Is Ethereum The Ultimate Blockchain Technology?
Blockchain has changed the human transaction system, it is the bedrock for cryptocurrencies and shared ledger/assets. Nothing beats having a significant control of your data, tracking transactions and asset transfer.
There have been many ecosystems that leverage on blockchain technology as framework, the significant first being Bitcoin, absolute jet-off it has proven to become, but so far, which is the ultimate ecosystem that has used the power of blockchain to the near utmost potential?
Ethereum has broadened the horizon of cryptosystems, the idea of leveraging on it for a project that isn't financially independent enough to have its own blockchain is a lot, depending on its architecture to provide security, transaction speed and finality is a fabulous idea.
Ethereum ecosystem have its flaws, gas fee is quite high, sometimes higher than the transaction processed, pending finality and transaction throughput is something of a worry, there are no absolutes. Ethereum 2.0 seeks to eliminate these, but there isn't much to be admired.
The best bet is transacting off-chain, Plasma, Raiden, Smart-Chain, Nahmii and more, these ecosystems use what is called a Layer 2 scaling solutions to get transactions done off-chain while blustering the following:
Instant Finality.
High transaction per second.
Low and predictable transaction fees.
Low Latency.
Depending on the L2 scaling platform, there are similarities and differences and how they interact with their communities.
Before venturing into any L2 solution, it is best you do your own research and decide which is best suitable to you.
Ethereum leveled the playing field for those who want to get in on the act to have a chance to build on its blockchain technology and as well ease the burden of high transaction gas fees.
Cryptocurrency and other crypto assets are still in its infancy, but Ethereum have opened the door to endless possibilities.
We can't say ultimate when the technology of crypto is still evolving. And until we know the end of the crypto future we can only but compare the advantages of one over the other.