When it comes to cryptocurrencies, Ethereum is second only to Bitcoin in terms of popularity and market capitalization. It’s no surprise then that Ethereum is often the Target of criticism and FUD from those who seek to undermine its legitimacy as a cryptocurrency. Can Ethereum be killed?
Ethereum’s primary use case is as a platform for decentralized applications (dApps). These are applications that run on the Ethereum blockchain and are not controlled by any central authority.
This decentralization is one of the key selling points of Ethereum and is also one of the main reasons why it is so often attacked.
Critics argue that because dApps are decentralized, they are inherently insecure and prone to hacking. This argument is not without merit, as there have been a number of high-profile hacks on Ethereum dApps in recent years.
However, it should be noted that these hacks have been primarily due to vulnerabilities in the dApps themselves, and not in the Ethereum blockchain itself.
In fact, the Ethereum blockchain has proven to be remarkably resilient in the face of attacks. In 2016, an attacker tried to exploit a flaw in the DAO smart contract to siphon off millions of dollars worth of Ether.
The community quickly responded by hard forking the Ethereum blockchain to refund those who had lost funds in the attack.
More recently, in 2018, there was a 51% attack on the Ethereum Classic blockchain. However, even in this case, the attacker was not able to make any changes to the Ethereum blockchain itself.
It’s clear then that, despite its critics’ claims, Ethereum is not an inherently insecure platform. In fact, its decentralized nature is one of its greatest strengths.
The truth is that no single entity can “kill” Ethereum. The only way it could be killed is if the entire community were to lose interest in it overnight, which seems highly unlikely given its current popularity and momentum.