this post was submitted on 11 Mar 2025
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What is an "Ethereum"? Some sort of subscription?
It's a pretty old cryptocoin: initally released back in 2015, and a significant change deployed in 2022. It was then when they changed from proof-of-work to proof-of-stake, which basically means that they don't use mining anymore to keep the network running. They use like 1% of energy compared to PoW coins.
Also they have some smart contract capabilities which I suppose Ethereum people think are important. But I've never seen any practical use for that stuff.
Still, I think Eth is one of the cryptos that actually tries to be useful and efficient in some way and not just a stupid pump and dump scheme. Turns out, nobody gives a fuck about that, perhaps?
Anything you need complicated multi-party interactions for that you want guarantees on. Real estate escrow comes to mind first. Depository accounts with yield. An immutable archive of records. Multi-signature corporate treasuries. Whatever. It's programmable money. It's not even necessarily monetary, because smart contracts can just deal with arbitrary data.
Never impressive to see a technical audience shit all over Ethereum for internet points. By far the least scammy crypto people have actually dedicated years into building something real on.
Would be great if they got some of that out there.
I reckon most of that already is. A real estate escrow smart contract is maybe 200-300 lines long in Solidity, depending of course on what it supports (contingencies and such). You may want to actually go look around, because there's I don't know how many millions of lines of Solidity already written. It doesn't all get as much publicity as NFTs.
Respectfully, I think it’s just you. Ethereum smart contracts are universally publicized and utilized in the crypto community, and it’s why people were/are interested in the project. Many other coins are built on top of this technology. It’s pretty foundational. If you look into crypto any deeper than just buying and selling it, then the topic should have come up pretty much immediately.
Haha yeah I made this comment mostly to see if I could meme some anger out of someone. Got some nice explanations though.
oh whoops
Not like it was obvious lol
It's only worth $80,000 per token. Nobody gives a fuck! smh.