Vitalik Buterin’s greatest regret over building Ethereum

Vitalik Buterin's greatest regret over building Ethereum

Update: After this story was published Vitalik Buterin tweeted that he did not regret the delay to the launch of Ethereum, which was in July 2015 (the presale was in 2014). He said he was referring, instead, to its technical deficiencies.

Vitalik Buterin has a deep regret about Ethereum. The 26-year-old blockchain co-founder tweeted today that he believes the platform’s launch was premature. 

The second biggest blockchain by market cap, Ethereum launched to great fanfare in 2014. Buterin has since been honoured for his groundbreaking contribution to decentralization and the digital revolution.

But he revealed today that, had Ethereum launched just 10 months later, the defects that the development team have spent the subsequent years fixing could have been avoided.

Early design decisions, such as using Hex Trees as an internal data structure instead of the more common binary trees, were the main source of regret for Buterin. Another regret was using RLP—Recursive Length Prefix—which is a way to send information over a node. Ethereum developers dislike the format because it’s can’t be optimized, and is therefore inefficient. 

Buterin’s tweet was in response to developer Justin Drake, who had said that Ethereum 2.0—the platform’s long awaiting upgrade—could have been ready over a year ago, had developers followed the easy route to launch. 

“We made Eth2 hard for ourselves,” said Drake, and listed reasons including: the many design iterations the new blockchain had seen, and the number of clients that needed to be accommodated.

“We could have launched a year or two earlier the easy way. It was painful but it was right. Our investments will pay off for decades :),” he said.

Buterin wholeheartedly agreed with Drake, as did many others.

But questions about setbacks with Eth2 have plagued the Ethereum community of late. In response to a question about the launch last week Buterin seemed to confirm an interviewer’s suggestion of a July date, only to backtrack later and say he didn’t hear the July part of the question.  

“Everyone is asking why is Ethereum 2 delayed,” said Ben Edgington, of Teku, an Eth 2.0 client operator. “Delay suggests we missed that date and we’re trying to catch up. A much better question is ‘Why is it taking so long?’ And the reason is it’s complicated and we’re trying to do a really good job of it.”

And when the new platform finally launches—expected to be in the third quarter of the year, you can be sure there won’t be a Hex tree in sight.

Update: After this story was published Vitalik Buterin tweeted that he did not regret the delay to the launch of Ethereum, which was in July 2015 (the presale was in 2014). He said he was referring, instead, to its technical deficiencies.

Source: decrypt.co

Author: Decrypt / Adriana Hamacher


Top Analyst: Bitcoin, Ethereum and XRP on the Edge After Halving – Here's What to Watch for Next

Top Analyst: Bitcoin, Ethereum and XRP on the Edge After Halving – Here’s What to Watch for Next

Crypto analyst and author of An Altcoin Trader’s Handbook, Nik Patel, is updating his outlook on Bitcoin, Ethereum and XRP.

Patel says Bitcoin is facing a crucial moment at the $9,500 level. If the king of crypto can hold above that line, he believes a push to $10,550 is on the horizon. If not, he believes the bears will likely mount a comeback.

“This is why 9450-9500 is going to be super important post-halving…

There will be a lot of sell pressure coming in from everyone who’s been shafted after longing the breakout [and] retest. Overcome that and I think 10550 and higher is on the cards.”

As for Ethereum, Patel says the second-largest cryptocurrency needs to stay above the $195 level. If it can, he sees a lot of upside ahead.

If it breaks below that number, he believes a big drop to $156 is “very possible.”

If we do start to see price push back above [$195], I would then look for a higher-high to form, reverting market structure to bullish, before looking for any longs. Such a move would also take us above the important pivot at $228, which would likely lead to a swift retest of the high at $290.”

As for crypto’s third-biggest asset by market cap, XRP, Patel says it’s also on the edge at its current price of 20 cents.

“I am particularly interested in the highlighted area from which market structure has recently broken and turned bearish. This break and turn occurred from an important area also: the 200-day moving average.”

If XRP can push above 21 cents, he expects the coin to move further to the upside. If not, he believes a quick dip to 17.5 cents is likely.

At time of publishing, Bitcoin is at $9,566, up 2.81% in the last 24 hours, according to CoinMarketCap. Ethereum is up 1.36% at $201.01, and XRP is down 0.02% at $0.2012.

