The Devcon3 developer conference is set to start next Wednesday in Cancun, Mexico, and Ethereum is up to make a great impression. What was once the biggest promise in the cryptocurrency market is now a project that does well, but one that still hasn’t quite reached investors’ expectations.
Despite the meteoric growth that has seen the protocol rise to $29 billion in value, we can certainly say that Ethereum is not the main force that we all expected it to be. Since its launch back in 2014, it seemed destined to become the first to tackle Bitcoin in market value. But Ethereum failed, despite a big run in June, so the so-called “flippening” seems more like a faraway dream.
But will Ethereum rise for the second time?
“I think they are hitting on all cylinders. It’s a real platform with several pieces on top,” said investor and author William Mougayar, according to CoinDesk. He strengthens some opinions that claim Ethereum’s struggle is only at a surface level.
Attendees that will travel to Cancun next week hope to see a strong showing of technical talks and project updates that certify the protocol’s progress. ConsenSys head of global business development Andrew Keys voiced these expectations very clearly. He said that it’s time for the world to notice the pace of development that is ongoing in the ethereum technical community.
Keys may have stated what he wants to see, yet developer Hudson Jameson, employed by the non-profit Ethereum Foundation, declared that the event is not meant to be an “ICO-fest,” but rather more as a forum for technical discussion.
The Cryptocurrency still has a lot of things to fix
And while Ethereum’s recent upgrade Byzantium came with some improvements to the blockchain, it hasn’t resolved all the problems, giving birth to rumors that say the Devcon3 conference will most likely show the platform’s current limitations.
Long-promised shifts, such as the migration to a more eco-friendly and egalitarian mining protocol, and top-level applications that make the technology easier to use, are among the targets that Ethereum still has to fix.