WATCH: Ethereum Enters a ‘Crossroads’ at the Ethereal Summit

WATCH: Ethereum Enters a ‘Crossroads’ at the Ethereal Summit 1

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On location in Tel Aviv at the Ethereal Summit, hosted September 15, CoinDesk’s Daniel Kuhn spoke with some of the major players in the ethereum space about where the second largest blockchain is heading.

Billed as “the world’s computer,” ethereum has not lived up to its initial marketing campaign. ConsenSys and a crowd of developers are working at a solution, dubbed ethereum 2.0, to fix the blockchain’s scalability problems.

Leading up to this reboot, the Ethereal Summit served as a progress marker. The community was enthusiastic for what lays ahead.

“It’s it’s still a bit early but I think we’re coming towards a crossroads where we can start to see the maturation of the technology, especially as more enterprises come into the fold,” said Chrissa McFarlane, CEO of Patientory.

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It’s not just enterprise adoption that had community members excited, but also the number of developers working on building actual use-cases on the decentralized network. Eyal Shani, a blockchain researcher with Aykesubir, said that ethereum is the “largest blockchain in terms of developers,” having recently surpassed Bitcoin.

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Lex Sokolin is one such developer. He joined ConsenSys as co-head of financial technology months prior. Sokolin was specifically attracted to ethereum’s potential to revolutionize banking services.

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The point was also echoed by Itzik Yushuvaev, salesman for AlgoZ Liquidity Solution, who sees the amount of developer activity on the blockchain as “a sign of trust in the second system and in the token.”

But it’s not disruption of global finance all the way down.

Marguerite deCourcelle, CEO Neon District, built her yet-to-be-released cyberpunk role-playing adventure on a sidechain off of ethereum, because it offers gamers the ability to accrue actual value through non-fungible tokens while playing.

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CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin29,092 0.34 % 0.80 % 0.56 %
Ethereum1,788.5 0.06 % 1.45 % 8.93 %
Tether1.001 0.01 % 0.04 % 0.05 %
USD Coin0.9989 0.16 % 0.08 % 0.04 %
BNB305.22 0.36 % 0.77 % 0.76 %
XRP0.3865 0.27 % 2.38 % 6.08 %
Binance USD1.002 0.20 % 0.30 % 0.03 %
Cardano0.9566 0.22 % 0.68 % 6.96 %
Solana42.22 0.46 % 2.53 % 14.84 %
Dogecoin0.08197 0.11 % 2.82 % 3.01 %

Bitcoin (BTC) $ 29,113.00
Ethereum (ETH) $ 1,790.87
Tether (USDT) $ 1.00
USD Coin (USDC) $ 1.00
BNB (BNB) $ 305.25
XRP (XRP) $ 0.386785
Binance USD (BUSD) $ 1.00
Cardano (ADA) $ 0.462937
Solana (SOL) $ 42.17
Dogecoin (DOGE) $ 0.082088