“Ethereum is blooming and we are doubling down on it,” Says Gnosis Founder
Martin Köppelmann, founder of Ethereum predictions platform Gnosis and supporter for Unconditional Basic Income on blockchain, posted a blog post this morning announcing doubled-down support for the Ethereum blockchain. Köppelmann confidently states that Ethereum’s rapid price drop from over $1,300 down to under $300 is nothing to be concerned about, and that the Gnosis project will continue to run alongside Ethereum for the next 5-7 years regardless of market downturns.
“Being active in the space since Bitcoin $9 [sic] this is nothing new and we prepared for this event,” writes Köppelmann. “We have a team of over 50 people now working full time on the Gnosis platform and we can continue to finance this for the next 5–7 years without the need to sell any of our ~200k ETH in reserve.”
Köppelmann maintains that it’s not the price of Ethereum that is important, rather it’s the quality of usage for Ethereum’s decentralized applications (Dapps). He believes that the growing ability for Dapps to seamlessly interact and draw benefits from each other on the Ethereum platform will ultimately drive up use-case demand in a reliable, open and interlinked environment. As this demand increases, so will the price of the world’s second largest cryptocurrency.
The best metric of success for #Ethereum is not how many DAPPs are deployed or how many transactions those DAPPs have. It is about how many DAPPs are created and used that use smart contracts from OTHER DAPPs. #networkeffects
— Martin Köppelmann (@koeppelmann) July 24, 2018
“We have chosen to make Ethereum the primary environment for the platform we are building ourselves,” announced Köppelmann. “Thus, it is in our best interest to make this environment flourish. Or as Jarrad from Status put it: ‘A rising tide lifts all boats’.”
Suggested Reading: Learn more about Ethereum in our Ethereum beginner’s guide.
Gnosis Announces “web3/Ethereum First Strategy”
Köppelmann revealed that Gnosis will be implementing a consequent “web3/Ethereum first strategy” in an effort to provide viable decentralized alternatives to users. The plan details are as follows:
- “We will use some ETH in reserve for CDPs on Maker
- We will give control as soon as possible to DAOs
- We will do all tweets first on Peepeth
- We will post our blog posts first on Akasha once it is on Mainnet
- We will create bounties on the many ETH bounty sites
- We will use prediction markets to see if we are on track of our milestones
- We will encourage all Gnoseers to try and use DAPPs and products from the ecosystem”
— JARRAÐ HOPΞ 侯家睿 (@jarradhope) August 2, 2018
Köppelmann is rapidly gaining public support following his announcement. He is assuring that he and his team will be spending even more time making it as easy as possible for users to contribute to the developing ecosystem. He concludes his Medium post by reaffirming his commitment to enable users to safely interact with Dapps, even without holding Ether, and his promise that his DutchX project will deliver the world’s first fully decentralized cryptocurrency exchange.
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