Ethereum’s long-awaited Casper update seems to be making strides as a newer version of the code has been released by the developers earlier this week. The price seems to have reacted, marking a slight increase.
At press time, ETH was trading for $761.86 which is roughly a 2% price increase over the past 24 hours according to CoinMarketCap. The slight price improvement could be attributed to the news that the first version of the planned Casper update was released on Tuesday, May 8th.
Ethereum’s Scalability Issues
It goes without saying that Ethereum has managed to establish itself as the predominant platform for the development of Decentralized Applications (DApps). Nevertheless, scalability issues have pushed developers towards identifying appropriate alternatives, choosing platforms such as Stellar or NEO.
The Ethereum blockchain is currently using the Proof of Work (PoW) consensus algorithm. It requires a substantial amount of computational power to boast satisfying performance. It can currently process between 7 to 15 transactions per second, which is quite low. NEO’s transaction speed, for example, is a much faster 1,000 TPS.
To their credit, Ethereum’s development team hasn’t shied away from the problem. Addressed through an update known as Casper …
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