Okay, it’s become cringeworthy just to hear or utter the acronym. The growing pains of any new hype cycle, but this is getting really bad. Some people are forecasting that Ethereum might just become a victim of it’s own success. It doesn’t mean they think Ethereum will fail by any stretch, but perhaps there will be a little setback for a major comeback? Not the underlying tech, but maybe ETH value and the alt coin markets.
We’ve talked about this early on in the agora, people generally need to learn to separate the evolution of the space, the tech and the evolution of the token markets by some degree, basically Venn diagraming #blockchain from #tokens from #trading. This proliferation of token launches is so absurd, some of us feel dirty even saying that we invest in crypto-currencies other than BTC/ETH, seriously.
Ethereum is NOT the only protocol to allow tokenization, it however is the most popular. Another issue at bat is why the price of ETH has seemingly been stuck at around $300 mark. Any type of upside has seen immediate sell pressure bringing it back to its Spartan marker. This may likely be tied to all the ICO reserves that choose to liquidate ETH (cash out) whenever there is some profit, some may even be converting their holdings into BTC at this point. Either way, not a great look for ETH overall.
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Plasm, Sharding, Casper, ZkSnarks, blah blah… don’t get me wrong, we’re big supporters and believers of Ethereum but this wave of ICOs needs to pass along with the second part of the upgrade, Constantinople, we need a stable environment and clarity in order for current and future projects to have guidance and know how to match their own milestones of production. These points are integral for alt-token projects, anyone that argues against that is not being pragmatic in that regard. If your relying on other people’s pillars, your superstructure is always at risk infrastructure wise.
But, the good news is this should be temporary however this could be a painful process if there continues to be signaling of failures and to much blitz and sprawl within the Ethereum developer community.