$1,743.69
24h
-9.87%
9 Nov, 14:21
ETH as permissionless decentralized value store
Bullish-17.89%
AI Summary
The author presents a bullish thesis on Ethereum, emphasizing its permissionless architecture as the foundation for its role as a decentralized value store, rather than focusing solely on gas-burning efficiency.
From within Ethereum's own ecosystem loop, burning gas is the method for maintaining the value cycle of the ecosystem. However, when compared externally, ETH's permissionless value circulation mechanism allows it to exist as a medium for decentralized value storage.
These two aspects are not contradictory. The emphasis on value storage at this time is necessary simply because many people do not care about this permissionless feature, instead evaluating Ethereum's value purely based on commercialization and profit standards centered on gas-burning efficiency. Therefore, it is important to highlight this contrast in permission conditions.