Ethereum is currently handling 800,000 transactions a day, bitcoin is at around 200,000. The two are fundamentally similar, so then it must mean ethereum simply has a bigger blocksize?
It is an assumption bitcoiners very understandably make. We did too once and found out to be very mistaken when the sudden coming into life of ETC shocked us fully for we thought eth would have the same difficulty re-adjustment as bitcoin.
It doesn’t. Eth re-calculates those Proof of Work difficulties every block, unlike bitcoin which does so every two weeks. A slight change, but big consequences where assumptions are concerned.
Afterwords we learned of many other differences. It is easy to say and one naturally assumes eth is pretty much bitcoin, but just how much it isn’t you do pretty quickly learn if you have the privilege of what we do and see an eth developer ask: what is FIBRE?
We still call the gas price a fee in these pages. We still call uncles orphans. But that’s because we have to TLDR just as much as be accurate.
We hope and think developers read us, so we try whenever given the opportunity to go into detail, to educate them too if we can, but certain things can not be taught by words, one simply has to see or feel it first hand.
One such thing is the matter of ethereum nodes, their size specifically. If you are a bitcoiner, you know what a node is. It’s the software you download that allows you to verify all things.
If you are a veteran of the blocksize debate and you fall on the tiny blocks end, you think that node needs to be kept small, otherwise no one will be able to run a node unless they have a bit of money.
As such, ethereum handling three times more transactions than bitcoin, in that worldview where random first come first served Bitcoin Core developers are the experts, must mean ethereum nodes have 3x the demand.
So imagine their inability to comprehend when they are told ethereum has the ability to store all Unspent Transaction Outputs (UTXOs), or states, which bitcoin doesn’t really have, and has the ability to have a bitcoin like full node, and has the ability to have a light client, and then of course has the ability to have smartphone wallets.
But how? What is this witchery? How do you have this big 1TB blockchain with all these UTXO states no one cares about, then this full node like bitcoin’s that can somehow compute all the states from a compressed 80GB without needing all that terabyte, then all the rest too. All those UTXOs no bitcoin node keeps must be the real blockchain. The rest is fake. I is idologue, needs full everything.
That’s half the fun of seeing fools realize in real time that they are actually being fools in this instance and in this special occasion even know they are fools, and know all others do too.
Imagine when, in addition, they hear block headers have the state in them. Impossible! Oh but Cohen and Todd are having a row over how to bring that into bitcoin. What is this witchery?
The best part is these kids, all frothy mouthed, try to go into ethereum spaces to tell em: waaa you doing it all wrong, look how big your blockchain is getting, bitcoin best way eva.
Then they get told ethereum is currently running at 1MB every ten minutes, just as much as, if not perhaps slightly less, than bitcoin. So there is no additional storage required, or bandwidth, or indeed anything.
On that very regard, ethereum is indeed quite the same, and that’s without ethereans utilizing centralized dangerous block propagation individually controlled FIBRE that rules all bitcoin miners, which should hopefully soon be replaced by proper BloXrouter in due course.
That’s indeed without ethereum engaging in any slight efficiencies at those edges, besides somehow managing to get 3x more transactions into a 1MB block than bitcoin can.
And that’s because they’ve chosen to utilize their limited resources towards proper solutions, like sharding, or Plasma, or invoice systems similar to the Lightning Network, or state channels, or maybe Loom Network EOS like DPoS chains, or…
Endlessly on. Endlessly because ethereum happens to be a platform. And while some glee at this platform being chained, at all the dapps somehow being chocked, and communicate their glee by dressing themselves as borgs, lacking the awareness to even ask if we are dressed like the baddies and look like the baddies are we the baddies, there happen to be others who can very quickly learn how to checkmate.
A blockchain that does not scale, as these fools admit, is not a blockchain of worth or use. Is not a blockchain of any interest to anyone. It is a slave chain.
A slave chain serving other layers is a slave chain squared. But if we wished to be slaves we would have no chains whatever, let alone unscalable chains.
By words they think they have a say, oblivious to the power of code. A ra here, a misinformation there. The cutest of them all are these lot.