Will Ethereum keep its leadership in the crypto smart contract industry?

[Blawpaw]

The Ethereum blockchain is currently the most used blockchain when it comes to Smart contract, NFT and Metaverse development. It achieved its leadership while it was still a decentralized network.


Unfortunately, right after the merge, Ethereum lost its decentralized feature and is now one of the most centralized cryptocurrency projects in the industry.

Given that we're going through a debate opposing Centralized vs Decentralized, do you think that Ethereum will still keep ahead of the competition? Aren't there a lot of chances of Ethereum being overcome by an alternative decentralized network?

What is your take on this matter?

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[FatFork]

It's hard to say exactly how long Ethereum will maintain its lead as a smart contract platform. But two things are certain. First, people are constantly looking for better, faster, and more scalable blockchain technologies. Second, Ethereum has plenty of competition from other formidable projects. As these other platforms improve, Ethereum will have to innovate and provide new features in order to remain in its position of leadership. It's an ongoing process that all successful platforms must undergo. That said, Ethereum is still the frontrunner in terms of public adoption, and that's not something that can be easily overcome.

[fzkto]

The Ethereum blockchain is currently the most used blockchain when it comes to Smart contract, NFT and Metaverse development. It achieved its leadership while it was still a decentralized network.


Unfortunately, right after the merge, Ethereum lost its decentralized feature and is now one of the most centralized cryptocurrency projects in the industry.

Given that we're going through a debate opposing Centralized vs Decentralized, do you think that Ethereum will still keep ahead of the competition? Aren't there a lot of chances of Ethereum being overcome by an alternative decentralized network?

What is your take on this matter?

I don't think anyone is thinking about centralisation or decentralisation except us. People are dictated the rules of censorship and they have to abide by them. Yes, Ethereum is the most popular blockchain and I think it will be for a long time. There are big funds and huge money behind ETH, so users don't decide anything here.

[BIT-BENDER]

I think Ethereum has had an interrupted reign in smart contract and it has large amounts of users of its smart contract. But even before the merger happened the Ethereum network started to see less patronage than it use to get before. Back then it was so much that the network gets congested. I think this downward spiral has to do with the transactions fee on Ethereum.

Ethereum high transactions fee was slowly reducing the amount of people using because there are other networks that has good transactions speed and very affordable fee than the Ethereum network. Now with the decentralization going away on the merger I don’t know how much longer Ethereum can hang up on its position.

[goaldigger]

We might see some changes but let’s see how ETH will deal with this one.
After the merge many still choose ETH as their network and probably they still see good things about ETH. The future might be more challenging for them as they take another path but I’m confident that ETH will not do the merge of its not necessary and if that update can affect them, they do the merging for the benefit of the whole project.

[o48o]

-cut-
What is your take on this matter?

By centralization you mean nodes are hosted on same cheap cloud servers. That isn't same as 51% attack. If it would be easier to host light weight node in your own home, there wouldn't be an issue and this is something i am sure they are tackling next. Compared to bitcoin, that was once mostly mined from one server farm, i don't see the issue really, some people can't afford mining btc just like some people can't afford hosting their own nodes. This will most likely change in the future with lighter clients.

if cloud servers were compromised, people would either move to other servers or host it by themselves.

Sure, things can be more decentralized but we tend to forget that the whole internet mostly runs on centralized servers and their backups.

[Jackl87]

The Ethereum blockchain is currently the most used blockchain when it comes to Smart contract, NFT and Metaverse development. It achieved its leadership while it was still a decentralized network.
Unfortunately, right after the merge, Ethereum lost its decentralized feature and is now one of the most centralized cryptocurrency projects in the industry.
Given that we're going through a debate opposing Centralized vs Decentralized, do you think that Ethereum will still keep ahead of the competition? Aren't there a lot of chances of Ethereum being overcome by an alternative decentralized network?
What is your take on this matter?

I hear this argument about Ethereum being not decentralized anymore quite a lot in the last time and of course it is true that now the big exchanges like Binance, Coinbase, Huobi and Kucoin for example all have a lot of power within the Ethereum network because they all own so many coins. That being said i don't really think that i was that much different when Ethereum was still proof of work. I mean there were or still are huge mining companies in china and if a single company is controlling a big share of the mining power of a crypto currency then it is just as centralized.
I think that Ethereum will always be the number one smart contract platform, simply because they invented that functionality.

