Will Censorship be the end of the Ethereum Network?

[Jawhead999]

Ethereum isn't have any use cases, the big part of Ethereum is many projects are using their chain because it's the biggest tokenization chain. It's centralized, nothing different with fiat, as sooner or later most projects are migrated to other network which cheaper than Ethereum, Ethereum will not able become top 2 position. Mixing service doesn't make Ethereum network end because not all users are using mixing service.

[bittraffic]

I don't think that there will ever be a project that will surpass Ethereum as of the moment. The fact that it's grown a lot and with this transition, it's making the rich folks be richer and that's what they like from it. So, huge capitalization will remain on it as it gives these huge part of its network the advantage to take on the lead as they help Ethereum also remain on its state. Being a PoS now really has changed it into a less censored project and let's see where it'll be in the next years.

So many ETH killers were made in the past but they didn't kill ETH. Popularity is still one factor that made ETH to be the top altcoin despite this POS change.

Nothing yet had been censored so far. Maybe us paranoid so much about the issue being ETH compromised. I'm not very confident however if they are not going to censor when the validators controlled it all.

[rokok lokal]

I don't think so, in fact censorship resistance is one of the main features that makes the Ethereum blockchain so strong. The Ethereum blockchain is not based on a single source of truth but rather on consensus, which means we cannot force changes without following the rules set by the community itself.

I really believe in the Ethereum concept, and I think it can bring great prosperity to many parts of the world. But no system ever survives without end users and investors, and they will want a secure network they can rely on.

[jrrsparkles]

With the recent issue with Tornado cash and some other users complaining about transactions being censored over the ethereum network we are seeing a wide range of problems coming in. Apart from this behaviour being everything that Satoshi did not advocate for, it goes against all the principles that cryptocurrency stands for. Well, for me Eth died back in 2016 with the DAO event and with the recent events and the POS fork and see it as dead.

Of course that even so, Ethereum is still the leading network but slowly developers are turning to alternative networks, so the future of ethereum may be compromised.

What are your thoughts on these recent events? And what project do you guys believe could surpass Ethereum?

Ethereum is really concentrating on the dapps instead of using the native coin as currency that is why the developer had no other option to switch from PoW to PoS which affects the decentralization but the utilisation has been increased which reduced the transaction fee especially token transaction a lot so people are happy with that perspective and for someone who loves the complete anonymous has other options so just go for it.

[Blawpaw]

I wouldn't call it dark, I would call it as logical and realistic as possible. Look around you, almost the entire industry has been influenced by kyc and regulators. Most countries around the world have created their legislative frameworks and taxation for cryptocurrencies. And all of this is part of centralization and control. Any centralized exchange that supports kyc and aml policies can block and confiscate cryptocurrencies. Also, cryptocurrencies have political censorship and sanctions that prevent certain citizens from using cryptocurrencies and using services. That's a full-fledged control and regulation.  How do I see the future of cryptocurrencies? Fully regulated. Alas, there is no trace of the original intent of cryptocurrencies themselves. Cryptocurrencies were supposed to fight the oppression of central banks and governments, but that's not how it turned out. These same bankers and governments control cryptocurrencies and dictate their terms. People do not use cryptocurrencies as an alternative to fiat, they seek to exchange cryptocurrencies for fiat, through various speculations.

Governments will continue to increase control and regulation. The reason for this is that once worthless coins, once worth very little and taken seriously by few, have become worth very much and a huge value has been transferred through the blockchain. Billions of dollars. Now it is a full-fledged industry, and governments, along with banks, will not miss the opportunity to make it all work for them.
[/quote]

I completely agree with you. And that is basically the end of the main concept that Satoshi envisioned if that rolls as you say... Even so, I do believe that there will be alternatives. If we can escape the ethereum oppression by finding a truly decentralized alternative, then we may keep and maintain Satoshi's vision. With CBDCs coming in soon, it will be either that or we will be back to fiat paper cash as it is still the most anonymous form of transacting...

