Bitcoin and the scaling debate has been present in the crypto community in the last years. It has generated controversies and divided the community as it happened with Bitcoin Cash (BCH) for example. The same can happen with BCH in November when it will implement a hard fork to continue its scaling plans.
In the last week, a developer found that Bitcoin had a bug that would have allowed a malicious hacker to mint BTC out of thin air. The community of developers was able to fix the problem, but this showed that more upgrades on the Bitcoin network could be harmful for the virtual currency.
Weiss Ratings, an important and recognized company that provides financial ratings to companies and virtual currencies, suggested that Bitcoin could become a multi-network currency using sidechains.
#Bitcoin could become a multi-network currency via sidechains. We think that developers are more likely to choose to build on a platform that can scale on chain – like a faster version of #Ethereum – not bitcoin sidechains. At least not yet. #btc #ETH #crypto #xrp
— Weiss Ratings (@WeissRatings) September 26, 2018
Weiss Ratings might be suggesting that Tron could be a better blockchain compared to Ethereum since it can handle more than 2,000 transactions per second. The Tron project is working at all times to improve its network and integrate more companies into its system.
At the moment, there are several applications being developed on Ethereum, and the network is running at full capacity. At the beginning of the year, Ethereum has shown several problems when it tried to handle an important amount of transactions.
This is what Afri Schoedon, developer at Ethereum said. On a Tweet written on September 20, he said to developers to stop deploying d-apps to Ethereum. Then he suggested to use other projects such as Ethereum Classic which have a lot of capacity and are well supported by MyCrypto or MetaMask.
Vitalik Buterin, co-founder of Ethereum, explained that he does not agree with the statement made by Afri Choedon. He said that most decentralized applications have room to gas-optimize.
Moreover, Tron’s CEO Justin Sun, decided to answer Afri Choedon asking developers to stop deploying d-apps on Ethereum and migrate to the Tron network. He then said that Tron is 100x faster than Ethereum and at the same time, fully compatible with it.
Yes! Please stop deploying d-apps to Ethereum and migrate to #TRON network immediately! We are 100x faster than #ETH and fully compatible with #ethereum. We 100% guarantee better user experience! #TRX $TRX https://t.co/gRCtOC0rIS
— Justin Sun (@justinsuntron) September 24, 2018
Bitcoin developers and users could start using Tron, and/or other virtual currencies, to avoid high fees and possible bottlenecks both on Ethereum and Bitcoin. Using TRX it is possible for other virtual currencies to eliminate the need for sidechains.
Bitcoin developers are currently working on the so called Lightning Network, which is an off-chain scaling solution to improve Bitcoin’s transaction times and reduce fees.