Bitcoin Global News (BGN)
March 05, 2019 -- ADVFN Crypto NewsWire -- Ethereum is consistently
near the top of the list for cryptocurrencies by market cap. Most
often Ethereum sits below Bitcoin at the number two spot, sometimes
being overtaken by Ripple. Both trend at roughly 25% of Bitcoin’s
market cap value, but there is a major gap between any other
cryptocurrencies from the 4th spot down. The next closest
cryptocurrencies are hardly 20% of Ethereum’s market cap. This has
given Ethereum a great deal of attention over the years due to the
fact that many people are first introduced to blockchain technology
through the coins as an investment.
However, Ethereum was founded on a
much different basis. The network piggybacked off of the founding
principles and technology if Bitcoin, but added a much richer
featureset. Ethereum stands as a kind of gateway to understanding
the incredible potential of the technology overall. Co-founder
Vitalik Buterin, only in his 20s, has become a celebrity within the
industry. He stands out in support of the deeper implications of
peer-to-peer networks and cryptocurrencies:
“Whereas most technologies tend to
automate workers on the periphery doing menial tasks, blockchains
automate away the center. Instead of putting the taxi driver out of
a job, blockchain puts Uber out of a job and lets the taxi drivers
work with the customer directly.” - Vitalik Buterin
Ethereum Foundation
Growth
The Ethereum Foundation is a
non-profit that was founded by a group of early Ethereum developers
to establish a method to gain funding and allocate the resources
for continuing development of the Ethereum network in a fair and
organized way.
“When the Ethereum Foundation was
founded, the Ethereum Foundation was ethereum. People in the
Foundation were the ones that were building ethereum. Now, that’s
not the case.” - Aya Miyaguchi, executive director of the Ethereum
Foundation
Aya Miyaguchi assumed the role as
executive director of the Ethereum Foundation in early 2018,
following the massive surge in market cap value for all
cryptocurrencies. In that time, interest in the technology and
emerging startup blockchain companies exploded. When Ethereum was
founded, it was truly forging a new path. Now, there are a myriad
of similar networks working to accomplish similar goals using
slightly different techniques.
“I believe the role of the Ethereum
Foundation also needs to shift … What are things that only the
Ethereum Foundation can do?... I believe the Ethereum Foundation
has established this trust relationship in the world where we do
have the brand. People trust us to be neutral or honest about
information so we just want to deliver the true information.” - Aya
Miyaguchi
By: BGN Editorial Staff
