Is Ethereum Dead?
Is Ethereum dead?
This question originally appeared on Quora, the knowledge sharing network where compelling questions are answered by people with unique insights.
Answers are by Will Salisbury, Brian Schuster, Benard Quek, Derrick Szpotek, Crypto Knight, Anonymous, Burak Kural, and Doug Dailey.
Will Salisbury, CEO, Entrepreneur, Cryptocurrency Day Trader
No. There are ICOs being created using Ethereum every hour. Additionally, upgrades to the Ethereum network are being implemented as we speak (Raiden). Finally, Ethereum is moving from PoW to PoS relatively soon.
What does all of this mean? That Ethereum is poised to explode in value once its issues have been addressed.
It’s correcting right now because the entire market is panicking over regulatory fears. It has absolutely nothing to do with the overall health of Ethereum.
Once the scalability issues are fixed, what are you left with? A great, well-known platform designed to host hundreds of thousands of decentralized apps that service the public. Ethereum is so extremely useful I seriously doubt it’ll ever die.
So, is Ethereum dead? No, quite the opposite. I predict by this time next year, Ethereum will be worth three times what it is now.
Brian Schuster, Blockchain Advisor and Entrepreneur
In the last 24 hours, Ethereum had over 700,000 transactions on their network.That’s by no means a small amount of transactions, despite being down from a high of over 1.2 million transactions earlier this year.
This does not take into consideration the number of improvements actively being worked on inside the ecosystem, like IPFS, the ENS Registrar, Plasma, Raiden and god knows what else.
I can see someone making an argument on why another network might overtake Ethereum, but it’s not because it’s dead. Still by today’s standards, it’s one of the most popular decentralized networks in the world.
Benard Quek, ICO Growth Hacker (2017-present)
No. How can it die when it has real-world uses? ICOs depend on the smart contract blockchain and there is an ICO born every hour.
Of the two, Ethereum and Bitcoin, only Ethereum has a sustainable model. Of course there are other Ethereum-like blockchains but they don’t seem to have captured the interest of the public.
Derrick Szpotek, Bitcoin Investment Affiliate (2016-present)
Not at all. There are too many tokens and altcoins that use the ERC20 protocol of Ethereum for it to fail. Also, the smart contract abilities that Ethereum provides will give it the strength it needs to recover and flourish.
Crypto Knight, Technical Analyst/CEO (2017-present)
Price cannot be a barometer to determine whether a crypto is dead or not. It’s the innate value of each of these cryptos that ends up being the driving force behind the surge of these cryptos once the bear market comes to an end.
I personally see Ether to be above $2500 by the end of 2019 latest.
Whole of cryptomarket is shaken up by FUD (fear, uncertainty and doubt), Google ban on ICO adverts, banks tightening buying of cryptos and potential challenges from G20 conference. Long term HODL in my opinion.
Burak Kural, Bus. Dev.
No, it’s being corrected. Happened to BTC now happening to ETH but affecting the whole industry.
Doug Dailey, Forex and Cryptocurrency Trader
Ethereum is correcting. It will rebound when Smart Money is done with their accumulation.
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