Former chief engineer of JP Morgan's blockchain project Juno: Nothing on Ethereum can scale
Editor's Note: This article comes fromCointelegraph Chinese (ID: CointelegraphChina)Editor's Note: This article comes from
Cointelegraph Chinese (ID: CointelegraphChina)
Cointelegraph Chinese (ID: CointelegraphChina)
, Author: Michael Kapilkov, reprinted with authorization by Odaily.
Will Martino, former chief engineer of JPMorgan Chase’s first blockchain project Juno, shared with Cointelegraph his views on Consensys’ acquisition of JPMorgan’s blockchain platform Quorum. He argues that while the technology was great for its time, it has inherited fundamental flaws from Ethereum (ETH). After leaving JPMorgan, he founded Kadena, a proof-of-work blockchain that uses sharding for scalability.
While there are few details about ConsenSys' recent acquisition of Quorum, it's important to note that JPMorgan Chase was investing in ConsenSys at the same time as it spun off Quorum. Martino believes that JPMorgan's investment is above the price of Quorum. For JPMorgan, he argues, this could be an easy way out of a dead-end business unit:
Quorum is a real attempt to give Ethereum technology a foothold in an industrial setting. But it's being repurposed, and I really don't think Consensys will make much progress. In my opinion, I think they're primarily buying the brand, and from that perspective, they're only able to market using the Quorum trademark and intellectual property.
The real problem with Quorum is that it doesn't scale, Martino said. This might come as a surprise considering it was forked from Ethereum and does not involve mining. However, according to Martino, the problem runs deeper, stemming from the Ethereum Virtual Machine (EVM):
So, when you use something, like the EVM, which was never a bottleneck on a public blockchain, and then you put it on a private blockchain, all of a sudden, it can easily become a bottleneck. This is one of the reasons why Quorum has a lot of trouble executing more than 200,000 transactions per second.