Source: dailyhodl.com


Ethereum (ETH) Price Prediction 2020, 2023, 2025 | PrimeXBT

Ethereum (ETH) Price Prediction 2020, 2023, 2025 | PrimeXBT

Ethereum is a cryptocurrency protocol that’s vastly different than Bitcoin, Litecoin, or other payment technologies, giving it additional value and potential. This guide helps understand that potential value through price predictions from experts and analysts alike.

Ethereum is vastly different from other cryptocurrencies such as Bitcoin, Litecoin, or even Ripple. Ethereum is a blockchain protocol for smart contracts, and Ether, also called ETH, is the native cryptocurrency that powers the Ethereum blockchain.

Ethereum runs smart contracts on what it calls the Ethereum Virtual Machine, which is essentially a supercomputer built on the blockchain. Because of its unique structure and being the first of its kind, Ethereum price predictions can be extremely high, with so many investors and industry experts believing in Ethereum growth in the long-term.

Ethereum projected growth as a network is also high, as the blockchain is not only used for smart contracts and transactions, but actual crypto assets are often built on Ethereum’s blockchain, giving it added value as speculation around the future of the crypto market is positive.

Because there is so much positivity surrounding cryptocurrencies and Ethereum potential is so high, many are left wondering “will Ethereum rise like Bitcoin,” and “how high can the price of Ethereum go?” This Ethereum price prediction guide will help paint a clear picture of estimated growth and the projected value of Ethereum over the years.

Ethereum Price Prediction | Will ETH Value Rise?

Following the success of Bitcoin, a young programmer named Vitalik Buterin became interested in the new financial technology and decided that the idea and concept could be improved upon and serve additional purposes beyond just a payments technology.

Ethereum’s blockchain can run smart contracts, or computer code designed to run a certain way autonomously. Thus far, smart contracts have been primarily used to run dApps – also called decentralized applications – such as CryptoKitties and others. The smart contracts have been programmed to act as a sort of trophy, proving ownership. This is unique in the world of digital technologies, as it allows the owner of the said trophy to transfer ownership using the smart contract via the Ethereum blockchain.

Development was entirely funded by a crowd sale, that resulted in 72 million pre-mined coins reaching the hands of long-term holders.

In 2016, an exploit in The DAO project – a decentralized autonomous organization – resulted in over $50 million worth of the Ethereum supply being stolen. Ethereum was later split into two separate blockchains, resulting in the new version becoming the true Ethereum with the ETH coin ticker, while the original blockchain continued on as Ethereum Classic with the ETC coin ticker.

What cryptocurrency will become the main one in a year?
BitcoinEthereum

Buterin did indeed create Ethereum and penned its whitepaper, many are credited with being founders of Ethereum, including Anthony Di Iorio, Charles Hoskinson, Mihai Alisie, Amir Chetrit, Joseph Lubin, Gavin Wood, and Jeffrey Wilke – one of the largest lists of founding members out of any crypto project.

Later, the Enterprise Ethereum Alliance was founded to help develop standards for use across the Ethereum blockchain, such as the ERC-20 standard that is used to develop new tokens operating on the Ethereum protocol.

It was actually Ethereum’s ability to help launch new crypto projects as ERC-20 tokens via what was called the initial coin offering, an early way for projects to raise capital via crowdfunding where the investors received a portion of the coins for their initial investment.

Much of the new tokens created could only be invested in through an exchange of Ethereum, which caused the asset’s price to skyrocket at the height of the crypto bubble by retail investors seeking to strike it rich by finding the next Bitcoin at its earliest investment stages.

However, the crypto hype bubble popped, and many of the projects built on Ethereum failed due to no fault of Ethereum’s. However, the negative sentiment surrounding other altcoins and these new ICO-born crypto tokens, caused Etheruem’s price to fall as well.

Ethereum started its life much under $1 and was only spare changed per ETH during the crowd sale. In just a year’s time, it reached an all-time high price of $1,448 driven largely due to the ICO boom, and was extremely profitable for early investors.

After regulators began to crack down on ICOs, calling them unregistered securities sales, Ethereum was used less and less for this purpose. However, this was due to the ICO boom ending and not due to Ethereum’s long-term price potential or projected growth.