[Yatsan]

Seems like. Do you guys have seen how many platforms this Ethereum blockchain are tangled with? Like it was almost all projects so I guess it would remain leading because of that. Although there are blockchains which causes lower transaction fees such as Litecoin and BNB, ETH chain would still be more used because it is somehow more secured.
Ethereum is still decentralized. It is just because of third party wallets and apps which makes it seem not to. Except from high transaction fees, my another problem is delay on some of my transactions made which on my end, viewed it as traffic given how many projects are using this chain. I got used of it than to use other chains and eventually lose my funds. Better late than never, I guess.

[dothebeats]

Not quite sure about this one, although it's hard to tell since there aren't any close second at all currently. ETH still is the preferred coin when it comes to smart contracts and other app-building alts out there that wanted to do more than just being a coin. It's still a robust and very capable platform with a lot of merits that should be acknowledged first before anyone considers any other platform that offers the same as what it ETH can right now.

[ajochems]

Ethereum had good potential to keep their standard all the time. The new traders, old traders will know the fact of Ethereum was the second position holding crypto currency. The new update of Ethereum 2.0 was based on the Ethereum. Ethereum is the only coin had huge response with the new launch next to the Bitcoin. Many coins looking for the update. But some May loss his interest among the people after the new launch. So Ethereum was the unique coin in the altcoin list. Many whales had their capital in Ethereum. They are dumping the market, when ever they want of cash.

[hd49728]

Bitcoin keeps its leadership in cryptocurrency and Ethereum keeps its leadership in altcoins and smart contract industries. I have belief about Bitcoin and Ethereum as two biggest leaders in cryptocurrency.

It won't be easy to take over a second position of Ethereum and almost impossible to take over a King position of Bitcoin. A best candidate to take over Ethereum is Binance Smart Chain but it won't happen soon. If it happens, I believe it will happen in either 2028 or 2032, two or three bull runs later.

Dominations of Bitcoin and Ethereum are too high according to Coinmarketcap: BTC: 38.2%; ETH: 17.6%. It tells us truth about leaderships of BTC and ETH in crypto

[GreatArkansas]

(....)
Unfortunately, right after the merge, Ethereum lost its decentralized feature and is now one of the most centralized cryptocurrency projects in the industry.

What is your take on this matter?

This was their roadmap and plan for the future, it seems that solving scalability is having some negative effects on Ethereum, and started to lose its decentralized feature when Ethereum started to become proof-of-stake. We all know that proof-of-work will guarantee somehow decentralized as that is how Bitcoin works.
I know Ethereum got big team and I believe they will continue to look forward these kinds of problems and somehow they can solve it along the way.

[Blawpaw]

I think Ethereum has had an interrupted reign in smart contract and it has large amounts of users of its smart contract. But even before the merger happened the Ethereum network started to see less patronage than it use to get before. Back then it was so much that the network gets congested. I think this downward spiral has to do with the transactions fee on Ethereum.

Ethereum high transactions fee was slowly reducing the amount of people using because there are other networks that has good transactions speed and very affordable fee than the Ethereum network. Now with the decentralization going away on the merger I don’t know how much longer Ethereum can hang up on its position.

BUt that's exactly where it shows it is not neither will be ever a good network. Ethereum always had the problem of incredibly high fees and to solve that it had to rely on other cheaper and faster networks to have it done in the cheapest way. The eth network has to rely on sidechains and Layer two solutions to be able to provide a cheap and fast network. So, basically, ethereum would not work if it wasn't for other solutions. If it can't solve what we need to have solved it is not a good network and will replaced by a new and better network very soon.

[Questat]

No other coin or platform could take away from it from Ethereum and still see that it will continue to lead and dominate in smart contract industries.
In fact, for many years ETH exist and several downfalls it has and with market competition, we are still able to see ETH on top among altcoins and never I see it will change even in the future.

It is a trusted platform and 2nd to Bitcoin, people are considering these projects unique from others. ETH devs will continue to provide good services to the community and protect their reputation.