[Blawpaw]

I wouldn't call it dark, I would call it as logical and realistic as possible. Look around you, almost the entire industry has been influenced by kyc and regulators. Most countries around the world have created their legislative frameworks and taxation for cryptocurrencies. And all of this is part of centralization and control. Any centralized exchange that supports kyc and aml policies can block and confiscate cryptocurrencies. Also, cryptocurrencies have political censorship and sanctions that prevent certain citizens from using cryptocurrencies and using services. That's a full-fledged control and regulation.  How do I see the future of cryptocurrencies? Fully regulated. Alas, there is no trace of the original intent of cryptocurrencies themselves. Cryptocurrencies were supposed to fight the oppression of central banks and governments, but that's not how it turned out. These same bankers and governments control cryptocurrencies and dictate their terms. People do not use cryptocurrencies as an alternative to fiat, they seek to exchange cryptocurrencies for fiat, through various speculations.

Governments will continue to increase control and regulation. The reason for this is that once worthless coins, once worth very little and taken seriously by few, have become worth very much and a huge value has been transferred through the blockchain. Billions of dollars. Now it is a full-fledged industry, and governments, along with banks, will not miss the opportunity to make it all work for them.

I agree with you but have some reserves. It would be the end of the main concept that Satoshi envisioned for cryptos if that rolls as you say... Even so, I do believe that there will be alternatives. If we can escape the ethereum oppression by finding a truly decentralized alternative, then we may keep and maintain Satoshi's vision. With CBDCs coming in soon, it will be either that or we will be back to fiat paper cash as it is still the most anonymous form of transacting...
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[Silberman]

Ethereum isn't have any use cases, the big part of Ethereum is many projects are using their chain because it's the biggest tokenization chain. It's centralized, nothing different with fiat, as sooner or later most projects are migrated to other network which cheaper than Ethereum, Ethereum will not able become top 2 position. Mixing service doesn't make Ethereum network end because not all users are using mixing service.

Apart from bitcoin, all other networks are equally centralized. ETH has dominated the 2nd place for the past many years, despite its high gas fees, no network has been able to beat it yet. After migrating to POS and other updates will be rolled out in 2023, once it completes all remaining updates then other networks will have a harder time in the race to be the top altcoin with eth.

Over the years there have been many projects that tried to challenge the dominance of ethereum, and while at the beginning they had some success at the end they failed on their objective of trying to replace ethereum as the second best coin in the market, and even if I do not agree with this transition to POS it seems this could help ethereum over the long term and it could become even more competitive, which will make it more difficult for future projects to surpass it.

[Polkeins]

Ethereum isn't have any use cases, the big part of Ethereum is many projects are using their chain because it's the biggest tokenization chain. It's centralized, nothing different with fiat, as sooner or later most projects are migrated to other network which cheaper than Ethereum, Ethereum will not able become top 2 position. Mixing service doesn't make Ethereum network end because not all users are using mixing service.

Apart from bitcoin, all other networks are equally centralized. ETH has dominated the 2nd place for the past many years, despite its high gas fees, no network has been able to beat it yet. After migrating to POS and other updates will be rolled out in 2023, once it completes all remaining updates then other networks will have a harder time in the race to be the top altcoin with eth.

Over the years there have been many projects that tried to challenge the dominance of ethereum, and while at the beginning they had some success at the end they failed on their objective of trying to replace ethereum as the second best coin in the market, and even if I do not agree with this transition to POS it seems this could help ethereum over the long term and it could become even more competitive, which will make it more difficult for future projects to surpass it.

It seems to me that it is the stability of the network and the reliability that the ETH had when it was based on the POW algorithm and contributed to its spread, and I think that now the owners of ASICs and GPU probably still remember the time when you could mine ETH as one of the best times in mining.
Profitability seemed to be about of several billion dollars only from miners, not counting the sellers of video cards, ASICs.

