From Cointelegraph
Bitcoin, Ethereum and other high-profile cryptocurrencies are embroiled in debate these days, as companies and individuals seek other sources for transactions outside of simple fiat currency.Read more: https://cointelegraph.com/news/vitalik-buterin-ethereum-will-have-visa-scale-transaction-capacity-in-2-yearsEthereum, the Blockchain technology-based application platform, has gained increasing popularity with developers and individuals alike. The platform is being utilized especially heavily with the ICO boom that has occurred in recent months.
Buterin on the power of Ethereum
Vitalik Buterin, speaking at TechCrunch Disrupt 2017, indicated that the platform has the capacity to change much of what is known about data and security. His comments included a strong indication that Ethereum will have the transactional power to equal Visa in the next two years. Buterin said:“Bitcoin is processing a bit less than three transactions per second. Ethereum is doing five a second. Uber gives 12 rides a second. It will take a couple of years for the Blockchain to replace Visa.”
Do you believe he will pull it off? If so, the flippening could be fast approaching.
Leave your thoughts in the comments below.
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And what will Visa be doing during those two years? I doubt it will be sitting idly as it passes into irrelevance. I sense big things coming to crypto, but not the open crypo we know today. The big guys will come and sweep up market share is my prediction.
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but at least crypto will be actually useful to pay for groceries and coffee in the real world. What we really need are really cheap transaction fees.
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Exactly. And all banks too. And we gonna bitching about corruption, manipulation and so on.
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Ethereum definitely brings some things to the table that bitcoin lacks, but there are other coins that are seeking to do this as well such as QTUM and NEO so if Ethereum falters look for those two to take its place
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QTUM and NEO are just chinese versions of Ethereum. Ethereum has all the developer and the first mover advantage. We will see...
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Hfollow you and upvoted
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Thanks for the update.
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Maybe someone could enlighten him about steem and BTS.
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and you can deploy smart-contracts on BTS and steem ?
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He'd rather sweep it under the rug.
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In Vitalik we trust..and the dude has a shirt with rainbows, unicorns, AND ufo's!
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every coin has the potential of its own one company lack can e advantage of the other
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very impressive
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Good post
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This post has received a 37.36 % upvote from @bellyrub thanks to: @contentjunkie.
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This post has received a 14.71 % upvote from @booster thanks to: @contentjunkie.
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Resteemed.
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Let's be realistic, the blockchain will not replace or seriously rival Visa in two years. Layman adoption simply does not happen that fast and Visa is less volatile as it is in the currency in which people get their paychecks so to them at least it feels more stable.
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no one said it will replace or rival Visa. The only thing what Vitalik said was that Ethereum will handle transaction throughput in Visa-Scale. Nothing else. Crypto will still need a few years. We are working on a Stablecoin on the Ethereum Blockchain called DAI, check out www.makerdao.com
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Oh, yeah, you are right. Transactional power not volume, my bad :)
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