[NEWS] The Ethereum Foundation Has Lost Its Way

[bitgolden]

As long as people want to promote their coin as "eth killer", we are going to have ETH alive and not killed. You want to know why? Because those other stuff are so bad that they want to use ETH's name to say they are better. If you have to say you are better, than you are not better, I am sorry but that is just true. So in the end, what you are seeing here is that bunch of coins are just using ETH as marketing ploy to get attention, when you say your coin is ETH killer, you are doing free marketing over ETH without paying anything to ETH, and that's all they want, the attention.

In reality, if something was actually good, we would see it standalone, not use ETH's name, and actually tell people to take a look at itself, because if it's good, then we would all love it. Right now there isn't any eth killers out there, maybe in the future someone will make one.

[markm]

Good thinking.

To me it seems part of what makes something an ETH killer is probably the actual fact of not being one!

Seriously, I can use an obscure thing that isn't crowded with billions competing for blockchain space simply and easily.

If I had tried to use for example Solana I lost count of how many times its sheer popularity would have shut me down from its blockchain choking.

Maybe the best throughput solution is simply not to all try to crowd into the same chain to begin with?

The closest I have come to Denial Of Service with Stellar for example seems not to be the chain itself choking up but just html 504 errors on the API site my client was using.


-MarkM-

[bbc.reporter]

I reckon the failure of Ethereum will also be the failure of the cryptospace.

That is silly. Just plain silly.

Well okay maybe absurd...


-MarkM-

However, is this very much silly? Ethereum is the blockchain that has the largest total volume locked, it is the 2nd most valuable in market capitalization and financial institutions have created an ETF for this. If this falls in users, volume and market capitalization, this will certainly be one of the cryptospace's biggest failures.

Also, I am not implying that the cryptospace will die. There is a difference between a failure and death and Ethereum's failure will certainly create a question on our industry.

In any case, is this update from Whale Insider serious?



NEW: Vitalik Buterin aims to boost Ethereum to 10,000 transactions per second by 2026, projecting an annual burn of 713,000

Source https://x.com/whaleinsider/status/1882793526142083288?s=12&t=fx2RmsbaS0qNJTJTdpNu2w

[markm]

I dunno, maybe ETH "failing" would simply show that bitcoin core's approach of slow but sure progress is better than rushing ahead with a supposedly better newfangled way of slicing bread, that maybe slicing it slowly but surely is better than trying to slice every loaf at once right now and hype everyone into preferring sliced to slice it yourself.

I notice no one responded to my curiosity as to whether ETH is actually more secure than things that use bitcoin as their secureness foundation...


-MarkM-

[pooya87]

The problem with ethereum isn't just that it has flaws but that it is riddled with flaws many of which are fundamental and unfixable. For example the smart contract protocol it has is so flawed and easily exploitable that anybody can create something similar to the DAO mess and this time since the Foundation won't have any money in it, they won't roll back those blocks for you (as it has happened a couple of times after the DAO mess itself).

[woez]

I think there are 2 points that need to be done by them, namely Strengthening the DAO and Transparency from the Ethereum Foundation so that parties or communities who still believe in Ethereum's performance will feel more comfortable.

[Frankolala]

Etherum lost it all after they changed from PoW to PoS, to make it a shitcoin. Porous centralized nature, and using the blockchain is also expensive. I feel in the long run more people will run away from Etherum because of poor growth in value and that will make the project lose more value. However, the CEO has already made a huge profit from his shitcoin and don't care about who invest in it or not.

[bbc.reporter]

I dunno, maybe ETH "failing" would simply show that bitcoin core's approach of slow but sure progress is better than rushing ahead with a supposedly better newfangled way of slicing bread, that maybe slicing it slowly but surely is better than trying to slice every loaf at once right now and hype everyone into preferring sliced to slice it yourself.

I notice no one responded to my curiosity as to whether ETH is actually more secure than things that use bitcoin as their secureness foundation...


-MarkM-

I am not arguing what is the better development style and roadmap. I am only expressing an opinion that if Ethereum fails, I reckon this will be witnessed by history as a failure in the cryptospace because Ethereum was supposed to be the smart contracts platform that will be used by the whole world. If this fails, what type of storylines would the mainstream news media begin creating? I am quite certain that this will be about failure and the will create a doubt by questioning these platforms' existence.

Also, I reckon that bitcoiners should not make this appear as a victory for bitcoin. It might prove that all of the projects in the cryptospace should follow some of bitcoin's development style, however, the slowness I cannot agree. Some of these technologies should push quickly.