ethereum foundation eth

Ethereum Foundation Culture Fosters Financial Experimentation No Borked solutions per Udi Wertheimer

March 14, 2020 Off By Maheen Hernandez

Udi Wertheimer expressed a lot of positive things about Ethereum.  He stated that ERC20 is a great success.  He recollected how, after the failure of Omni/XCP/colored coins that they took a hard look at creating a standard that serves everyone today.  

He also stated about how several Dapps, which are built on Ethereum, are entirely centralized and about how they are good about rallying the enthusiasm factor by fixing single points of failure.  He stated that he was not sure if they will win and that he opined that someone’s trying.

He spoke about how there is a lot of research, which is funded by the Ethereum Foundation, with good research focused on solving real problems.

Sydney Ifergan, the Crypto Expert, tweeted:  “There is a lot of money that one can make with Ethereum ETH. They are in the experimentation phase, toiling their way to bring an ideal product.”

Wertheimer stated that ETH is a pretty liquid cryptocurrency, third after Bitcoin and Tether.  The Ethereum community is the most active developer community when compared to the rest in the cryptocurrency ecosystem. He opined, “There’s a lot to say about who should be considered “Ethereum developer.” Is a dev @ bitmex a “bitcoin developer” because BitMEX uses BTC? I don’t know. But they do have a larger dev community.”

Ethereum ETH Crashes Rewinds Congestions

There were several problems faced by the Ethereum Network with confusing forks, crashes, rewinds, and congestion.  Despite all of these, the ETH community continues to survive.  The ecosystem of apps and services facilitated with a good UX and infrastructure is indeed hard for anyone to complete with.

ETH has come a long way from Day #1.  It is not possible to ignore their journey.  The ecosystem of apps is rich, though somewhat centralized.

There has been a lot of criticism on how the Ethereum (ETH) ecosystem has been organizing themselves over the past two years.  However, considering the way they organized themselves from day#1, they have been good at the community building.  The community continued to be passionate even when the price chart was harsh.

When talking about the transition to PoS, he stated, The “transition” to Proof of Stake so far has been… not tremendous. But look at other coins. They slap the label “PoS” on anything, knowing full well it’s broken, and they don’t care. At least Ethereum isn’t going with obviously borked “solutions,” even at a great cost to its image.”

The Ethereum Foundation culture fosters financial experimentation. The marketing is not good; it is “downright reckless” per Wertheimer.  However, he stated that he is not able to see anyone else experimenting.

  • 31