Daily Bit #147: Happy 3-Year, Ethereum

Photo by Audrey Fretz on Unsplash

Word On The Street

Happy 3-Year, Ethereum

While a long 15 years away from legality, there’s no denying how much Ethereum has matured since the platform went live on July 30th, 2015. Ethereum opened up a new doorway for fundraising and inspired developers to tinker with new variations of smart contract frameworks, leading to the creation of the dozens of dApp platforms around today.

Just how far has ETH come? From a development perspective, three of Ethereum’s four proposed updates are almost fully in place. Each update polished Ethereum’s original format, allowing for a cleaner user experience, new gizmos, better security, and an easier route to scalability:

  • Frontier (July 2015)
  • Homestead (March 2016)
  • Metropolis (Byzantium [October 2017]; Constantinople [October 2018])
  • Serenity (TBA)

While less important, it’d be a disservice to gloss over ETH’s change in price. From an original ICO price of ~30 cents per ETH to a ~$460 today, the token earned early investors north of a 150,000% ROI.

Then vs. Now
A lot can change in 3 years. Glancing at the Ethereum network on Day 1 and comparing it to Day 1,096, it’s an entirely different animal:

  • Network Hash Rate: Then (11.53 GH/s) vs. Now (289,580 GH/s)
  • Block Difficulty: Then (0.121 TH) vs. Now (3,557 TH)
  • Unique Addresses: Then (9,205) vs. Now (39,779,732)

Ask The Builders
To weigh in on the significance of today, there are few better to ask for commentary than those who are actively building in the market:

Nick Cowan, Gibraltar Blockchain Exchange (GBX) CEO: “This meteoric rise of tokens as a new route to financing for companies has changed the world and I think we’re still only at the beginning. There is still so much more to come.”

Robert Rabasco, Orvium Co-Founder: “Today we celebrate Ethereum’s anniversary as the adoption of this technology becomes more widespread, backed up with more than 250,000 developers and 1,800 registered DApps. Perhaps more importantly, 94 out of the top 100 blockchain projects have launched on top of the Ethereum network.”

And looking to the future:

Henri Pihkalak, Streamr CEO: “No one knows how vital this achievement [blockchain scaling] will be more than Vitalik himself who said at the start of the year that 2018 would be the moment for scalability and various solutions like Plasma, proof-of-stake, and privacy to be rolled-out.”

Nicolas Gilot, Ultra Co-CEO: “This year, Ethereum will need to prove that it can scale and evolve to proof-of-stake. 2018 is also the year of competition for smart contract blockchains including the likes of EOS, Tezos, and Zilliqa.”

Ethereum, you’re growing up before our eyes *blows nose into tissue*. Here’s to the next 3 years.


What Else You Should Read Today

General

  • No, we’re not pivoting to ‘Crypto TMZ’, but it’s worth noting that Kim Kardashian mentioned Bitcoin in an Instagram story shared with her nearly 115 million followers.
  • Vitalik Buterin chimed in on recent ETF banter, questioning if more emphasis should be placed “on making it easier for people to buy $5 to $100 in cryptocurrency” since it’s more helpful in promoting digital currency adoption.

Markets

  • Binance’s investment arm (Binance Labs) made an investment in Libra Credit, “a decentralized digital asset financial services platform” that will allow Binance Coin (BNB) holders to use BNB tokens as collateral for crypto or fiat loans.
  • Telegrass, an Israeli cannabis marketplace that boasts over 100,000 members, will offer discounts to merchants who pay for select services with digital gold.
  • J One Capital, the IB branch of investment firm JD Capital, partneredwith Alphacat to receive digital asset custodial services. In return, JOC will help structure a roadmap for Alphacat’s digital asset investment strategy.
  • TransferGo, a digital remittance platform with over 650,000 users and operational in 47 countries, launched a trading service for the exchange of Bitcoin, Ethereum, XRP, Litecoin, and Bitcoin Cash.

Medium

Mining

  • Canadian mining firm DMG Blockchain Solutions Inc. is expecting their Mining-as-a-Service (Maas) business to skyrocket following the opening of their 85-megawatt substation in September 2018, increasing their current hosting capabilities by more than 20x.
  • Investors from Ho Chi Minh City are dealing with the fallout of potentially another exit scam after Sky Mining’s CEO vanished with an expected $35 million in investment and at least 600 mining rigs.
  • NY private equity firm Brookstone Partners is raising capital for the development of a 900-megawatt wind farm in southern Morocco. The farm would power a data center and mine digital currencies, providing a more environmentally friendly means of securing blockchain networks.
  • Google has a message for crypto mining apps: You’re Fired. The tech giant’s updated policy bars all direct mining apps from entry in the Play Store.

That’s all for today!

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