GuShiio.com The current challenges facing Ethereum are actually similar problems that all large companies encounter: overall innovation is blocked, and management (the Ethereum Foundation) is “relying on its seniority” and inefficient.
The hottest topics in the market in the past week seem to be related to Ethereum. One is that God V shared Ethereum’s current difficulties, problems and some solutions in the community AMA, which caused a lot of discussion; the other is the sudden theft of more than 500,000 Ethereum in Bybit over the weekend. These two incidents have completely different impacts, but both have made Ethereum the focus.
In the past two years, the industry’s evaluation of Ethereum’s performance has often been a very sarcastic statement,”If you buy Ethereum, you should have paid off all the debts you owed in your previous life.” This is to satirize the price of Ethereum. After all, the current industry The current situation is that the price itself will greatly reflect its development, such as Solana next door.
So, back to reality, what challenges has Ethereum encountered that have shaken both the overall market value and community reputation?
After discussing with several core community members who have long been following Ethereum, they gave a lot of seemingly good feedback, including that the Ethereum Foundation has always been in a state of “existence in name only” and often does nothing except selling ETH; or because the explosion of Layer2 has weakened the value of Ethereum itself; and the new narratives that are popular in the market have basically not exploded on Ethereum.
The descriptions of these issues seem to be exactly what they want, but the author thinks that this may be just a superficial presentation, and the essence is not here.
On the topic of studying why large companies fail, there is a best-selling book called “Innovators ‘Dilemma”, which is also known as the 20 most influential business books of the 20th century. The conclusion in the book is that excellent large companies fail because small companies carry out disruptive innovations, thus occupying the market of large companies. Most of the innovations made by large companies are “continuous innovations” and cannot prevent small companies from “destroying” the market of large companies.
This is the real challenge facing Ethereum today.
Looking back at the birth of the Ethereum Independent Network, it has been almost 10 years. 10 years is not young for a company, especially in the fast-growing Web3 industry.
But if the development of Ethereum in the past 10 years is not the result of corporate development, it may be a different look. After all, in the blockchain field, there is only one project that truly realizes “de-corporate”-Bitcoin, and nothing else.
Therefore, the current challenges facing Ethereum are actually similar problems that all large companies encounter: overall innovation is blocked, and management (the Ethereum Foundation) is “relying on its elders” and inefficient.
Therefore, in the interview, God V mentioned that the core solution for Ethereum to get out of its current predicament is the need for a new story, and this new story is actually innovation. In addition, he also mentioned that “the Ethereum Foundation has started many internal reforms in recent months,” which are aimed at organizational efficiency issues.
Although God V denies that Ethereum is a company, when organizational problems are exposed, changes can only be carried out by managing the company.
As a result, another challenge about the future development of Ethereum emerged: Is God V ready to become a manager?
Although God V was the first to stand up and express his position in the face of many challenges, what is before him now is the transformation of a large enterprise. After several years of barbaric growth, God V also needs to transform from a technology master to an “entrepreneur” who is not like an entrepreneur, and even rethink or balance “decentralization”. Is he ready?
After reading through all the interview content, the author was very curious whether God V would face a huge psychological struggle for transformation. After all, it was not just Ethereum itself that needed to be reshaped, but also the soul character himself, or he had made up his mind more than a month ago. I don’t know and don’t understand. After all, the “Dragon Slaying Boy” is no longer young, and will always change after experiencing the collision of the world.
Finally, if visitors want to ask me whether Ethereum can overcome the challenges and their views on its future development, they may use one sentence to sum it up more down-to-earth: ETH still has a market value of US$330 billion and is still the second largest Crypto project.
