Ethereum Blockchain Development, A plus or minus To The Cryptocurrency Space

[Wiwo]

This question has got me thinking of the possibility we could have been enjoying if there is nothing like the Ethereum blockchain that gave possibilities to the development of all the other chains in the crypto space today, I know one of the advantages of the ethereum blockchain is the fact that it gives room for scalability and possibilities of getting services that the Bitcoin blockchain may lack. But another setback is the adoption level since the ethereum blockchain gave birth to several cryptocurrencies it makes it hard for mainstream recognition of a single crypto coin which was the original intention of bitcoin.

[Yogee]

This question has got me thinking of the possibility we could have been enjoying if there is nothing like the Ethereum blockchain that gave possibilities to the development of all the other chains in the crypto space today,

You are mistaken if you are thinking Ethereum is the first ever coin that was created as an alternative to Bitcoin. There was Namecoin, Litecoin, and Dogecoin among other chains that was developed prior to 2015.

I know one of the advantages of the ethereum blockchain is the fact that it gives room for scalability and possibilities of getting services that the Bitcoin blockchain may lack.

The advantage on scalability maybe true before but this is not the case right now. Ethereum is more congested and it costs more to send ETH than BTC today using p2p method.

But another setback is the adoption level since the ethereum blockchain gave birth to several cryptocurrencies it makes it hard for mainstream recognition of a single crypto coin

You cannot fault the birth of Ethereum and the increase in competition for the lack of mainstream adoption of any coin. Do not expect every coin to be recognized in the mainstream as some of them are not really designed for it. Take Monero for an example.

which was the original intention of bitcoin.

Can you point to us where in the bitcoin whitepaper does it say about mainstream recognition? I only know it was meant as an alternative payment system where you and I can send money peer-to-peer.

[jrrsparkles]

If I am not wrong vitalik didn't created ethereum with the same intention as Satoshi, both are here for different reasons and ethereum mainly created for projects to be run on it without creating their own blockchain everytime. Still many projects run over ethereum and soon it will resolve all the scalability issues and will come back stronger.

[Kunnu]

If Ethereum developers would have launched ETH in terms of technology similar like Bitcoin then it couldn't achieve this kind of success anyway I don't take these two as a competitor of each other nevertheless I think Ethereum blockchain has played an important role to make crypto industry more progressive which is absolutely a plus point

[WalkerIVIV]

So, what's point to talk about what's not happening with crypto? Ethereum is exist and this is the fact. Ethereum has become the first smartcontract platform and you know what i meant if ethereum was not exist and you will not see so many smartcontract platforms these days and the community will not so big like this time as there are only few coins in the market. Even when people are mentioning about the old coins and yeah they are failed coins for sure.

[JooBra]

If Ethereum developers would have launched ETH in terms of technology similar like Bitcoin then it couldn't achieve this kind of success anyway I don't take these two as a competitor of each other nevertheless I think Ethereum blockchain has played an important role to make crypto industry more progressive which is absolutely a plus point

Yes it played a big role in crypto but it's time for eth to develop further now. We are expecting eth 2.0 which will bring us there I hope.

[TravelMug]

This question has got me thinking of the possibility we could have been enjoying if there is nothing like the Ethereum blockchain that gave possibilities to the development of all the other chains in the crypto space today, I know one of the advantages of the ethereum blockchain is the fact that it gives room for scalability and possibilities of getting services that the Bitcoin blockchain may lack. But another setback is the adoption level since the ethereum blockchain gave birth to several cryptocurrencies it makes it hard for mainstream recognition of a single crypto coin which was the original intention of bitcoin.

And that's what crypto is all about though, I mean Ethereum gave birth to different blockchain to compete against them. So nothing is wrong with that and on the contrary, it gives developer options at which their project will run, maybe it was it Ethereum or BNB or any other mainnet.

I don't think that it was the original intention of bitcoin to have a single crypto currency. It's main purposed is to be another for micro payment scheme but since then crypto has evolved so much already.

