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In defense of Ethereum (now that gas prices are very high)

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by COINS NEWS 55 Views

I am seeing a lot of criticism towards Ethereum in this sub now that gas prices are very high at Layer 1. Because of this, I want to provide a counterargument in defense of Ethereum.

The internet was too slow for what we now call Web2 at one point β€” until it wasn't anymore. Everybody from that era remembers the dial-up 28.8-56.6 kbps modems and the struggles of that time, yet the technology eventually caught up with popular demand and here we are.

I believe the same thing will happen with Ethereum, and we will look back at these ridiculous ETH gas prices the same way we do with those slow-ass internet speeds and laugh.

Ethereum is not poorly designed, it is just prioritizing security and decentralization over speed right now (a.k.a. the blockchain trilemma), and rightfully so I might add.

submitted by /u/elrubiojefe
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