Aside from ICOs keeping the price going down, ETH news has been otherwise extremely positive, and speculation suggests that Ethereum future is incredibly bright and will perform successfully as an investment asset, and has a solid long term value projection.

However, by far the biggest potential for Ethereum is the upcoming Ethereum 2.0 update and the massive growth of decentralized finance, also called DeFi.

To demonstrate the power of the DeFi movement and its impact on Ethereum, in just one year, the DeFi market accounted for just $317 worth of ETH locked up in decentralized financial products such as loans and more, this number increased to over $1 billion in 2020 and continues to climb.

This has dramatically increased the demand for Ethereum in recent months.

Ethereum Price Prediction | Will ETH Value Rise?

Ethereum is among the most interesting pieces of technology ever to exist and has garnered the support and interest from some of the best and brightest entrepreneurs of the tech and finance industries. Here’s just a sample of some of the industry experts who believe that Ethereum price will go up.

Alex Ohanian, Reddit co-founder is no strange to new technologies and breakthrough experiences. The tech entrepreneur is extremely bullish on Ethereum, and thinks that it’ll eventually reach prices of $1,500, he told Forbes in an interview about cryptocurrencies. Ohanian explains that while he is bullish on Bitcoin and all crypto, he is “most bullish about Ethereum simply because people are actually building on it. It’s still early days, but you know, we’ve got a few CryptoKitties.”

Steven Nerayoff, who is noted for being the “architect of the ICO” – the crypto-based crowdfunding for projects that helped Ethereum skyrocket in 2017, – sees Ethereum’s price reaching $3,000 in the future. He bases his reasoning on what he says “is [an] exponential increase in the number of projects – there are billions of dollars being poured into the ecosystem right now – maybe 10 times more projects this year than last year, which could easily lead to a doubling, probably a tripling in price by the end of the year.”

deVere Group is the world’s leading independent international financial consultancy agency offering investment advice to institutional investors at scale. The CEO of the company has given a future ETH price prediction of as much as $2,500. He says that the “price of Ethereum is predicted to increase significantly this year, and could hit $2,500 with a further increase by 2020.” He adds that “this general upswing will be fueled by three mains drivers. First, more and more platforms are using Ethereum as a means of trading. Second, the increased use of smart contracts by Ethereum. And third, the decentralization of cloud computing.”

The loftiest price prediction given by an expert is from Ark Capital LLC founder Brian Schuster, who had made an Ethereum price prediction of $100,000 per ETH coin in the future. Schuster believes that “Ethereum is less like one individual business and more like a store of value, like gold,” and says that this “gives us a potential market capitalization of roughly $10 trillion, leading us to believe that the price of Ethereum might rise as high as $100,000 per coin. We might even go one step further and say that Ethereum is not like one asset, but an asset to replace all currency that exists.” The statement is extremely bullish on Ethereum, and shows the long-term potential and value that Ethereum could reach in 2020, 2025, and beyond.

Ethereum Price Prediction | Will ETH Value Rise?

Unlike Bitcoin or Litecoin, Ethereum’s supply isn’t hard-capped and additional Ethereum can be created. There are currently over 107,715,579 Ether in circulation with a market price currently of $180, down over 80% from its previous all-time high. While no ETH price prediction expected the asset to fall this low, Ethereum projected growth will eventually take the asset far beyond the current lows to new highs in no time.

Throughout the bear market, the ETH price forecast wasn’t looking strong. However, that has since turned around and Ethereum will rise again soon – and has already been doing so since 2019 began.

Ethereum has only been in the market for a few years and lacks much price history, which is part of the reason that it was able to retrace to the current lows – bullish support as never built during its parabolic rise in 2017. But as Ethereum forecast improves again, and as its price increases, it will build support and the only questions remaining will be “will reach 10000 dollars,” and “will Ethereum rise like BItcoin?”

Long-term price predictions suggest that not only can Ethereum reach 10000 dollars, but it will also reach prices well above that in the future and break its previous all-time high.

While anyone can see that Ethereum as an investment holds much promise and will surely reward investors with all the support and potential ETH has, it’s not always clear exactly what prices that Ethereum may reach and when. Technical analysis from the industry’s best analysts has been gathered to help understand if some of the price predictions from experts match what the charts are saying.

