An analyst and a BTC YouTuber that goes by the name “BTC Jack Sparrow” has mentioned what he believes to be the becoming of the Ethereum Network.
The famous trader has gathered about 190,000 Twitter followers and is popular for revealing his price analysis to the crypto community recently and why he believes that the ETH network has flopped.
Can Ethereum be Tagged a Vaporware Network?
Mentioning the possibility of the network being vaporware – a term employed to describe projects that are up for advertisement but are not available for purchase either it is just a concept or just written or under development, – Sparrow voiced his opinion that in no distant time, the Ethereum network will be kicked out of the crypto space by BTC or other leading crypto projects.
In his post on Twitter, he juxtaposes the network to Yahoo, a web service provider, which fell off quickly after the developers introduced what the investors called “poor business choices” that led to Google ousting them from the spotlight and taking the stage. Mentioning that the Ethereum network can share the same fate, he said: “the chances that Ethereum is vaporware are very high. Either the second layer of BTC takes it out of the competition, or other protocols will take over the network because there are design mistakes made by the network when starting that is taking time for them to fix. Maybe Ethereum is the [recent] Yahoo.”
Regardless, the Adoption of Ethereum Across the Mainstream Rises
The sentiments from Sparrow are not new. For a while now, the crypto market has raised questions on the trajectory path of the network. Different critics have questioned the originality of the goal of the network repeatedly and how the different usage of the network could suppress the usefulness of the network.
Many have gone far as to criticize the real supply of ETH in circulation, which implies that there are market manipulations that are glueing the staggering network and the native currency to the top.
Meanwhile, ETH has been quite attractive to mainstream organizations. Of recent, the Falcon 9 SpaceX rocket of Elon Musk will be driving ETH nodes to the ISS this week.
An SEC official in China, Yao Qian, also mentioned that the digital currency from the central bank could be set up on the ETH Network, and in addition, Goldman Sachs gave an endorsement to the network after revealing the movement to the Proof-of-Stake.