Daily General Discussion - June 25, 2023
Daily General Discussion - June 25, 2023
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- almost every company I know that was looking to implement Ethereum for use cases has either dropped it or switched to forks, like Quorom. Eth is STILL unusable for all the use cases after 11 fucking years. For the love of God, progress is too slow, and competitors are going to eat us alive. We could have tokenized real world assets but instead we became a pepe casino, now all the big boys are making their own Blockchain to finalize tokenized assets.
How are competitors going to achieve what Ethereum is achieving, with less devs, less decentralization, less security, less dapps, less tvl, less volume/liquidity, less user fees, less stakers, less nodes, etc? Businesses might be testing on these faster/cheaper chains, but I don't think they're stupid. The value prop for blockchain/crypto is with Ethereum.
Eth is STILL unusable for all the use cases after 11 fucking years
Can you be specific? In what way is Ethereum unusable? I would say that, yes, Ethereum is still building out infrastructure. It hasn't even been a year since the Merge. It's barely been a year since EIP1559. What are these other "competitors" achieving? All I see are ghost chains and vaporware.
progress is too slow
What's your benchmark? What's your metric for measuring fast or slow progress? Is there an emergent need to rush upgrades with literally billions at risk for any mistakes made?
We could have tokenized real world assets but instead we became a pepe casino, now all the big boys are making their own Blockchain to finalize tokenized assets.
We have. There are examples of this. 4k.com Fabrica, roofstock, ticketmaster
the old guard will make it first and use it since we are to focused on pump and dumps and pepe shit coins and "web 3" that costs users money to like a fucking post instead of charging advertisers on the back end
This is something addressed in the reddit thread Addressing Common Criticism
"Even if companies adopt Ethereum they will just run a private chain"
"Not just companies, but we're going to see private chains being run for consumers. We are already seeing some of this with Binance Smart Chain, but in the future, I'd speculate have big players like governments, banks, and corporations run private chains."
"Naturally, there'll also be business adoption for the public chain with B2B activities."
"Like I alluded to at the very beginning, only a very limited amount of gas will be consumed on the Ethereum L1 chain long term. But that doesn't matter - L1 will be 100% saturated at all times, and other solutions building with Ethereum only adds to its network and Lindy effects."