It is no surprise that the recent market selloff was triggered by ICOs cashing out on ETH. This and perhaps the fact that Ethereum has not been able to produce any meaningful dAPPs that function without a glitch. Add to that the numerous hacks that happened on this blockchain and you get the picture: ETH is sick and will probably go down in history as the first good blockchain idea with terrible execution.
Now I have always found it odd that the whole space has to suffer because Bitcoin or Ethereum have problems. No sane/rational person would accept that in any other markets.
This brings me to my main point: Cardano needs to step up and show the entire community how itâs stack is better than anyone elseâs. Now is a crucial inflection point for the space and I am convinced that no other open platform can do what Cardano can.
There has never been a better time to reclaim that throne. Cardano is simply too good of a stack to be number 8 at this point. How can anyone miss this???
This was posted by @regisg on telegram⌠The article outlines the ills of Ethereum. Thought Iâd repost it here. It doesnât mention Cardano, but I think that, as we hit our milestones, it will only be a matter of time.
Ethereum as SC platform is not live, itâs moribund : when you do a successful product on it you are punished with higher fees. Have you read the blog post ? Itâs not usable yet, itâs a nice proof of concept.
Stellar have these common use-cases baked in, thatâs why they are shouting about it. There is zero reason Ethereum canât add primitives for tokenisation. The article assumes Ethereum wonât change, clearly it will; fyi Stellar is not Turing complete. Donât underestimate how many people are working on that platform, expect sidechains, etc.
Q: are you telling me Ethereum isnât the leader in the SC space?
I find it hilarious that when you ask why ETH will survive, they say it will change. But to have a chance at survival they need to start from scratch. In other words you canât build any stuff on top of a shaky foundation. If they canât transition to POS properly, what else canât they do?
In this space, if you donât evolve, you die. It seems they canât evolve even if they wanted to.
Lets keep in mind one very important factâŚEthereum is serving and functioning as a very important purpose for Cardano, and that is we will learn from Ethereumâs mistakes, we are benefiting from their faults. we need ethereum as a guideline, so as to what not to do. Ethereum is first generation, first generation always gets replaced and so on, As long as Cardano is open minded, mentally and physically, being able to adapt is key to success and hence we have Sir.Charles Hoskinson, the ultimate chameleon! Patience is key, time is our friend, like the good ole saying says âSlow and Steady Wins the Race!â
Thanks. It was an interesting read. I am not quite convinced they have any system or a formalized process in place.
Reading Vitalikâs explanation was painful. It seems they are just wandering blindfolded in a sea filled with sharks. If anything, their line of reasoning convinces serious players to stay away from this platform as these kids are just tinkering with a product in their garage but you might be in for losing millions if you build something on top of it.
I also see how they are using the term âcorrect by constructionâ in a way that dilutes its meaning. I am familiar with that term from K-Framework.
You are right, Cardano is also in the research phase. The huge difference here is that Cardano hires professional cryptologists and PhDs to do the work. These are highly trained people in their field using scientific methods to study a subject and prove its fundamental properties. As CH puts it, blockchain is an interdisciplinary field.
You need many inputs from different fields to construct a solid ecosystem. It cannot be built by two coders. Not by a long shot. They might be smart in their narrow field, but they need a lot more than coding to reliably reason and construct a correct system. I am not saying they canât learn, but they just donât have enough time to do it all. This is why hiring the right people is so crucial. It saves time and costly mistakes. This is why Ethereum is flawed.
To think that a âgeniusâ dropout could produce a better product is to insult the intelligence of the whole scientific community.
DittoâŚVitalik is a dropout, though very smart, he lacks depth of knowledgeâŚyet he attacks those with PHDâs & decades of experience in the field, while refusing to submit his papers for academic peer-review, as though he is a crypto godâŚheâs is a narcissistic that lacks common sense.
Look at who published that article - Stellar X - which is the marketplace for Stellar. I would argue that they lack objectivity considering they are a competing top 10 crypto. That is like reading a critical article on a medicine written by a rival pharmaceutical company.
