Ethereum is rapidly becoming a DeFi network, and DeFi feels quite similar to traditional finance in important ways. What does this mean for the network, the community, and the future of Ethereum?
A recent explosion of DeFi applications has caused gas prices to soar and made Ethereum all but unusable for anything else. As a result, the network feels more and more like a casino. Remember: at a casino, the house always wins.The Rise of DeFi
I remember clearly when, a year or two ago, the Ethereum community collectively made fun of the fact that most applications built on the nascent Eos and Tron platforms were gambling applications. By contrast, we took great pride in the “real” things being built on Ethereum, from DAOs to stable coins to satellites, asteroid mining, and space exploration. There was an understandable tendency not to take the other platforms seriously because they lacked serious, mature use cases...This is a companion discussion topic for the original entry at https://www.etherean.org/blockchain/defi/ethereum/2020/10/04/ethereum-is-a-casino.html