[English] Interview with Vitalik Buterin: Ethereum scaling, its popularity in Asia, and ICO

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Interview with Vitalik Buterin: Scaling Ethereum, its popularity in Asia, and ICOs

In an interview with Bitcoin Magazine, Vitalik Buterin, co-founder of Ethereum, discussed several challenges currently facing Ethereum’s scaling, the growing interest in Ethereum in Asia, and his views on the ICO ecosystem in general.

In late May, developers on Ethlance, a job marketplace platform based on Ethereum, shared issues their freelancers were facing. A year ago, when Ether—the Ethereum token—was around $14, smart contracts used to create freelancer profiles on Ethereum cost nothing at all.

As Ether price surged above $250, Ethlance freelancers began paying about $8 to create profiles. Due to applications built on Ethereum (DApps) and rising transaction costs on Ethereum, the Ethereum community and supporters grew anxious about the platform’s scalability.

Discussion of Ethereum’s scaling issues intensified after an interview with Mr. Buterin conducted by Epicenter in December 2014 was uncovered. In that interview, Buterin called Bitcoin’s $0.05 fees “ridiculous.” Today, Ethereum’s average fees exceed $1, with a median around $0.05, coming close to the price he previously deemed ridiculous.

Bitcoin Magazine’s interview with Buterin covered several scaling challenges Ethereum applications are currently tackling, rising transaction fees on Ethereum, and the ICO ecosystem.