Benzinga - Ethereum (CRYPTO: ETH) co-founder Vitalik Buterin, on Sunday, discussed the dangers of over-engineering in blockchain development.
What Happened: Buterin emphasized the importance of simplicity and efficiency, and stated that an overloaded system can lead to increased complexity, security risks and slower innovation.
Buterin described how some blockchain projects tend to over-engineer their systems by adding unnecessary features or by trying to solve every possible issue. This approach can lead to a bloated codebase and a higher likelihood of bugs and security vulnerabilities.
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Why It Matters: This comes as the increasing popularity of Pepe Coin (CRYPTO: PEPE), a meme coin, has caused congestion in the Ethereum blockchain, leading to elevated gas fees. The gas fees on the Ethereum network hit a 12-month high earlier this month because of PEPE’s growing user base.
The PEPE craze is also responsible for the surge in volume on Uniswap, a decentralized exchange platform. In fact, during the first week of May, Uniswap surpassed Coinbase in terms of trading volume, with its trading volume reaching $1.2 billion, whereas Coinbase’s volume stood at $948 million.
Buterin suggested some solutions to address the risks related to over-engineering in blockchain development. He mentioned the use of price oracles but acknowledged that many of them are not fully decentralized and rely on validators for decision-making, instead of appealing to the L1 consensus for recovery.
Price Action: At the time of writing, ETH was trading at $1,810, down 0.26% in the last 24 hours, according to Benzinga Pro.
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