With all of the focus on The DAO debacle all day, new debates are popping up regarding the so-called competition between Ethereum and Bitcoin. Reddit is littered with posts about snarky comments between both communities. In the end, cryptocurrency is about collaboration, rather than competition. Plus, Bitcoin and Ethereum couldn’t be more different. From one another, even if they tried.
DAO Debacle is No Reason To Gloat
There is little love lost between the Bitcoin and Ethereum communities in certain regards. That is rather strange, considering both cryptocurrencies are nothing alike and not in direct competition either. But for some reason, there is a lot of bickering and snarking going on. Not entirely unexpected, as this is the Internet after all.
When news broke about The DAO being under attack, it did not take long for some Redditors to point out the obvious. Some interesting titles have come up, explaining how experiments are “run on alt chains, rather than Bitcoin.” But that does not mean Bitcoin is 100% secure either, as there is no perfect system.
Various companies are looking to bring smart contract technology to the Bitcoin blockchain. This is the same type of technology used by Ethereum and The DAO. Unfortunately, this technology did not prove to be infallible earlier today, as a portion of The DAO’s Ethereum funds was stolen through an exploit.
While companies such as Rootstock are thoroughly testing their technology before releasing it to the general Bitcoin community, it is impossible to guarantee there are no flaws. Technology is not perfect, and all of these features are still coded by humans, who are not infallible either. Great technology often runs into some issues at some point, yet that is no reason to laugh at the misery of others.
Whenever issues like these arise, there is a dire need for collaboration. No one would object to Bitcoin developers reaching out to the Ethereum and DAO teams to help with this issue. Instead, we see hostile behavior from communities. Cryptocurrency is a global effort, where Bitcoin and Ethereum-based projects are not competing. Collaboration will help make this ecosystem bigger and better.
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