Rodolfo Andragnes said that Ethereum has become the de facto language of innovation.
Javier Basstardo believes that Ethereum has moved from complementing Bitcoin to competing with it.
When Ethereum was created in 2015, Bitcoin had already been surfing the Internet for six years. In fact, Vitalik Buterin and the other founders intended to prioritize aspects that, in their view, were left out of the basic premise of Bitcoin, which is the creation of a decentralized monetary system.
a) yes, Ethereum is created with the aim of promoting the development of decentralized applications and protocols based on smart contracts. This is something that can be done in Bitcoin, but with increased complexity.
Over time, the ecosystems of both networks grew and each one added its adherents, some more “fundamentalist” than others. however, This does not mean that there is no recognition or even likes For the ideas that emerged in these seven years.
On the occasion of Ethereum’s seventh birthday, CriptoNoticias consulted several Bitcoins regarding what they think of its development in these years and what it has been able to offer – or not – to the ecosystem. This they answered us.
Rodolfo Andragnes: “Ethereum’s achievements in terms of adoption are inspiring”
Rodolfo Andragnes is the co-founder and president of the NGO Bitcoin Argentina, an NGO focused on spreading and educating Bitcoin in the country.
In an interview with this newspaper, He emphasized that “in terms of adoption, the realization of Ethereum has been incredible and inspiring.”. The network has become the mainstay and the language In fact of the most innovations in the ecosystem.”
However, he also emphasized that he was “unfortunately out of it”, Ethereum has become a “host of shady models and schemes” that damage its credibility. And he repeats that this is not the fault of the network, but the fault of those who use it.
On the scale difficulties Ethereum has faced, the Argentine believes that this is something that has happened with most blockchains. It is difficult to achieve this without affecting decentralizationhe asserts, while noting that today in Ethereum there are “a few nodes that focus on the entire blockchain or rely heavily on a few validation services.”
Despite everything, Ethereum is a well-developed project. It has demonstrable resilience and strong support from the entire developer and user community.
From Andragnes’ perspective, comparing Bitcoin and Ethereum “is a meaningless argument because they are projects with different goals.” In fact, Both networks share “many challenges ahead”. Just as Ethereum will have to improve scalability, Bitcoin will have high traceability and low issuance issues, he says.
Other difficulties Ethereum could face in the future would have to do, according to Andragnes, with the appreciation of its currency, which “attempts against its use as contract-executing gas” and the range of attacks it faces for being a full Turing. . until Other cryptocurrencies, being centralized, can offer a similar benefit At lower costs, this may complicate their future, he says.
Despite that, he says, “I think we’ve had Ethereum for a while, because it has proven to be a much more open and resilient community than Bitcoin.” “Ultimately, it’s not the code that matters, it’s the people, so you’ll take steps toward systematic improvement and goal achievement,” he concluded.
Manuel Ferrari: “Protocols in Ethereum solve the problems of millions of people”
Manuel Ferrari is the co-founder and current contributor to Money On Chain, a protocol that issues a dollar-on-chain (DoC) fixed currency. As can be seen on his Twitter profile, he describes himself as “maximum freedom” and has a stated interest in Bitcoin, But that does not stop him from evaluating what Ethereum has achieved.
“Ethereum has brought so many innovations to finance. It is incredible how many users and protocols have grown in recent years. They are protocols that solve real problems for thousands or millions of people,” he said.
especially, Notable projects such as Compound, Uniswap, Aave and Makerwhich brought multiple opportunities for financial freedom. In addition, he appreciated the contribution of networks built from Ethereum, such as Avalanche, BSC, Polkadot, Polygon, and RSK.
Can Bitcoin and Ethereum be compared? This was Ferrari’s opinion: “They are different. Bitcoin has one goal of being hard money and being the most censorship-resistant network of currencies on the planet. In that, it is unbeatable. I don’t see Ethereum competing with it.”
“Bitcoin is more secure and scalable than Ethereum, but has less flexibility, and does not allow programming in its layer 1 like Ethereum. However, for Bitcoin there are actually two layers like Rootstock (RSK), where you can do the same thing as in Ethereum.”
Despite this “technological superiority” of Bitcoin, the Argentine emphasized that the Ethereum ecosystem is “a much bigger one, with more users and more innovation.” For this reason, he warns that this network could grow further in adoption in the “multi-chain future.”, such as BNB Chain, Avalanche, Polygon, Polkadot, RSK, and “others to come”. However, he maintains that Ethereum could be a “relevant player in the near future, although it is not the only one.”
Javier Bastardo: “Ethereum is shifting and that hasn’t allowed it to get a solid footing”
Javier Bastardo is a reference when talking about Bitcoin in Venezuela. There he participates in two educational initiatives, Satoshi in Venezuela and La Bitblioteca. Additionally, he hosts podcasts Let’s talk about Bitcoin.
Without hiding his preference for the net created by Satoshi Nakamoto, Ethereum highlights the potential for development smart contracts And the fact that it was the first network to focus on “It attracts a lot of users, developers and capital.” Thus, he explains, it has become “one of the most widely used networks and allows for interesting use cases, although many are speculative.”
However, Bastardo explained that Ethereum “was born as a complementary and parallel technology to Bitcoin, and then changed its narrative to become a competitor, particularly in the monetary sphere.” in this plane Bitcoin is superior “because of its known and easily auditable limits,” compares.
In addition, he adds, “In terms of delivering and achieving something, Bitcoin is also better.” “Ethereum has been converted and that has not allowed it to have a solid foundation to build something long-term. When it reaches its final form, who knows.”
Regarding the future of this network, Bastardo believes that “Ethereum may achieve its goals” and that the decentralization process will continue until the presence of Vitalik Buterin does not have the effect of changing aspects of its protocol. He concludes, “If you think about it, it might be possible to achieve greater adoption, although with Bitcoin it would be the same.”
Camilo Jorajuría de León: “Ethereum Promises Things You Don’t Really Do”
Camilo Jorajuría de León from Argentina works as an open Bitcoin and blockchain advisor at 21M BitFintech and Aleph Citadel. Among those consulted, it was he who revealed a more “radical” view.to the point of deeming Ethereum a “scam”.
This qualification comes from the concept of “fraud” as “the promotion of something with an air that is clearly superior to what it really is”. Therefore, he says, “You have to compare what Ethereum promises versus what it actually does.”
in this meaning, He questioned the fact that the network promises unsupervised smart contractswhen “the most common contracts actually have administrators and can not only be monitored, but due to their poor development, they are regularly hacked”.
He also criticized the monetary policy of ETH. “It inevitably rivals Bitcoin and in the long-run it will irreversibly depreciate.” In this regard, he added, “There is no security in a network with a Proof of Work (Proof of Work), unless the token is of sufficient value to be worth mining.”
Finally, he criticized that instead of being a “static database”, the network changes according to the “will of influencers”, such as Vitalik Buterin.
Ethereum splits water between bitcoins
Today’s two largest networks have a lot to offer, and their users are not necessarily on opposite ends of the spectrum in ideology or intent. With their specific characteristics and goals, both strive to solve the problems of society.
however, Among Bitcoin advocates, there is no consensus about Ethereum. For some, it is a serious project with a future, while for others it is an initiative that did not deliver on what was promised and stunned the way.
The truth is that there is still history to be written. As of the consolidation and transition to Ethereum 2.0, this network will seek to start a new phase that will gradually lead it towards the scalability and efficiency that its developers and users crave.
For those who want to read reviews ether Speaking of Ethereum, CriptoNoticias has prepared a report that was published hours ago. There the opinions of Santiago Seri, Justin Drake, David Reyes and others are poured.