[cryptoaddictchie]

Given that we're going through a debate opposing Centralized vs Decentralized, do you think that Ethereum will still keep ahead of the competition? Aren't there a lot of chances of Ethereum being overcome by an alternative decentralized network?

I think it would take a lot before any other L1 surpass or par up with ethereum. I think that some closer are Bnb, solana and maybe matic or avalanche. But these are still young up project when it comes to adoption.

More of the people are still inclined with ethereum network when it comes to dapp usage and that better.

[Jating]

The Ethereum blockchain is currently the most used blockchain when it comes to Smart contract, NFT and Metaverse development. It achieved its leadership while it was still a decentralized network.


Unfortunately, right after the merge, Ethereum lost its decentralized feature and is now one of the most centralized cryptocurrency projects in the industry.

Given that we're going through a debate opposing Centralized vs Decentralized, do you think that Ethereum will still keep ahead of the competition? Aren't there a lot of chances of Ethereum being overcome by an alternative decentralized network?

What is your take on this matter?

We haven't heard anyone yet to challenge Ethereum when it did the merging. However, in the past there have been a lot of potential takeover from other projects, but it didn't materialized and Ethereum remains on the top of the food chain.

And with that premise, if the project before who are so strong and put up a good challenge didn't win, so what make it any difference as of today despite their merger? So I believed that Ethereum will continue it's dominance as far as Smart contract and NFT and Metaverse development.

[cryptomaniac_xxx]

Given that we're going through a debate opposing Centralized vs Decentralized, do you think that Ethereum will still keep ahead of the competition? Aren't there a lot of chances of Ethereum being overcome by an alternative decentralized network?

I think it would take a lot before any other L1 surpass or par up with ethereum. I think that some closer are Bnb, solana and maybe matic or avalanche. But these are still young up project when it comes to adoption.

More of the people are still inclined with ethereum network when it comes to dapp usage and that better.

Right, those projects seems to be on the top of the competition, specially BNB before because there are a lot of projects who move it BNB or new projects abandoning ETH totally and using BNB. But then again, up to this time, we haven't seen a project that really push it's price with the BNB chain.

Most of the top projects that we all know of is under the ETH blockchain and will continue to do so despite the claims that ETH now is more centralized as there are validators and node operators that have total control and not the devs anymore. But there are no shift in power so far, not anything that I heard of.

[shinratensei_]

The Ethereum blockchain is currently the most used blockchain when it comes to Smart contract, NFT and Metaverse development. It achieved its leadership while it was still a decentralized network.

leadership? are you serious about this? some new blockchains have been surpassing ethereum in term of total transactions for the daily usage. It's pretty much the same like anyother POS smartcontract blockchain in the market. There's no different between ethereum and any other smartcontract blockchain in the market.

Unfortunately, right after the merge, Ethereum lost its decentralized feature and is now one of the most centralized cryptocurrency projects in the industry.

I think that how centralized POS itself actually depend on the numerous factors like how many validators have been running the network. You can't judge it easily without even providing any proof.

Given that we're going through a debate opposing Centralized vs Decentralized, do you think that Ethereum will still keep ahead of the competition? Aren't there a lot of chances of Ethereum being overcome by an alternative decentralized network?

What is your take on this matter?

Centralization or decentralization didn't matter a lot as long as the network can be trusted for long term. There's no even competition between any blockchain. The supporters itself over reacted with what they have been supported.

[jossiel]

I think those that don't like how it looks like to have that type of algorithm through PoS, they'll soon to realize that PoW is still the best algo if a project wants to be secured with their network.

No offense to many other projects and chains that includes bnb and ethereum. Soon, those that want all of these shits, happening in the market will turn them done with it and want to make a change for themselves and will start to think of investing into projects that promotes PoW and first of it is BTC.

[el kaka22]

It will hold it for sure, there is no doubt about that in my mind. I understand that there are a lot of competitions and because of that people act as if there is a possibility of other coins end up being above ethereum even if not in marketcap rankings, but at least usage of smart contracts. I will agree that there will be more and more places that will take away small chunks from ethereum and that’s understandable but that doesn't mean that there will be a single one that will go over it.

Just because there are small ones that grows, doesn't mean that it’s a single project, it maybe like a dozen projects combined together becoming bigger than ETH, that’s the path right now.