Theranos Was ‘Uncannily Ethereum-Like,’ Says Bitcoin Pioneer Adam Back
Marie Huillet's original article for cointelegraph.com reduced by 75%
Blockstream CEO Adam Back - inventor of the hashcash Proof-of-Work system later used in Bitcoin's mining algorithm - has controversially compared Ethereum with the now-defunct biotech startup Theranos. As part of a Twitter exchange published on Nov. 26, Back claimed that Ethereum's allegedly overweening promises could be compared to the failures of Theranos.
From her acme as the world's youngest self-made female billionaire, Holmes ended her public career in disgrace when Theranos came under investigation by the United States Securities and Exchange Commission. Both Back and Todd's comments sparked fervent disagreements from community members - one that perhaps predictably split along tribalistic divide between so-dubbed Bitcoin Maximalists and Ethereum advocates. Others voiced their discomfort at the comparison between a proven fraud that courted the risk of endangering lives with the aspirations of the Ethereum project.
Another bone of contention rested on the auditability of the open-source development and testing that is prevalent in the Ethereum community, which goes against the grain of Theranos' infamous stealth tactics. Earlier this month, Ethereum Foundation team lead Péter Szilágyi confirmed the Dec. 4 date for the network's upcoming upgrade, Istanbul, development of which has been channeled via a series of Ethereum Improvement Proposals published as a GitHub repository.
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CN [too long; didn’t read]
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