For what is ETC even used for? I realize that ETH is all hyped up as a BTC killer but that's not gonna happen. And yes, Steem is highly undervalued since it's one of rare coins actually used for something besides pump/dump POLO adventure. Hope to see it rise much more than it is now by the end of this year.
Ethereum powers smart contracts and tokenized assets. There are many applications running today and many businesses building on top of Ethereum.
So the future of ETH is more tied with apps?
Apps are the entire point of ETH in the first place.
Yeah so ETH's future is Apps but also currency.... in a very unique way.
Well the value of ETH is really the POS and Gas in the network to run the apps. Yes it will be used as a speculative asset but more along the line of the incentive mechanism powering the Ethereum applications.
There are many "experiments" running today - all choked up on high gas prices and low transaction speed.
I would consider that inaccurate. 4Gwei gas is the norm now, even lower if you don't mind waiting 2 stinking minutes. I get confirmations in the next block with proper fees, a cent or two. Call them "experiments" all you want. What does ETC have running?
I'm not an advocate for ETC. The only real working decentralized application running on a block chain is steemit. It would not be possible to run this on ETH or ETC. Those chains have a long way to go technology wise to get on graphene's level. Speculation wise there is probably a pretty penny to be made in ethereum alts, but market cap doestot reflect intrinsic value. Steem does more daily tx volume than Bitcoin and ethereum combined and look at where it is. We have a huge bubble circa 1999 on the horizon, it will make us all rich, but unless ethereum solves the scaling problem it wont survive.
Well steem and ETH are very different blockchains with very different tradeoffs. Steem is absolutely not the only application running on a blockchain. Steem/graphene make serious tradeoffs to get the speed they deliver. There will always be tradeoffs for speed and security.
There are plenty of solutions to ETH scaling issues.
what security tradeoff are you talking about?
They have a small set of federated block producing nodes. This is much different than other consensus mechanisms and makes many tradeoffs on the security side to allow for fast transactions.
Look at the Mauve paper below for a better idea of what some of these tradeoffs are:
https://cdn.hackaday.io/files/10879465447136/Mauve%20Paper%20Vitalik.pdf
https://medium.com/@VitalikButerin/safety-under-dynamic-validator-sets-ef0c3bbdf9f6
https://medium.com/@VitalikButerin/minimal-slashing-conditions-20f0b500fc6c
What about bitcoins transaction speed and prices? WAY worse than Ethereum.
Bitcoin is the most valuable shitcoin on the market
Ethereum is not a ment to be a Bitcoin killer. Period.
It's not about what it's used for, it's about what it's not used for.