Interest in the ethereum blockchain has soared over the past year, as developers have turned to it to create a wave of decentralised finance projects, known as DeFi, and unique digital tokens called NFTs. The rise of new applications like these have already created what supporters claim is a powerful network effect, as increasing activity brings more and more developers to ethereum. However, nimbler rivals are emerging.
| less than a minute read
Will the next web be built on ethereum?
Get in touch
.jpg)
Get in touch
But there remain fundamental questions over whether ethereum, which is heavily behind schedule with a complex set of technical upgrades, will be able to compete with nimbler rivals, and whether any consensus will emerge on its long-term role as the crypto world evolves. “There isn’t a shared narrative in the ethereum ecosystem,” said Avichal Garg at Electric Capital, an investment firm in San Francisco. “Is it a commodity like oil, digital gold, a better bitcoin?” Until the investment world decides on an answer, the price of ethereum’s tokens, is likely to be volatile, he and others warned.
Get in touch
Get in touch
