It’s no small feat that Bitcoin has advanced decisively into its second decade of existence. And the OG blockchain’s most notable offshoot to date, Ethereum, is making along well in its own right as the smart contract platform approaches its 5th birthday in July 2020.
The people who have built out these projects and atop them over the years have accomplished much, even if these accomplishments are only fully appreciated by people within the cryptoeconomy.
Yet thinking about far Bitcoin and Ethereum have already come gets one thinking about how far they will go. So far, the two top public blockchains have demonstrated remarkable uptime and reliability, all while being trustless and global and backed by users rather than by any nation state. Accordingly, Bitcoin and Ethereum and their associated cryptocurrencies currently enjoy network effects that suggest they will be around for years, or even decades, to come.
In this post, we’ll explore some reasons why these hitherto successful blockchains seem poised to last in some meaningful form or fashion for a long time, as well as some top counterpoints as to why they may not.
GitHub Archive Program
In April 2020, popular Microsoft-owned software development platform GitHub plans to archive droves of open-source code repositories in a special underground facility in Svalbard, Norway.
That facility, which is buried deep beneath a mountain, will thus come to safely store the repositories of top cryptocurrency projects like Bitcoin, Ethereum, and more. As such, these codebases are set to be preserved for a millenium and beyond, ensuring in the very least that the top publican blockchains will be around as artifacts for posterity.
That’s a powerful insurance policy on a cultural level, to be sure. But burying repositories underground is obviously much different from Bitcoin and Ethereum actively running for hundreds of years, which is a separate matter entirely.
The Bitcoin and Ethereum networks are…