According to Anthony Di Iorio, founder of Ethereum, Decentral and Jaxx Liberty, there will be a lot of noise surrounding Ethereum’s upcoming Merge, which many people are trying to capitalize on. Di Iorio explains why the world needs the leading altcoin Ethereum.
“The world needs this altcoin project”
As you follow on Kriptokoin.com, Ethereum Merge will transform the network from PoW to PoS. Merge is considered a major event for crypto and even the internet. And there are only a few weeks until the flagship altcoin project upgrades. Anthony Di Iorio says that as the date approaches, many will try to use the moment to their advantage. He also notes that this is a risk in itself. In this context, Di Iorio makes the following statement:
Merge will be an interesting journey. Many people are trying to take advantage of the situation. There will be a lot of noise surrounding it. There will be people coming out of woodwork to take advantage of it. There are problems with PoW. It took a long time to get here and now it’s ready to happen.
Di Iorio got involved in Ethereum when Ethereum’s other co-founder, Vitalik Buterin, showed him the whitepaper at the end of 2013. Di Iorio first met Vitalik at the first Bitcoin meetup in Toronto in 2012. For this, Di Iorio says:
Initially, at the end of 2013, Vitalik showed me the whitepaper. What Bitcoin could do was limited. We needed something more generalized that could do more complex functions that Bitcoin couldn’t. He realized early on that he was going to be big and what was needed. So I took initiatives and set up organizations in Toronto to build the team.
“I had to borrow money from my father”
Di Iorio initially funded Ethereum with his own crypto wealth. However, it has seen this evaporate quickly after several price crashes over the years. In this regard, Di Iorio makes the following assessment:
I’ve been through several of these crypto cycles. The first one for me was in 2014 at Mt. He’s back with Gox. I got into Bitcoin in 2012 at around $10 per Bitcoin. The first run happened quickly. Prices rose to $1,200 in 2013 and then dropped to $100. In the first few months of getting into Bitcoin, I became a millionaire. Then it crashed again. Back then we launched Ethereum.
Di Iorio said, “I had to borrow money from my father. “Financing this first project, trying to get off the ground, and bypassing regulatory hurdles until the product sale in 2014 that raised $18 million from people around the world was tough,” he says.
Biggest mistake with web3
Crypto, the term used to describe the third generation of evolution of web technologies built on blockchain, and the most common challenge for Web3 is avoiding the mistakes of Web2. Di Iorio notes that this is the centralization aspect, with only a few presented at the top. In this regard, he comments:
Incomplete business models lead to death. People didn’t think about how to create sustainability in companies from the very beginning. Instead, they serve investors every month. Users feel it and users become the product itself. We need to think of better models that ensure the longevity of industries. Advertising is a terrible model.
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