TomoChain Founder Signals Bad Year For Vitalik’s Ethereum

Feb 17, 2019 at 13:44 Update Date :Feb 17, 2019 at 13:44 UTC

Blockchain TomoChain’s founder, Long Vuong, has hit back at Ethereum founder Vitalik Buterin for the latter’s comments on how many blockchain projects claim to provide high transaction speeds, quoting them as ‘a centralized pile of trash’.

This remark from Buterin, which supposedly came out during the Blockchain Connect conference at the start of the year, said that he considered projects boasting of high transactions speeds as being more centralized in nature than Ethereum.

Vitalik’s exact words were:

“A lot of the time when a blockchain project claims it can do 3,500TPS because it has a different algorithm, what it really means is ‘we’re a centralized pile of trash.”

TomoChain, however, is not just any boasting blockchain project and in fact does provide faster and cheaper transaction fees, two of its many prime features.

Vuong’s blockchain network has already surpassed transaction speeds upwards of 1,000TPS – a significant factor considering Ethereum’s blockchain only manages to reach double digits.

Vuong recently stated:

“There are trade-offs in most systems. But Vitalik won’t be the one who makes the call about what’s trash and what isn’t.”

Showing no intent to spare Vitalik of general courtesy, Vuong further said:

“This year won’t be a good one for Ethereum… Vitalik and Ethereum are in a difficult place. On one hand, they are disrespected by the Bitcoin maximalist camp, on the other they cannot seem to solve performance issues efficiently.”

TomoChain is a new project aiming to mature into an EVM-based blockchain and the network already has significant achievements against its name, not to mention speeds of 1,000TPS and upwards, an architecture of 150-Masternodes and lower transaction fees.

The company launch in December 2018 was done with the intent to provide a feasible solution to Ethereum’s scalability issues.

Apart from this, it is based on a Proof-of-Stake voting (POSV) consensus.

TomoChain could indeed spell trouble for Ethereum since most of the ETH DApps remain inactive and if it manages to resolve the scalabilty issues experienced by ETH users, this year could certainly turn bad for Ethereum.

Also Read: CEO Pits Dash As Best Alternative Currency Against Venezuela’s Bolivar

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