETH).
According to the report, “this is an issue because the bigger the Blockchain, the more difficult independently running a node on it becomes. And this can negatively impact decentralization.”
Hence, to mitigate the issue, the study cites the concept of sharding. Calling sharding into effect can help when running a node becomes difficult.
Potential Centralization of Infura
Despite the fact that Infura has become a very important tool for developers on Ethereum all over the world, there are many risks associated with the issue of centralization that currently affects the technology. At least that’s what the report says.
Infura is a technology module designed to help developers, dApps and services, “outsource their full node needs to a third-party entity.”
According to data contained in Delphi Digitals, Infura currently processes up to “10 billion requests on a daily basis. The tech module also caters for over 50K developers.
Speaking in a recent interview, the co-founder of Infura Michael Wuehler, said:
“If every dApp in the world is pointed to Infura, and we choose to turn that off, we could turn that off, and the dApps will d stop working. Which is a great concern.”
As most members of the crypto and Blockchain communities are aware of, Sharding is arguably one of the most paramount components contained in Ethereum’s scaling roadmap. But the Delphi Digital team believe that Ethereum’s sharding module has a serious communication issue.
On the matter, the Delphi Digital Team reports that:
“Take an example. Two smart contracts running on separate shards (about 1,024 shards considering the current specifications) could process their functions in parallel. Hence, having them speak to one another is currently a difficult proposal. Solving this problem remains critical for Ethereum’s long-term success.”
Vulnerabilities Within the Ethereum Code
The Delphi Digital report shows that the Ethereum (ETH) ecosystem is under a host of risks that are related to “intrinsic coding vulnerabilities.” Speaking on the matter, the team recalled that during the last few months, code issues have come up. They in the form of:
– The DAO hack
– The Parity multisig bug
– Constantinople upgrade delay
How low will Ethereum go? Could these issues affect ETH price? Let us know what you think