Ethereum Whitepaper turns 5
With Ethereum now at record lows and dangerously close to dropping below the psychologically sensitive $100 level, very few have noted that the second largest cryptocurrency has actually turned 5 years old last month. Here at Blockchain Wire, we caught up with a couple of luminaries in the space who spoke about what this milestone means for an industry that is seen as at a crossroads.
Jimmy Zhong, CEO of enterprise-grade blockchain infrastructure IOST:
“Every project owes a debt of gratitude to Ethereum. Vitalik’s brainchild has captured the imagination of developers across the world, and has shown the possibility of a solution to the biggest societal problems caused by the tech industry. But being the first mover comes at a high price. While Ethereum has rightfully been the industry leader for the past several years, there are issues that call its long-term dominance into question. Its notorious scalability problems have been thrown into stark relief by games like CryptoKitties and Fomo3D, which practically brought the network to a grinding halt. In the next five years, we’ll see other projects that tackle the scalability trilemma in innovative new ways. These projects will be more nimble and benefit from the late mover advantage. Whatever does happen, these projects will be building on the shoulders of giants, specifically the brilliant minds which brought about the first viable DApp infrastructure.”
Coleman Maher, Head of Partnerships at Origin, an open-source blockchain platform for creating p2p marketplaces like decentralized versions of Airbnb, Uber, and Craigslist said:
“People forget how ambitious the concept of Ethereum was when the white paper was released five years ago. It’s still far from being ‘the World Computer,’ but Ethereum has attracted tens of thousands of developers and spawned an entirely new industry. For all the flak it gets for being slow, for scalability taking too long, and for the DAO hack and other smart contract exploits, Ethereum actually exists and works. That’s an incredible accomplishment.”