3 ms·

What's the point of Ether though? Is there any actual use case? The only crypto usecase I've seen so far that makes sense is for Bitcoin, a store of value, lik

What's the point of Ether though? Is there any actual use case? The only crypto usecase I've seen so far that makes sense is for Bitcoin, a store of value, like digital gold. Works against inflation of fiat currencies etc.

Vadoff 6y ago
I’ve done some research in the past trying to answer that question as well, and I concluded that there really wasn’t any, at least not any large ones. Ethereum allows decentralized smart contracts, but the value seems fairly limited. The most promising use case I found was for a decentralized exchange... but that doesn’t seem valuable enough to justify its price. Also, a decentralized exchange + smart contracts are possible via L3 solution on Bitcoin and Lightning Network too. Three other competitors in the smart contract space are also among the top 10 coins: Polkadot, Cardano and Chainlink.
- gge 6y ago
  Wrong. You haven't done any research, defi apps on Ethereum have grown a lot in usage in 2020: https://defipulse.com/ https://defipulse.com/
- gge 6y ago
  Also Chainlink isn't in the smart contract space, its in the decentralised oracle space. Polkadot is more of a "blockchain of blockchains" rather than an Ethereum competitor. Cardano is a smart contract platform like Ethereum but it is a dead project. Ethereum sees tons of usage while Cardano is just a ghost chain.
gge 6y ago
Yes, have u not been paying attention in 2020? Defi apps on Ethereum have grown a lot and now have tons of usage: https://defipulse.com/ https://defipulse.com/
carlosdp 6y ago
The point of Ethereum is to leverage smart contracts on the blockchain to create a "world computer", ie. a completely decentralized compute layer. Some cool stuff can be done today, but we're not quite at the place where we can build truly generically useful stuff yet. Ethereum 2.0, which is just starting to launch now and will take another 2 years probably to be actually useful, goes a long way toward making it really powerful as a platform though, imo.

Vadoff 6y ago

I’ve done some research in the past trying to answer that question as well, and I concluded that there really wasn’t any, at least not any large ones. Ethereum allows decentralized smart contracts, but the value seems fairly limited. The most promising use case I found was for a decentralized exchange... but that doesn’t seem valuable enough to justify its price. Also, a decentralized exchange + smart contracts are possible via L3 solution on Bitcoin and Lightning Network too. Three other competitors in the smart contract space are also among the top 10 coins: Polkadot, Cardano and Chainlink.

gge 6y ago
Wrong. You haven't done any research, defi apps on Ethereum have grown a lot in usage in 2020: https://defipulse.com/ https://defipulse.com/
gge 6y ago
Also Chainlink isn't in the smart contract space, its in the decentralised oracle space. Polkadot is more of a "blockchain of blockchains" rather than an Ethereum competitor. Cardano is a smart contract platform like Ethereum but it is a dead project. Ethereum sees tons of usage while Cardano is just a ghost chain.

gge 6y ago

Yes, have u not been paying attention in 2020? Defi apps on Ethereum have grown a lot and now have tons of usage: https://defipulse.com/ https://defipulse.com/

carlosdp 6y ago

The point of Ethereum is to leverage smart contracts on the blockchain to create a "world computer", ie. a completely decentralized compute layer. Some cool stuff can be done today, but we're not quite at the place where we can build truly generically useful stuff yet. Ethereum 2.0, which is just starting to launch now and will take another 2 years probably to be actually useful, goes a long way toward making it really powerful as a platform though, imo.