[Blank-Head]

Although Ethereum is currently the most popular coin in the marketplace. But if Ethereum had introduced technology like Bitcoin, Ethereum would not be in this position now. The developers never imagined it would be something like this. If Ethereum developers had introduced ETH in technologies like Bitcoin, it would not have achieved such success. I never think of any action competing between the two of them. But I think the etherium blockchain has played an important role.

[bitkanu]

That's a bit non sense to talk about whether ethereum was a plus or minus in the cryptocurrency. If there was no ethereum and there will be no a very big ecosystem like this time and so many projects that exist in the market will not be there. In my opinion that if you can see ethereum's effect in the market and that will give you the best answer whether ethereum was giving very big impact to the market or not. So, bunch of smartcontract platforms and so many new developers are coming in. that's enough to prove that if ethereum has a very good impact .
This is clear.

[GreatArkansas]

(.....)
But another setback is the adoption level since the ethereum blockchain gave birth to several cryptocurrencies it makes it hard for mainstream recognition of a single crypto coin which was the original intention of bitcoin.

Just always think that Ethereum and Bitcoin are far different, they have a different goal or use. That's why I really hate people who are fans to compare Ethereum to Bitcoin or vice versa.
Ethereum is really a gem since the beginning, it really solves most of the current traditional finance problems and you are right, because of Ethereum a lot of projects is here now to help our financial system.

[vv181]

Ethereum may be the one who started it, but actually, a smart contract isn't a new idea. Even though I agree Ethereum deserves some respect to initiate making all that things possible, they are facing a new scalability problem right now, so there is still room for improvements.

And regarding adoption, people will adopt anything that beneficial to them. Ethereum and Bitcoin have their own purpose, I don't think there will be single crypto that ruled them all out, after all, due to the nature of how cryptocurrencies works, there will always be someone who claims their coin is better than others.

[Xal0lex]

If there was no Ethereum blockchain, it would be worth inventing The creators of Ethereum simply figured out before anyone else that there was room in the crypto industry to implement a platform for smart contracts. If it wasn't for Ethereum, someone else would have certainly done it and we would be talking about another coin in the way we talk about Ethereum in your post right now.

I think in the long run bitcoin won't be a hindrance, it has different tasks than ETH, and I believe it will remain a trendsetter. It's a bit illogical to hope for one coin's acceptance in the crypto industry, because the industry itself is very multifaceted and every task needs certain standards of tokens and protocols.

[Yogee]

If there was no Ethereum blockchain, it would be worth inventing The creators of Ethereum simply figured out before anyone else that there was room in the crypto industry to implement a platform for smart contracts. If it wasn't for Ethereum, someone else would have certainly done it and we would be talking about another coin in the way we talk about Ethereum in your post right now.

Exactly! I think some people make wrong assumptions that smart contracts started with Vitalik and the rest of Ethereum founders. I can't blame them since Nick Szabo isn't as popular or as influential to the new breed of altcoiners.

[bittick]

The existence of ethereum blockchain is also increasing the demand for the smartcontract developments. This is making so many more and more new team to come to bring their innovative ideas to give contribution to the ethereum development. This is giving a lot of contribution to the blockchain development. Ethereum smartcontract used to develop the various contract. This was very good for the whole ecosystem in the past.
That makes the crypto ecosystem was growing so hard.

[Cadaver20]

The role of Ethereum blockchain in growing the crypto industry is undeniable. But today, many similar networks of Ethereum network have been created, now we do not want to acknowledge the role of Ethereum network. For the Ethereum network we have seen many new crypto projects in the crypto industry which are still ongoing. As a result more people get involved with crypto and crypto become more popular.

[Wiwo]

If there was no Ethereum blockchain, it would be worth inventing The creators of Ethereum simply figured out before anyone else that there was room in the crypto industry to implement a platform for smart contracts. If it wasn't for Ethereum, someone else would have certainly done it and we would be talking about another coin in the way we talk about Ethereum in your post right now.