Switching to POS in the long term does not seem like such a good idea to me, because in the end, miners will be able to find an alternative to Ethereum and a lot of money will go into a new alternative to ETH.

[Tony116]

Ethereum isn't have any use cases, the big part of Ethereum is many projects are using their chain because it's the biggest tokenization chain. It's centralized, nothing different with fiat, as sooner or later most projects are migrated to other network which cheaper than Ethereum, Ethereum will not able become top 2 position. Mixing service doesn't make Ethereum network end because not all users are using mixing service.

There have been a lot of new projects launched in recent years and most of them claim to be ETH killers, but so far none have done so. EOS may be the biggest hope to replace ETH, but now I hardly see anyone talking about it anymore. I don't know if it's still alive or not?
The most recent is Solana, with cheap transaction fees and a hundred times faster speed than ETH, which is also predicted to be the killer of ETH. But you see, Sol has outages 9 times this year and will likely continue to happen in the future, I don't believe anyone can replace ETH in the altcoin world.

[Silberman]

Ethereum isn't have any use cases, the big part of Ethereum is many projects are using their chain because it's the biggest tokenization chain. It's centralized, nothing different with fiat, as sooner or later most projects are migrated to other network which cheaper than Ethereum, Ethereum will not able become top 2 position. Mixing service doesn't make Ethereum network end because not all users are using mixing service.

There have been a lot of new projects launched in recent years and most of them claim to be ETH killers, but so far none have done so. EOS may be the biggest hope to replace ETH, but now I hardly see anyone talking about it anymore. I don't know if it's still alive or not?
The most recent is Solana, with cheap transaction fees and a hundred times faster speed than ETH, which is also predicted to be the killer of ETH. But you see, Sol has outages 9 times this year and will likely continue to happen in the future, I don't believe anyone can replace ETH in the altcoin world.

The moment a coin markets itself as the coin that can destroy another popular coin then you know there is a problem as there is no way to know that with any kind of certainty, as you mention the latest candidate to achieve this was Solana and while it seems like a good project that lack of reliability is never going to allow to surpass ethereum, and even if the developers behind it found a way to solve this would you really trust that something like this will never happen again?

[Argoo]

Censorship might be a problem to many which I believe ETH already works on this.
There’s still a reason why ETH remains on top today and I can’t see any project to replace it. There’s a lot of project under POS network, so far many of them are on a good position as well. Decentralization might already be compromise especially when there’s a strong regulations, and we have to accept this fact slowly.

Censorship will not be the end of cryptocurrency and ethereum in particular. Certain external regulation of the circulation of cryptocurrencies by states is inevitable anyway. It will add more order and certainty to the cryptocurrency, reduce the number of hackers and scammers. If someone thinks that states will not pay attention to the alternative, free, uncontrolled movement of capital in cryptocurrency, then he is deeply mistaken. This has never happened and never will. Personal identification will eventually be carried out when the cryptocurrency and the banking system come into contact, that is, when the cryptocurrency is converted to fiat, and there is nothing we can do about it. Decentralization and centralization in cryptocurrency will both oppose and complement each other. You just need to work out the golden mean here.

[zasad@]

Bitcoin has much more liquidity and trading volume. Taproot allows you to hide transactions. As long as decentralized ecosystems exist, there will be no problems with the shadow sector. Ethereum has a very low transaction speed, and soon there will be projects where the TPS will reach several hundred thousand, for example https://sui.io

[dimonstration]

Even Ethereum become the slowest blockchain with a bunch of hacking/scam inside its ecosystem didn't bring down this project on ground so what's more for a censorship from its dapps. Investors will not gonna stop believing on this project due to its established reputation and name in the crypto space. This censorship might be caused for a minor pull back but it's not enough to end one of the biggest blockchain on crypto. It will take more FUD than that to kill Ethereum.