The COO of MyEtherWallet, Brian Norton, seems to be supporting a stronger leadership on the Ethereum (ETH) project. He said that having stronger leaders guiding developers and the community does not sacrifice the principle of decentralization.
Should Ethereum Have Stronger Leaders?
Ethereum is the second largest cryptocurrency network in the market after Bitcoin (BTC). The community has been criticized several times for having a small number of individuals taking the most important decisions. Thus, it has been accused of being more centralized than other blockchain networks and cryptocurrencies.
In a recent report released by SpanChain CEO, Ameen Soleimani, Ethereum could be left behind if other faster and blockchain networks started to grow. In order for Ethereum to not experience this situation, it should implement a scaling solution as soon as possible. In order to do so, Sameini recommended Ethereum to have stronger leadership.
There are other networks such as Tron (TRX), an Ethereum competitor, and that has a clear leader, Justin Sun, that helps the network grow at impressive rates. The Tron network has currently reached the top 10 and could continue to grow in the future.
In a recent conversation with Decrypt, the Ethereum developer Ben Edington explained that having a small leadership team makes Ethereum become similar to other centralized projects. Indeed, on social networks, there are several individuals that criticize Ethereum for being a centralized project.
Meanwhile, the COO at MyEtherWallet, one of the most popular Ethereum wallets, explained that Ehtereum needs leaders to remain competitive.
According to Decrypt, Brian Norton explained:
“There’s a difference between appointing leaders and accepting the leadership of others. The idea of taking the lead on a particular direction on the future of the network is not necessarily becoming its tzar, it’s simply taking responsibility and garnering support for achieving certain benchmarks.”
Moreover, Norton backed the claims made by the Ethereum developer Danny Ryan, that mentioned that several individual teams that work on Ethereum 2.0 could be considered leaders in the space.
Funding is also an important issue that the community needs to address. The Ethereum Foundation is in charge of providing funds to different projects in the ecosystem. However, it is sometimes difficult to receive these funds. With the correct funding and an efficient way of providing support to different projects, the network could remain sustainable.
Norton explained that a network needs a large community of developers working on top of the blockchain. Thus, if the community starts lagging around on this matter, it might be possible to be surpassed by other alternative projects in the future.
What About Other Blockchain Networks?
Justin Sun has been offering grants and dApp funding to projects that are built on top of the Tron network. He has also been competing against Ethereum in different issues such as the number of individuals using dApps or the number of transactions processed by decentralized applications.
Norton added that Tron and EOS are wake-up calls for the community. Furthermore, he said that developers may not be committed to decentralization and could just be searching for a blockchain to build on. Thus, it is important to give a value proposition such as a scalable network for them to select Ethereum before other projects.
Currently, Ethereum is the second largest cryptocurrency in the market. It has a market capitalization of $14.6 billion and each ETH coin can be purchased for $139. EOS is in the fourth position while Tron is being traded in ninth place. They have a market capitalization of $3.25 billion and $1.61 billion, respectively.