Exactly! I think some people make wrong assumptions that smart contracts started with Vitalik and the rest of Ethereum founders. I can't blame them since Nick Szabo isn't as popular or as influential to the new breed of altcoiners.

Well, am well aware of the necessity of an alternative blockchain to Bitcoin since the Bitcoin blockchain I a highly privacy-oriented blockchain that can not be easily developed which is why there was a need for the ethereum blockchain to aid the stability of the cryptocurrency industry. But this development has brought with it quite a good number of vulnerabilities in the industry which has triggered discussion in some crypto communities.

[Lagduf]

the main point of the existence of ethereum is just for the sole purpose of enhancing the blockchain capability further, it was all focused on making blockchain more than it was in the past, basically giving the smart contract capabilities that now has become a real game changer.
remember that the presence of defi and NFT wouldn’t be realized if not for the revolutionary smart contract based blockchain that allows machine one step further intervening the human’s affair.


there might be differing opinion in regard of smart contract blockchain as the ones that revolutionizes how the entire market works but I think there is valid reason why so many smart contracts blockchain are being created every month with all the quirks and perks that is because
this blockchain is the thing that most of cryptocurrency enthusiast sought after because it could gives them things like defi and NFT that is basically inexistent in the pasts.

[Wiwo]

the main point of the existence of ethereum is just for the sole purpose of enhancing the blockchain capability further, it was all focused on making blockchain more than it was in the past, basically giving the smart contract capabilities that now has become a real game changer.
remember that the presence of defi and NFT wouldn’t be realized if not for the revolutionary smart contract based blockchain that allows machine one step further intervening the human’s affair.


there might be differing opinion in regard of smart contract blockchain as the ones that revolutionizes how the entire market works but I think there is valid reason why so many smart contracts blockchain are being created every month with all the quirks and perks that is because
this blockchain is the thing that most of cryptocurrency enthusiast sought after because it could gives them things like defi and NFT that is inexistent in the past.

Indeed some ethereum blockchain project has been a game-changer but we must not forget in totality the vulnerability this development present with the high and alarming rate of Defi scams with many defi projects getting hacked into this has given the entire cryptocurrency industry a negative image in the general public opinion. The scalability aided by the ethereum blockchain is a huge plus but at the same time posts a high risk due to its centralization features which give the developer the liberty to add to the existing network.

[drumamat]

The existence of ethereum blockchain is also increasing the demand for the smartcontract developments. This is making so many more and more new team to come to bring their innovative ideas to give contribution to the ethereum development. This is giving a lot of contribution to the blockchain development. Ethereum smartcontract used to develop the various contract. This was very good for the whole ecosystem in the past.
That makes the crypto ecosystem was growing so hard.

Still, I think that Ethereum has become what it is not only because of the possibility of using smart contracts. First of all, a positive factor was the fact that many projects are being built on Ethereum and, accordingly, a very large number of developers are involved in the development

[takngantuk]

This question has got me thinking of the possibility we could have been enjoying if there is nothing like the Ethereum blockchain that gave possibilities to the development of all the other chains in the crypto space today, I know one of the advantages of the ethereum blockchain is the fact that it gives room for scalability and possibilities of getting services that the Bitcoin blockchain may lack. But another setback is the adoption level since the ethereum blockchain gave birth to several cryptocurrencies it makes it hard for mainstream recognition of a single crypto coin which was the original intention of bitcoin.

but in fact because of the ethereum blockchain the adoption rate is increasing rapidly. etherum offers scalability and the token creation process is very easy. This is what makes crypto grow very rapidly. many crypto projects were born and developed because of ethereum. indeed we have to admit, the layer1 blockchain network has a negative impact, especially in the case of scammers. a lot of shit projects are released because it's too easy to create tokens in the crypto space. but we have to admit also adoption is increasing because of the many projects like ethereum.