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Ethereum [ETH] does not have scaling issues Bitcoin [BTC] does, says’s George Hotz

Ajay Narayan



Ethereum [ETH] does not have scaling issues Bitcoin [BTC] does, says's George Hotz
Source: Unsplash

During the San Francisco Blockchain Week [SFBW], BCH DEVCON, series of global hackathons made its debut to the public. Recently, George Hotz, the Founder and Head of research at shared his thoughts on Ethereum, dApps, and Lightning Network.

George stated that he had recently studied Ethereum’s Geth in full and according to him Ethereum was a great platform for bug bounties. He added:

“If you like find the exploit you and you run it, then you get money very in exchange and it’s pretty cool”

He further added that the contract itself was a bounty and individuals would not need a developer. If they are capable of hacking the contract then they get paid. In addition, the process is not illegal because a hacker would just be running a code on the Ethereum platform.

George was asked about the ongoing developments and ICO projects where Ethereum was not able to handle the increased load and if Ethereum could overcome such problems of scalability in order to achieve global mass adoption.

According to George, problems of scalability on the Ethereum platform was a myth and Bitcoin [BTC] was the only cryptocurrency which had scaling issues. He further added that Ethereum could have problems in scalability if they were used to run Crypto Kitties. However, he stated that “the truth is nobody uses dApps for anything”.

George also spoke about Bitcoin and its scaling issues. He also commented on the Lightning network and if it was an appropriate solution for Bitcoins issues. George stated:

“I just know that at one point in my life I paid $17 for a Bitcoin transaction and that does kind of stick with you I don’t know lightning looks complicated and like it doesn’t work or I would agree maybe it works”

George Francis Hotz is an American hacker famous for unlocking the iPhone and allowing the phone to be used with other wireless carriers which is contrary to AT&T’s and Apple’s intentions. He also developed the limera1n jailbreak tool and bootrom exploit for iOS. As of September 2015, George is working on his vehicle automation machine learning company

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Ajay Narayan is a full-time journalist at AMBCrypto. He has majored in Economics, Political Science and Sociology. His interests are inclined towards writing and investing in cryptocurrencies.