Ethereum’s Issues Stem From the Basics

Ethereum is certainly #2 in the market capitalization only second to Bitcoin but it doesn’t mean it’s as easy to use.  In fact I suspect my recent experience is what is keeping it from rising, Ethereum makes me nervous and reluctant to use it everyday. As someone who has used the client’s/wallets for both I find Ethereum’s is cumbersome and at times impossible to use, thus preventing the user from using it to do any transactions at all.

Imagine if a simple eTransfer or Wire from your bank took over a week to initiate?  That’s way too long and beyond the purpose of the infamous but in practice non-realtime transactions in the cryptoworld.

I spent nearly a week syncing 4 months of blocks!

I needed to do a transaction in Ethereum and opened up my Ethereum Client which slowed my whole computer down and ultimately wouldn’t update past a certain point.

I consider myself an above average user who is good at troubleshooting issues.

I updated to the latest Ethereum client and that still didn’t fix it.

Some users suggest deleting the “chaindata” folder and that didn’t fix it.

Eventually I decided to do delete the whole “Ethereum Wallet” folder (never do this without backing up your keystore files safely).  Also be aware that this folder “Ethereum Wallet” is not where your keys/wallet data are stored.  In Linux they are stored in “~/.ethereum/keystore”which is very misleading when you have a “~/.config/Ethereum\ Wallet” (which is not where your wallet data or keys are stored).  I stress this because I came across many who had sworn off the Ethereum Coin and team because of this confusion where they lost their keys and ultimately their investment and coins.

The solution was to delete “~/.config/Ethereum\ Wallet” but the fun didn’t stop there.  It was updating so slow through the missing blocks that it felt like I was mining the entire blockchaining (you could literally count 1 by 1 as it was processing or sometimes it would take minutes on a single block).  I’ve been able to sync the whole Bitcoin or Litecoin Blockchain more quickly and without or much impact on my computer.

I decided to switch the chaindata for Ethereum to SSD it did speed things up but not significantly and still took about a day to catch up and my computer still did slow down.

What I Learned About Ethereum

For all of its features I think the team is out of touch with getting the basics right first, as evidenced by the “Parity” fiasco where through no fault of the users people have essentially lost or have 160M worth of Ethereum coins frozen and lost presumably forever.  I have never seen this with another major coin.

Nor have I seen or experienced the confusion on basics of why their client is so complex.  Why does it use another program geth to sync the data?  Why are there so many different choices, fast sync (which didn’t help speed things up for me), a MIST client and so many different confusing and unnecessary choices and complexity?

I like how I can just download the Bitcoin client or Litecoin client and it works simply, there’s no guessing or confusion.

When it comes down to it, if someone with my background is having to troubleshoot and it slows me down from doing transactions, or I fear my coins could randomly be lost it doesn’t bold well for Ethereum’s future.  I don’t mind leaving other wallets running but Ethereum just takes too much computing with SSH so it’s not practical.  I will consider Ethereum a wise investment with some risks I’ve highlighted above but for any cryptocurrency to truly be accepted and successful it must be secure, fast, reliable and easy to use (something which most cryptocurrencies still fail at if not for the reason that you require the whole blockchain to keep your money in your own possession or have to rely on dangerous uninsured third party exchanges or services that are often hacked).

As we can see below this is not a sustainable practice for cryptocurrency going forward and I will be posting more about how I think the future of crypto will be significantly different than we currently see.

Screenshot-Ethereum Wallet-19

Why Don’t I/We Use RHEL Red Hat Enterprise Linux Instead of Centos?

This a question one of our good client’s asked me one day and I have to admit I wasn’t prepared for this one, it’s something we’ve never put active thought in but was rather a matter of instinct. While we do use various OS’s for different platforms including our own in-house Linux, Cloud, Hosting Control Panel, applications and clients including BSD based OS’s such as FreeBSD, this is something we’ve never been asked.

RHEL (Red Hat Enterprise Linux) has been a clear leader since the early days of providing a standardized, mission critical platform for business applications in the Linux/Unix environment. It was actually my first Linux install back when I was in highschool and I’ve personally maintained Unix/Linux systems for over 16 years now. In that time I have found the strengths and weaknesses of RHEL in terms of our business and clients. However, the Centos project is a legal clone of RHEL with the only difference being artwork and the name Centos it functions identically as RHEL and is completely Open Source.

Since our team of experts does everything in-house we don’t really on Vendor support, it means when something is going on with a server we can solve the problem on our own very quickly with our own team. We don’t have the need to call a third party and ask how-to fix the problem and in fact it’s quicker for us to just do it ourselves whereas I’ve learned many organizations heavily rely on this type of third-party support. The goal with my ventures has always been that our teams should be self-sufficient for both security and efficiency.

Centos being Open Source is a huge advantage for us, we can customize and redistribute OS’s and deploy them on servers without having to touch a button or connect to monitor or KVM (yes I do realize RHEL can be installed headless/kickstart but not in the way we deploy our custom OS images-possibly for another blog). The only con with Centos is that there is a small delay in updates since it depends on the upstream source which is RHEL but this is a minor issue and all major updates are done to Centos almost instantly.

To conclude, my hats off to Linus Torvalds for inventing the Linux Kernel, the RHEL team and especially the CentOS team and I hope this explains why CentOS for my company’s is the best fit for our needs at the moment.