… And Bitcoin is something like the telegraph.
I concede, that’s a little extreme, but let’s run with the telecommunications analogy for a while.
Fiat money is most like a telegraph, kinda inconvenient and too clunky for the modern digital world. Bitcoin is more like a landline phone, which is to say… it is faster than a telegraph. If its community could just sort out its issues and work on their tech, then they might even get to (basic) cell phone status. In the meantime, Ethereum is most certainly a smart phone.
Remember that company that developed the first smartphone… starts with App… ah, I cant’ recall. Well, anyway, if you can remember their story, I think that one of their major innovations was allowing applications to run on their phone. The rest of the world was just talking and texting happily. Then, suddenly, talking and texting weren’t the only features that people expected from a phone; they began expecting more. The company created possibilities that never existed before, because they introduced a new platform for people to develop on.
Ethereum is a platform for people to develop on. When apps start rolling out on the Ethereum platform and people start seeing what else is possible, then they are going to realize just how limited they are by the Bitcoin and fiat currency technologies AND by current, centralized, internet technologies.
Hmm, do you remember, didn’t that smartphone-pioneering company go on to be pretty profitable? That would make sense, because platforms empower people, and the platform itself increases in value the more people develop with it and the more popular it becomes.
Oh, and who even has a landline anymore… much less a telegraph.
Just a fun analogy to get you thinking.
TL;DR: Ethereum is possibly “Apple” of the crypto space. Ethereum is striving to be the next world-changing platform. Do with it what you will.
I’m passionate about blockchains. I’m excited about decentralization, autonomous organizations, cryptocurrencies, and uncensorable dApps.
I’m also overwhelmed – with questions about these cutting edge technologies. I want to understand the tech, the politics, and the implications of the blockchain revolution.
Most of all, I want to share what I discover – because broader understanding will lead to greater participation, more rapid adoption, and, subsequently, a better world.