Genius or Idiocy!
Find the genius crypto antidotes in the iEthereum whitepaper.
Knive Spiel
May 01, 2023
Genius: Exceptional intellect or creative power or other natural ability.
In the previous article, I propositioned you to find the genius crypto antidotes in the iEthereum whitepaper. Did you spot the brilliance?
Hindsight is always 20/20. The iEthereum whitepaper was first published in early 2018 and can be read here. Five years later, we shall examine the simple written intelligence and clever works.
“It is foreseeable more than 60% of these 1300 cryptocurrencies would not be used in the future world and at the same time, the number of cryptocurrencies will grow massively in the next ten years.”
Without focusing on “60% specifically, the point is, now in 2023, most and many of the cryptos that existed at time of the original iEthereum whitepaper publishing; no longer exist. AND yet we see more and more cryptos coming online. Was this a factual statement made 5 years in advance by the iEthereum whitepaper?
Furthermore, iEthereum's ambition in 2018 is a perfect example of the cart being ahead of the horse. In 2018, Ethereum was the newest bad ass smart contract hombre on the block. Everyone wanted to build on Ethereum and build they did. But in my opinion, many projects, even successful ones today began building “Ethereum Killers” and advanced complicated functioning platforms. Every new token wanted to do everything. A lot of this development came at the expense of centralization and control. This has lead to a difficulty in mainstream adoption due to many physical and physiological complications. iEthereum was created to be simple, and to treat Ethereum as a foundation. No need to build over, build another, or to duplicate. iEthereum is an open source smart contract that was created to be implemented easily, by and for the user community.
Why make things more difficult?
iEthereum is ahead of its time. Polygon (Matic) a proper layer1 leveraging Ethereum has nearly 500 lines of code. iEthereum has less than 155 lines of original code. I don't read nor write code. But I understand, the iEthereum token will perform faster, safer, and more efficiently.
According to the iEthereum whitepaper, “the key point to understand is that a token system is just a database with one operation: substract x units from A and give X units to B with the proviso that A had at least X units before the transaction and the transaction is approved by A.” All that it takes to implement a token system is to implement this logic into a smart contract. The less complicated with less nooks, crannies, folds, layers will be the future.
iEthereum foretold this by developing a simple easy to use human standard token. iEthereum is a non complex peer to peer, B2B value transfer technology that is an accessible, friction free value network supporting private and secure exchange between peers, small and medium businesses alike.
We see value!