Yesterday, Ethereum ushered in its four-year birthday!
(Source: Coindesk )
On July 30, 2015, the world's first universal blockchain platform, Ethereum, was born. It is the first platform to feature Turing-complete virtual machines and native programming languages, and developers can deploy any level of algorithmic code on the Ethereum platform.
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Mariano Conti, director of the Smart Contract at the MakerDAO Foundation, told CoinDesk:
Before Ethereum, developers had to design and write extremely complex software. Ethereum introduces a common programmable layer that abstracts the entire programming process, enabling developers to build decentralized applications by writing the core logic of the application.
According to the latest data from investment company Electric Capital, there are currently 800 active developers on the Ethereum blockchain platform.
Avichal Garg, founder of Electric Capital, said:
This means that the Ethereum ecosystem is larger than other blockchain ecosystems.
At present, Ethereum is no longer the only universal blockchain platform, and even from some indicators it is not the most active blockchain. The latest quarterly report from Dapp.com shows that although Ethereum is still the developer's first choice, the number of active Dapps for other decentralized applications (Dapp) platforms such as Tron and EOS has surpassed Ethereum.
The emergence of new platforms has made many players curious about what Ethereum will look like in four years. In the face of increasing competition, as a general blockchain platform, can Ethereum still maintain its leading position?
Eric Conner, product researcher at Gnosis, the founder of the information website ETHHub, said:
I believe that Ethereum will overcome the difficult phase of its upgrade plan (transition to equity proof algorithm and expansion). By then, the Ethereum network will be able to carry more users, and its business use cases will increase dramatically.
Proof of equity (a more environmentally friendly version of Ethereum's current consensus algorithm) and scalability are bundled into an ambitious upgrade called Ethereum 2.0, which many hope will be completed in the next four years of Ethereum. This upgrade.
Anthony Sassano, head of marketing and growth at Ethereum's startup company Set Protocol, said:
I believe that Ethereum will realize the original vision of 'World Computer' in the next four years, because the upgrade of Ethereum 2.0 will be gradually completed. We will have mature solutions and we will have appropriate privacy solutions.
Is the future of the ether a platform or a currency?
At the same time, experts say that Ethereum needs to address not only the core issue of limiting the technical bottleneck of transaction throughput and efficiency in the next few years. Ethereum must also overcome the challenges associated with its currency identity.
Yaz Khoury, the developer director of Ethereum Classic Cooperative (helping the ETC build agreement), said:
Ethereum still has a lot of controversy about whether it has monetary attributes. It is not so much a cryptocurrency as it is a Dapp market and network.
Ryan Sean Adams, founder of Mythos Capital's encryption investment company, believes that Ethereum will become a digital currency within four years:
Obviously, ETH is not a practical certificate in four years, but a currency, a programmable value storage system. Lending, trading, and savings will all become public agreements in the Ethereum economy.
MakerDAO's Conti believes that from a recent development perspective, one should focus on the continued growth of decentralized financial applications rather than Ethereum 2.0 and its scalability challenges.
Conti said by email:
I believe that even if the upgrade of Ethereum 2.0 is postponed, the current capabilities of Ethereum will allow DeFi to develop very well. I expect more companies to use DAI to pay their employees' payroll. I also expect that the first large-scale DeFi hacking will happen soon, which will be worthy of attention.
How do investors in Ethereum look at the four-year birthday?
The major investors in Ethereum said they are not worried about how the platform will transform in the next few years. Because the progress made in Ethereum over the past four years is sufficient to demonstrate its ability to consolidate its leading position in blockchain technology.
Linda Xie, founder of Scalar Capital, said:
Ethereum has made significant progress in making it easier for developers to build applications. The language, tools and infrastructure in the Ethereum platform have been improved. While this work is still in progress, building applications is now much easier than it was in the early days.
Adams of Mythos Capital estimates that so far, Ethereum has generated nearly $15 billion in certificates. These assets will continue to snowball development and create greater value for the Ethereum platform in the coming years.
Adams said in the email:
We also saw Ethereum's first generation of decentralized financial agreements, with $500 million locked in loans and deal agreements over the past 18 months. These agreements will form the banking layer of this new open financial system.
Pantera Capital is the oldest bitcoin investment company in the United States, and it has invested in more than 20 different Ethereum-based startups to date. Paul Veradittakit, a partner at Pantera Capital, said that 2019 was an inspiring year for Ethereum.
The Ethereum community has maintained a constant focus on Ethereum in the bull market, and has maintained great confidence in Ethereum in the bear market. This continuous construction of Ethereum has indeed paid off, and the ecosystem of Ethereum has become healthier and richer. There are a lot of great Ethereum projects that will run this year, so let's wait and see.