During an appearance at a recent event: Blockchain Connect Conference, Vitalik Buterin Ethereum co-Founder spoke at length about different topics related to the Ether ecosystem as well as other popular crypto platforms. He started off by answering questions regarding the upcoming the upgrade event of ETH and its long term effects.
Most importantly, Vitalik also threw some shade at some blockchain projects such as EOS, NEO, and Tron. He even claimed that the those projects were not worthy of being compared to Ethereum.
On the subject, Buterin was quoted as saying:
“So I’ve noticed a lot of misconceptions here. Because, like, there’s a lot of like, honestly, bad crypto projects that try to claim. ‘Oh, because we use fancy BFT, we can do 5,000 transactions per second and proof-of-work can only do 15.’”
In addition, Buterin mentioned that the important thing if we are speaking about the ability of a blockchain to process transactions is consensus. According to him, the main purpose of a consensus algorithm is not about making a blockchain fast. It rather for a safety purpose.
Moreover, he explained why he’s not in favor of on-chain governance structures like EOS by stating.
“A couple of years ago I would have been more firmly in the Tezos-EOS camp that says there should be explicit on-chain governance. And now, I’m like absolutely against that, and I think that stuff is crazy. So if you look at EOS, EOS has these 21 delegate slots. And to get into one of these delegate slots you have to basically vote – or you have to have people with enough coins vote for you.”
The Ethereum co-creator spoke out against a number of other platforms that have recently disparaged ETH by claiming to have a higher “transaction volume potential”. He said:
“When a blockchain project claims ‘We can do 3,500 TPS because we have a different algorithm,’ what we really mean is ‘We are a centralized pile of trash because we only have 7 nodes running the entire thing.’”
The last bit of his statement seems specific to NEO. It actually have 7 consensus nodes running.
Certainly, this is not the first time that we hear something similar from Buterin. In fact, few arguments was made by him and Justin Sun, CEO of Tron.