Ethereum has a clear founder and is developed by many developers. This makes it one of the most trusted platforms.
What's more, blockchain makes Ether currency have a decentralized system. It can be an alternative for the banking world today.
Topic: ETH is always one step behind the competition - page 2. (Read 442 times)
I don't think it's all about technology, but also the mark they print in the community, that's what makes ETH always so attractive and valuable, apart from being first in smart contracts, ETH has always been second in the shadow of Bitcoin always being the first first , next BNB,CARDANO and ZIL under ETH
Ethereum has been around the longest and has earned people's trust. Newer coins like Solana might be better in some regards but it has had stability issues. Every ETH competitor I have seen is incredibly centralized. BNB, SOL, and AVA all have companies who are running the network. A lot of these coins grew in popularity because of ETH's scaling issues. Once ETH starts having issues again we might see these coins start to gain market share again.
ethereum is only inferior to technology but it never lags behind in the rankings and remains second only to bitcoin from anyone's view. I wonder why ethereum uses technology in general, different as ziqilla does because it's better to use technology that is easy for everyone to understand than great technology but confused to use, but I hope it also has high security.
ETH might be late on the adoption but it is still consider the top altcoins, many still believe that ETH is taking the path at the perfect timing, this update might outdate already since many coins already under the POS network but this will still play a big role for ETH, the best price is yet to come and ETH will be having more updates. The community still trust ETH, especially the big investors that can still be the reason to stay active on top.
whether it's bitcoin or ethereum they stay longer than ziqilla or other coins that rank below them. both coins have been successful in gaining their community, building strong fundamentals that are not easy to compete with. even if there is a coin that has good technology, it will not be able to compete with bitcoin and ethereum because of the trust of the community.
Ethereum was first to have smart contracts afaik — being early advantage, and community matters a lot in valuing a coin. Just look at doge.
I also think this is one of the reason why ETH is somehow "overpriced". There are lots of project running on ETH network that supports the ETH economy. So even though ETH is a step behind in the Tech competition, they have the populace of project that support their price in the market. In short, ETH have more usage than those who are ahead in technology.
It is the 2nd largest coin in the crypto industry, there is a large community behind it, so it is no wonder that it is receiving such great interest and the ETH upgrade to POS will help ETH is better. As you said, we have had a lot of proof-of-stake altcoins in the past and outperformed ETH in terms of technology, so why hasn't there been a coin that has overtaken ETH as the best altcoin yet? ETH is very slow, gas fees are high but it is always the first choice of large projects, showing that it is still safer and better than BNB or ADA. Now I will wait and see what other altcoins will do when ETH has moved POS like them. The altcoin war is now really starting.
I don't get why people are so hyped about ETH's switch to PoS (The Merge) when we already had other PoS blockchains in the first place (eg: Cardano, BNB). Competing chains often add new features before ETH does. Even Zilliqa adopted "Sharding" (which is a scaling technique), before ETH did. Yet, ZIL's price is nothing compared to ETH. If ETH is always one step behind, then why it's extremely valuable? Doesn't that make ETH overpriced? I'd say the same about Bitcoin, but no other crypto outmatches its level of decentralization and censorship-resistance.
What are your thoughts?
What are your thoughts?
Tech, even if it would be developed first by other chains is irrelevant without developers building with it and user base using it. And most of this tech is easy to adapt to eth anyway. Not everything but most. If there will be a superior chain that's not eth, using cutting edge tech that's hard implement to eth, developers slowly will move to it. But ETH has all the brainiacs and no other chain attracts as much geniuses so i woudn't hold by breath anyone beating eth any time soon.
in fact, ethereum was the first, it was the forerunner to have smart contracts and to have erc 20 tokens and nft on its blockchain is true there are already other altcoins that are pos, the only difference? that ethereum is worth much more
I don't get why people are so hyped about ETH's switch to PoS (The Merge) when we already had other PoS blockchains in the first place (eg: Cardano, BNB). Competing chains often add new features before ETH does. Even Zilliqa adopted "Sharding" (which is a scaling technique), before ETH did. Yet, ZIL's price is nothing compared to ETH. If ETH is always one step behind, then why it's extremely valuable? Doesn't that make ETH overpriced? I'd say the same about Bitcoin, but no other crypto outmatches its level of decentralization and censorship-resistance.
It's a normal feeling that humans feel every time there as an upcoming event and maybe those who are so hyped about it have been a fan of eth since then. They are expecting that the merge can help eth became better in terms of value, fees and others. Sure there are first pos projects than eth but they are not the main altcoin. I think the impact will be different when the same thing have been applied to eth.Eth may be one step behind compared to those coins but that was before but now not anymore because eth have finally joined the bandwagon. Eth isn't overpriced yet but its current value is still lower compared to it's last year's price.
Before Cardano or BNB existed Ethereum was the first to exist for crypto, that's why from the past until now many people still hold their Ethereum, it's just that at that time Ethereum gas was getting higher and some people might switch to BNB. After the Ethereum merger, there may be a lot of people chasing Ethereum because the current price is still relatively low and gas is not as high as it used to be.
Ethereum was first to have smart contracts afaik — being early advantage, and community matters a lot in valuing a coin. Just look at doge.
This is a proof that once you lead the market at the early stage, you will get the respect of many and that's why ETH remains the top altcoins despite of many problems we have encountered especially with slow transactions and a higher fees. Yes, ETH got hyped by merging into POS network maybe because many sees a good update for this one since POW is not working good for ETH anymore. This is a long term plan for ETH that's why many are so optimistic about the possible result of this merge. We all have our own analysis with regards to this, and personally I'm also bullish on this. 
