What are some of the challenges facing developers when building applications on top of the network/platform ?
One of the main challenges facing developers when building applications on top of the Ethereum network is scalability.
The Ethereum network is currently limited to processing around 15 transactions per second, which can be a bottleneck for applications that require high throughput. Additionally, as the network grows and more users join, transaction fees can become expensive, making it difficult for developers to build applications that are cost-effective for users. Another challenge is security.
As with any blockchain-based platform, there are potential security risks associated with developing applications on top of Ethereum. Developers must ensure that their code is secure and free from bugs or vulnerabilities that could be exploited by malicious actors. Additionally, developers must be aware of potential attacks such as 51% attacks or double-spending attacks that could potentially disrupt their application or cause financial losses.
Finally, developers must also consider the complexity of developing applications on top of Ethereum. As a decentralized platform, Ethereum requires developers to have a deep understanding of blockchain technology in order to create secure and reliable applications. This can be a challenge for developers who are new to blockchain technology or who lack experience in this area.
