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In a recent interview with Coin Rivet, Charles Hoskinson challenged the argument of Craig Wright that Ethereum (ETH) is a security. According to him, bitcoin maximalism is a misconception. In particular, he came in defense of Ethereum (ETH) even if he is no longer a member of the Ethereum team. To quote it,
"It makes no sense to declare Ethereum as a security at this stage." If the SEC were to make this decision, companies would continue to use Ethereum around the world and damage many retail investors, I have a poor view of ICOs, but Ethereum is a world apart from EOS or any of these other encrypted ones … There were a lot of really bad actors in the ICO space, but Ethereum definitely was not one of them. "
This is a sign that cryptographic space is becoming more mature. The struggle between the cryptic communities is actually counterproductive and does not favor this space. This is because the cryptocurrency space is still young. Large-scale adoption is still far away, and clear and universal rules that regulate blockchain technology have not yet emerged. In essence, fighting between the encrypted communities would only give way to unfavorable regulations that could negatively affect the entire space. For example, the fact that Craig Wright failed to call Ethereum a security is that, if it were to happen, the implications would be catastrophic not only for Ethereum, but for the encrypted market as a whole.
The chain effect of such a move would take the money away from the crypt forever. Cryptographic space is already volatile and many investors are sitting on the sidelines, waiting for some semblance of stability. Therefore, anything that adds to the volatility the magnitude of an ethereal apocalypse would be a beating. Basically, the projects must work together to support the cryptographic ecosystem. This is the only way to survive and face external challenges and also attract more adoption. Charles takes it, which is why he supports Ethereum (ETH) even if he is a competitor of Cardano (ADA).
Also, working together, blockchain technology will gain in adoption more quickly. This is because, no matter how good a blockchain is, no one can satisfy all market needs on its own. That's why interoperability is emerging as one of the most important aspects of blockchain technology. Even Jed talked about this when he explains why he's working on Starlight, a payment channel that also introduces interoperability with other blockchains.
All this indicates the increasing levels of growth and maturity in cryptographic space. It is a reason to be optimistic about blockchain technology and cryptocurrencies. Over time, this space will work even more together and the impact of blockchain technology on society will become clear. This is the overall goal, one that is much bigger than the coin competition, and the pressure to beat the next price coin in the short term.
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