Initially Ethereum is a Proof of Work coin that is understandable back in years ago when Bitcoin is the biggest cryptocurrency and other altcoins copied its algorithm, code. Ethereum is a pioneer in altcoin space with smart contract but Vitalik and Ethereum team decided to stay with PoW.
You are right that many altcoins had Proof of Stake years ago, even in the 2017 bull run, not recently.
I guess Ethereum team believed in PoW in early years and when they decided to build and switch to PoS, their network simply was too big already. Consequently, they were fearful of mistake, bugs and delayed the upgrades for years.
You are right that many altcoins had Proof of Stake years ago, even in the 2017 bull run, not recently.
I guess Ethereum team believed in PoW in early years and when they decided to build and switch to PoS, their network simply was too big already. Consequently, they were fearful of mistake, bugs and delayed the upgrades for years.
also, even if eth platform seems to be late with switching to PoS, i think people have more confidence as Vitalik is a visible figure behind this network. and we know, he won't fail his supporters. unlike some new networks, the possibility of cashing out and disappear is highly probable. but with Buterin behind Eth, i don't think we will not see some warning signals if he decides to exit this market.
Initially Ethereum is a Proof of Work coin that is understandable back in years ago when Bitcoin is the biggest cryptocurrency and other altcoins copied its algorithm, code. Ethereum is a pioneer in altcoin space with smart contract but Vitalik and Ethereum team decided to stay with PoW.
You are right that many altcoins had Proof of Stake years ago, even in the 2017 bull run, not recently.
I guess Ethereum team believed in PoW in early years and when they decided to build and switch to PoS, their network simply was too big already. Consequently, they were fearful of mistake, bugs and delayed the upgrades for years.
You are right that many altcoins had Proof of Stake years ago, even in the 2017 bull run, not recently.
I guess Ethereum team believed in PoW in early years and when they decided to build and switch to PoS, their network simply was too big already. Consequently, they were fearful of mistake, bugs and delayed the upgrades for years.
I don't get why people are so hyped about ETH's switch to PoS (The Merge) when we already had other PoS blockchains in the first place (eg: Cardano, BNB). Competing chains often add new features before ETH does. Even Zilliqa adopted "Sharding" (which is a scaling technique), before ETH did. Yet, ZIL's price is nothing compared to ETH. If ETH is always one step behind, then why it's extremely valuable? Doesn't that make ETH overpriced? I'd say the same about Bitcoin, but no other crypto outmatches its level of decentralization and censorship-resistance.
What are your thoughts?
Because the Ethereum project is supported by very serious market makers, who act as manipulators. It is thanks to them that Ethereum and its futures are traded on major world exchanges. Zil and other projects do not have such support and liquidity, so this project is not interesting and its price is falling. What are your thoughts?
historically speaking, ethereum has always had a very enthusiastic community behind the project, and has been supported by operators in the sector (exchanges) or other "big companies" (it is not just that google has supported the merge with a lot of doodle or countdown)
they also have the advantage of being a well-known crypto even outside the circle of those interested in this sector.
the price pump from launch to date has created an attraction, as well as several tokens or NFTs that have chosen the launch on their blockchain as their primary option.
We have all seen how in 2017 ICOs "changed" this sector making it extremely mainstream ... and vast majority/successful have been launched here.
they also have the advantage of being a well-known crypto even outside the circle of those interested in this sector.
the price pump from launch to date has created an attraction, as well as several tokens or NFTs that have chosen the launch on their blockchain as their primary option.
We have all seen how in 2017 ICOs "changed" this sector making it extremely mainstream ... and vast majority/successful have been launched here.
Networks effects and infrastructure is too valuable. It doesn't matter, for instance, if someone develops a cool privacy feature that Bitcoin doesn't have. It would lack the userbase, the brand, the everything.
Similar for Ethereum. Network effects are too powerful.
Copying Ethereum and then "making it better" (very debatable) has proven to be, over the long run, a failing strategy.
In order to be successful you need to invent something. You need to create Bitcoin for money. You need to create Ethereum for smart contracts. You need to create XYZ to fill a market need that doesn't exist to become a market leader with sufficient network effects.
Similar for Ethereum. Network effects are too powerful.
Copying Ethereum and then "making it better" (very debatable) has proven to be, over the long run, a failing strategy.
In order to be successful you need to invent something. You need to create Bitcoin for money. You need to create Ethereum for smart contracts. You need to create XYZ to fill a market need that doesn't exist to become a market leader with sufficient network effects.
Hype was regarding its existence through PoW and large number of miners working on it around the world and question about “what will happen next to their equipment’s”? Everyone is still terrified since mining is no longer option for them in terms ETH mining.
That’s the hype about it and it’s reasonable.
Now there is option (which isn’t official) they can operate the proposed fork network tagged ETHPoW, for EthereumPoW (ETHW). But this isn’t available and that’s why it’s problem for the miners.
That’s the hype about it and it’s reasonable.
Now there is option (which isn’t official) they can operate the proposed fork network tagged ETHPoW, for EthereumPoW (ETHW). But this isn’t available and that’s why it’s problem for the miners.
People worry about the fact that usually something new is scary than already established moments. Initially, as always, there will be suspicions and checks. ETH is one of the founders of the whole technology in general and this important component cannot be underestimated. Progress is moving forward and such dinosaurs will always be in their place and offer new development.
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