Ethereum’s Vitalik Buterin slams Elon Musk’s idea to increase Dogecoin block size and speed

Tesla Chief Executive Officer Elon Musk, who is still under fire after being blamed for the collapse of the crypto market last week, had this proposal to increase the block size of dogecoin to enhance its fundamentals, improve its speed and scaling and become a real contender in the world of cryptocurrency.

In his Twitter post, Musk said, “Ideally, Doge speeds up block time 10X, increases block size 10X & drops fee 100X. Then it wins hands down.”

But Ethereum co-founder Vitalik Buterin won’t have any of it, slamming and picking apart the idea on a blog post, explaining there are drawbacks and limits to what can be achieved with this proposal while also saying the job is not a child’s play.

Musk underselling the idea

With regards to blockchain scaling, Buterin said increasing block speed and size as well as reducing relevant fees compromises the fundamental properties of blockchain as a concept, making it too costly for decentralization.

The Ethereum boss also pointed out the need for technologies such as ZK-SNARKs or sharding, which the Tesla figurehead did not mention.

Zero-Knowledge Succint Non-Interactive Argument of Knowledge or ZK-SNARKs is a proof of construct that verifies possession of information such as a private key, doing so without revealing that data and free from any form of interaction from the verifier and the one being verified. Meanwhile, sharding refers to a way to split and store data across multiple databases.

Buterin defends his stance

Buterin defended his stance on the proposal, saying increasing block size will make running full nodes more difficult for dogecoin holders. He added that the culture of users validating the blockchain is a critical component of defending against malicious attacks.

The Ethereum top honcho offered his answer to the dilemma, saying the solution lies in maximizing the number of users who run a full node, ensuring node operation is possible on regular consumer hardware.

 

Image courtesy of Cointelegraph News/YouTube

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