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RE: Ethereum's Growth Bottleneck: Can Rising Prices Support Usability Cost, or will @dan's new EOS Project Prove A Heavy Contender...?
Ethereum was never built for the purpose of ETH being a cryptocurrency - rather, it was built as platform upon which to build decentralized apps. Ether is essential to run processes on the blockchain - whether a transaction, dApp, or smart contract. thus, it's valuable because it's an essential resource for use of the blockchain, which the market has determined as valuable because of its functionality...