Does Counterparty compete with Ethereum?
What is my stance on the nature of Ethereum's competition, and counterparty's? Are they partners, or are they enemies!? In this video, shot next to the American ...
What's up, party people? Chris DeRose here, Community Director of the Counterparty Foundation. Today's question is, "Does Counterparty compete with Ethereum? So this was asked to me on Reddit, and I apologize to the user that asked. I don't have your name, but I will answer the question nonetheless. I'll give you credits at the bottom. So I don't know that competition is ever really like a thing that happens amongst open source platforms per se, and certainly Counterparty is that. I personally kind of see us as just working with the community.
That is fairly typical of what you see in open source platforms. Ethereum, I kind of consider a company. And companies certainly compete with other companies. So certainly, at some level, Ethereum competes with perhaps like, BitShare's, I would say, would be a thing that it competes with. With Counterparty, at the very start, have borrowed, for lack of a better word, a lot of their source code. Particularly, in the small contract execution environment.
It's a very common thing to do in open source platforms. That is a big tenant of the open source movement. So in many, many ways, we are a partner with Ethereum. We have them to thank for a lot of the stuff that was really positioning us well in the Bitcoin space. When we talk about, I think, too what it is to be a competitor as an open source platform or a company. What the bigger differentiation might be is what chain you use.
I do think that chains do compete. That might even be part and parcel with how block chains work. Block chains are designed, in some sense, to fork. And when they do fork, those forks compete for truth until one of them wins out and the other one has died. Now, in the case of Ethereum, they're not actually using the Bitcoin blockchain. However, they are using a blockchain.
And, in some senses, I do think that starting a new blockchain is, itself, comparable to a fork, if you will, within a single blockchain. And, in that [inaudible 00:01:51], I think what we would perhaps see is that Bitcoin competes with Ethereum. Certainly, I think Vitalik sees it that way. I think, Vitalik's talked about this even. He envisions a future where, if Ethereum works, it's at consequence to Bitcoin. And even so much so that he thinks Bitcoin doesn't work.
I don't know if that message has changed or not, but he's certainly said that before. So, I think, that maybe it could be said that Bitcoin competes with Ethereum. Certainly, there's a lot of that notion in there. But we will see over time. Those are, I think, the central themes here of that question. I appreciate the question.
I forgot who you are, but we'll give you credit here, in a bit, at the bottom. But thanks again. Anybody has something to add on this issue. you think I'm leaving out part of the story, you want to add to it, you want to refine the Ethereum position more, I'd love to see the comments. So feel free to comment below, or if you want to reach out to me on Twitter, my handle is @derosetech. And you can always send me an email, chris@chrisderose.
com. If you like this question, you want to see some others answered, subscribe to the channel. And thanks for listening. Later, party people.