Ethereum Istanbul — Faster, but Still Not the World Computer
Cointelegraph By Miko Matsumura's original article for cointelegraph.com reduced by 78%
Vitalik Buterin has claimed that Ethereum will support 3,000 transactions per second after the upcoming Istanbul fork. The mistake people are making in saying "Ethereum is slow" is misunderstanding what a great thing, counterintuitively, it is to be slow. If Ethereum is congested, it means that there are more people who want to pay to have Ethereum computations than there are the capacity to allow it.
Istanbul will make Ethereum's consensus a bit faster, but the term "World computer" seems hyperbolic, as it suggests there could be a singular device that handles the world's computational needs. Ethereum's current state is more akin to a "Trust Machine" - to borrow the name of Alex Winter's blockchain documentary - than a "World computer." One of the great things about the increase in performance is simply to increase the capacity of existing apps, and to enable more similar apps to run on Ethereum. The performance increase from Ethereum Istanbul seems unlikely to produce as-yet-unseen types of applications.
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