It is known that the Bitcoin blockchain is certainly one of the most successful in the world. A performance that has made bitcoin (BTC), its native crypto, the most popular on the crypto market. Still, Vitalik Buterin, the co-founder of the Ethereum platform, thinks it is possible for Bitcoin to improve its operational efficiency and effectiveness.
Scaling solutions key to Bitcoin’s technical improvement
The technical relevance of the Bitcoin blockchain no longer needs to be demonstrated. You only have to remember the constant leadership of your native crypto on the market to realize it. But couldn’t the blockchain reach a new level in terms of technical and operational efficiency? The answer is yes for Vitalik Buterin, one of the co-founders of the Ethereum platform.
The manager clearly defended this idea during a discussion session around the challenges of the Bitcoin blockchain. However, he identified a major challenge: the speed of trade execution, which is notoriously slow on the platform. Buterin considers this problem to be mainly technical. However, he insists that this issue is also closely linked to internal blockchain policies. »
Regarding the transactional slowness of the blockchain, Vitalik Buterin has a solution. It consists of subjecting the platform to more scaling options. Without it, the crypto expert believes that the Bitcoin blockchain would be nothing more than a simple means of payment.
“I think if we want Bitcoin to be more than just a means of payment, it will need scaling options like Plasma or ZK Rollups”, said Vitalik Buterin. As a reminder, the alternatives mentioned have all been tested on the Ethereum blockchain.
The latter has in particular multiplied technical tests in recent years in order to improve the speed of the transactions it manages. At the very least, Vitalik Buterin believes Bitcoin stakeholders need to keep an open mind. This, inspired by the strategy implemented by Ethereum.
This should also allow it to soon reach an execution speed of 100,000 transactions per second. This, through EIP-4844, its latest technical update, currently being tested. In this vein, Vitalik Buterin believes that Optimism and Arbitrum are two successful cases of possible scaling solution for Bitcoin.
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