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To be clear, ADA doesn't have a smart contract platform yet. I believe that's part of the update that is coming in a couple of days. They've been building tow

by jki275 6y ago

To be clear, ADA doesn't have a smart contract platform yet. I believe that's part of the update that is coming in a couple of days. They've been building towards that for several years and have done a lot of great work in the space. Tezos is quite a bit ahead of ADA in that particular respect as they have smart contracts already. I don't believe ETH2 will ever show up, but who knows. Full disclosure, I've got holdings in both ADA and XTZ.

Tenoke 6y ago
>To be clear, ADA doesn't have a smart contract platform yet. Yes, as I said it is planned to come in early Q2. What comes tomorrow is a necessary step in that direction - the introduction of tokens on the ADA network. For what is worth, I see little reason to doubt that their smart launch will go well - I used their playground and looked at the activity in the testnet and it all seems to be going as planned. The bigger question is whether enough projects will move/launch there.
- jki275 6y ago
  I'm pretty confident they'll do it right. For those who don't know, the founder of IOHK (which created ADA) is one of the co-founders of ETH. I'm confident in his ethics and his ability. I'm not so confident in the ethics of the ETH project anymore. -edited above since I get rate limited every time I post more than two posts in a day, read the following as a response to the post calling me a liar below: Ok, I edited to take out the reference to when he left since apparently I made a mistake on the dates -- I thought he was still in the ETH foundation when that happened. However, he was one of the few voices calling for the ETH foundation not to hard fork to just roll back the DAO hack. The ETH foundation did what was expedient for them financially, and ignored the core tenet of cryptocurrency. Fact remains, ETH was an immature cryptocurrency, run by immature people, who made immature mistakes. He was one of the few who called them out over it. You can see what he has done over the years since with IOHK to bring maturity to the space. I think the results with ADA speak for themselves.
  - pa7x1 6y ago
    This is absolutely untrue. Charles Hoskinson left the Ethereum Foundation in June 2014. The DAO hack occurred in June 2016. He left because he wanted the Ethereum Foundation to be a for-profit while the rest of founders were looking to make it a non-profit foundation. This is by his own account, the other side of the story doesn't look as good for him but I have no idea what happened so I give him the benefit of the doubt.
- jki275 6y ago
  They have one now, the fork launched a couple of hours ago.
flixic 6y ago
Well, if Ethereum 2.0 "never shows up", that's $5.3B locked in a contract[0] that "will never do anything". I think $5.3B is sufficient motivation to get it released. [0]: https://etherscan.io/address/0x00000000219ab540356cbb839cbe05303d7705fa https://etherscan.io/address/0x00000000219ab540356cbb839cbe0...
- jki275 6y ago
  But it's not. Not really. That's the same as claiming that the "market cap" of a cryptocurrency has some meaning. It really doesn't. Both of those statements assume that somehow every ETH coin ever minted can be sold for the asking price right now. That's an obviously laughable assumption.
- lmm 6y ago
  In a world where Ethereum 2.0 turns out to be difficult or irrelevant, the value of that contract will drop a lot for the same reasons.

by jki275 6y ago

Tenoke 6y ago

>To be clear, ADA doesn't have a smart contract platform yet. Yes, as I said it is planned to come in early Q2. What comes tomorrow is a necessary step in that direction - the introduction of tokens on the ADA network. For what is worth, I see little reason to doubt that their smart launch will go well - I used their playground and looked at the activity in the testnet and it all seems to be going as planned. The bigger question is whether enough projects will move/launch there.

jki275 6y ago
I'm pretty confident they'll do it right. For those who don't know, the founder of IOHK (which created ADA) is one of the co-founders of ETH. I'm confident in his ethics and his ability. I'm not so confident in the ethics of the ETH project anymore. -edited above since I get rate limited every time I post more than two posts in a day, read the following as a response to the post calling me a liar below: Ok, I edited to take out the reference to when he left since apparently I made a mistake on the dates -- I thought he was still in the ETH foundation when that happened. However, he was one of the few voices calling for the ETH foundation not to hard fork to just roll back the DAO hack. The ETH foundation did what was expedient for them financially, and ignored the core tenet of cryptocurrency. Fact remains, ETH was an immature cryptocurrency, run by immature people, who made immature mistakes. He was one of the few who called them out over it. You can see what he has done over the years since with IOHK to bring maturity to the space. I think the results with ADA speak for themselves.
- pa7x1 6y ago
  This is absolutely untrue. Charles Hoskinson left the Ethereum Foundation in June 2014. The DAO hack occurred in June 2016. He left because he wanted the Ethereum Foundation to be a for-profit while the rest of founders were looking to make it a non-profit foundation. This is by his own account, the other side of the story doesn't look as good for him but I have no idea what happened so I give him the benefit of the doubt.
jki275 6y ago
They have one now, the fork launched a couple of hours ago.

flixic 6y ago

Well, if Ethereum 2.0 "never shows up", that's $5.3B locked in a contract[0] that "will never do anything". I think $5.3B is sufficient motivation to get it released. [0]: https://etherscan.io/address/0x00000000219ab540356cbb839cbe05303d7705fa https://etherscan.io/address/0x00000000219ab540356cbb839cbe0...

jki275 6y ago
But it's not. Not really. That's the same as claiming that the "market cap" of a cryptocurrency has some meaning. It really doesn't. Both of those statements assume that somehow every ETH coin ever minted can be sold for the asking price right now. That's an obviously laughable assumption.
lmm 6y ago
In a world where Ethereum 2.0 turns out to be difficult or irrelevant, the value of that contract will drop a lot for the same reasons.