Vitalik Buterin created Ethereum when he was 19 years old, currently 27 years old (8 years later); the founder mentions the importance of different cryptocurrencies making alliances. This is a way to achieve leverage and scalability. For example, he mentions the case of Dogecoin (DOGE), a cryptocurrency for which he has a “great affinity” (he even mentions that he has some Dogecoin); Buterin suggests that it would be positive if there was a collaboration between Dogecoin and Ethereum to improve the scalability of both cryptocurrencies.
A safe bridge between both chains
If there is a collaboration between Dogecoin and Ethereum (using this as a hypothetical example), Vitalik comments that people could get a “secure bridge” between both networks that would allow Doge to exchange thousands of times per second within Loopring (decentralized exchange protocol built on Ethereum), or even have zkRollup technology (technology that seeks to solve the scalability problem in Ethereum) to achieve thousands of “transactions per second” within its own ecosystem, mentions that this agreement would be a “win-win” As we would be seeing great collaboration with new features and great benefits for users.
If an interaction between both blockchains (Dogecoin and Ethereum) could be achieved, this would also help the scalability of Ethereum, since, with this alliance, several benefits are created for users, for example, Dogecoin exchange with meager transaction fees and very high speeds. However, Vitalik mentions that the technology needed for this interaction to take place is still in the “development phase” or in its “first steps.” Still, if its development is completed, this technology could bring many benefits to the sector.
Vitalik comments that, although fragmented blockchains can scale more because no node in the said chain needs to process all transactions, even in this case, there are still obstacles to their capacity, however, if these obstacles are overcome in the future, cryptocurrencies would have an effective way to jointly leverage and improve their scalability.
What do you think about this topic? Do you think there will be cryptocurrencies that make alliances?
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