Ethereum already has had an incredibly bullish 2020, rising as much as 100% since the start of the year. However, a retrace cut some of that early start down to size.

Still, Ethereum has broken out from a two-year downtrend and is poised to explode in value and usage over the next few years as decentralized finance enters the forefront of the fintech industry.

Since the start of 2019 and into 2020, Ethereum has been forming a massive ascending triangle pattern. These patterns break up with a high level of probability, and completion of the pattern would push Ethereum to revisit above $1,000 to as high as $1,178.

Ethereum Price Prediction | Will ETH Value Rise?

The asset may fail to set a new all-time high this year, however, the following years will be exceptional for Ethereum investors.

Given the rising support of the ascending structure, Ethereum has already set a low for 2020 below $150.

An alternative look at Ethereum comes from Seeker2020, who provides a great prediction for the year 2020, putting Ethereum at highs of both $275 and $350 in the shortest term.

Ethereum Price Prediction | Will ETH Value Rise?

Ethereum price has been trading within a massive channel, and after touching the bottom of it recently, it began its new bull trend and broke out for downtrend resistance.

The result was an immediate 100% rally, however, this is just the start of Ethereum’s recovery. If Ethereum can break through resistance at $350, the crypto asset will release built-up buy pressure in a powerful surge upward.

The last time Ethereum did this, it rose over 8,000%. A similar rally would take Ethereum to as high as $35,000 at the next peak if it occurs in 2021.

Ethereum Price Prediction | Will ETH Value Rise?

The peak occurring later in 2022 would allow the asset more room to grow and take it closer to $65,000. At that point, the lowest price Ethereum could reach would be the former top at $1,400.

An alternative analysis from GandoTrader has found an odd correlation between New Years and Ethereum, which points to an all-time high of $4,000 for the asset in 2021.

Ethereum Price Prediction | Will ETH Value Rise?

Looking further ahead, Ethereum has even more long-term potential.

The smart contract platform will eventually be its own intricate ecosystem powering web 3.0 interfaces and dApps, in addition to being the backbone of the DeFi industry.

Such potential would move Ethereum further along its growth corridor, potentially reaching prices of $100,000 in 2024 and over $1 million in 2025. 2023 would be a transition from a bear market into a bull market but will fail to set a new high.

Ethereum Price Prediction | Will ETH Value Rise?

Absolute lows will maintain well above the former $35,000 top, according to the ceiling and floor of the growth corridor.

There’s no denying that Ethereum is a very special technology that could completely change the world as more and more is built on top of the smart contract focused protocol. Due to this, experts and analysts are both expecting Ethereum projected growth to reach extreme highs, similar to what was seen during the ICO boom and crypto hype bubble that drove Ethereum prices from under a dollar to as much as $1,400 before falling back down to a low of $80. It is currently trading at about $180, representing an over 100% gain for investors in 2019 already.

Using the table below, you can get an easy top-down look at the minimum and maximum price forecast for Ethereum and use it to understand what is possible in terms of highs and lows.

Ethereum has brought past investors well over 1000% returns before it retraced. With the asset’s price rising and falling to such highs and lows, Ethereum is an especially great asset for traders who can take advantage of these price swings with a long or short position.

Traders can take advantage of such tools provided by trading platforms like PrimeXBT, and open positions with up to 100x leverage on either the ETH/USD pair, or the ETH/BTC pair.

PrimeXBT offers Ethereum alongside other popular cryptocurrencies Bitcoin, Litecoin, Ripple, and EOS, as well as traditional assets such as the most popular forex currencies, commodities, stock indices, and spot contracts for gold and silver.

With Ethereum showing so much promise, having the support from the entire crypto development industry, and is lauded by industry experts and technical analysts alike, it’s easy to understand why Ethereum can be a great investment given the expectations and predictions of not only its price but its potential as a technology.

Disclaimer: All price predictions are from cryptocurrency industry analysts, and other Ripple investors and traders, and not from PrimeXBT, and should not be considered investment advice. Investing in any asset class can be risky. Never invest more than you can afford to lose. Also be sure to choose the right trading platform – one with many advanced features, bank-grade security, and 100x leverage on crypto-assets such as PrimeXBT.

Source: primexbt.com


Vitalik Buterin's greatest regret over building Ethereum

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