By Victor Agreda
Did you know Ethereum has died 42 times? It’s not unusual for prognosticators to “kill” new technology before its time. Remember when Microsoft held a funeral for the iPhone? That didn’t work out so well for Microsoft. Blockchain’s popularity has seen a meteoric rise in the past few years, and Ethereum has been a huge part of that. For many, Ethereum is the platform for fundraising and building applications. Yet, Jimmy Ragosa, who works at VariabL, put together a list of “Ethereum Obituaries” on GitHub.
As with all GitHub projects, it allows collaboration. The criteria? “Verify that the link you want to add states that the Ethereum project is failing / ending / over / killed / outclassed / dead / going to zero either in the post title or in its contents.” To be fair, some of the articles are merely forum postings, and others crowdsourced Medium articles and the like. Yet even a writer at Fortune counted Ethereum out, although it’s probably the brightest journalistic star in this constellation of “claim chowder.”
Just on September 12, 2018 Bloomberg published a story titled Crypto’s 80% Plunge Is Now Worse Than the Dot-Com Crash. We’ll have to add that to the Ragosa’s.
A number of the declarations usually follow after some dip in value due to external sources, but there were also two events that portended doom upon the project. One was the hack that resulted in a fork, and that’s perhaps understandable. The other has to do with scaling, and events that show that pinch point in Ethereum’s platform. CryptoKitties exposed that issue, and there’s certainly an argument on that. But the point people miss most often: Ethereum’s death keeps being reported, but it keep growing nonetheless. Just take a look at Etherscan and see how “gas” use continues to rise even as the price of Ether has dropped.
- Recommended listening: The Bull Case For Ethereum with Spencer Noon, Cyrus Unesi and Tony Sheng
- Recommended reading: Strategic Coin’s five-part series Chronicles of Ethereum
Strategic Coin is a subsidiary of Strategic Blockchain, Inc. (SBI), a consulting and blockchain platform development firm. Learn more about SBI’s capabilities at strategicblockchain.io.