The Ethereum ecosystem received a big boost, with the holding of the sixth Ethereum Developer Conference. Developers, designers and enthusiasts from all over the world came to the city of Bogotá, Colombia, between October 11 and 14 to explore the latest Ethereum developments, learn more about everything related to this great ecosystem and how to build on its characteristics.
At DEVCON you could find people from all nations of the world, from India to Argentina, to everyone else, among the attendees there were more than 113 different nationalities. As one of the attendees said:”Seeing so many different people in one place is a rare experience”.
The event also provided us with the opportunity to connect with industry leaders and innovators. We were able to hear updates on new products or see presentations from leading voices in the crypto ecosystem such as Vitalik Buterin, Danny Ryan and Skylar Weaver.
We had a great time at DEVCON VI and are thrilled with what we saw. So here we will tell you about our experience at this great event!
A Brief History of DEVCON
The Ethereum community has been meeting, sharing ideas and collaborating in person since 2014. The first Ethereum Developer Conference was held in Berlin in mid-November to be exact.
Subsequent conferences were held in London, Shanghai, Cancun, Prague and Osaka. These conferences were always accompanied by a series of smaller events, such as hackathons or simple meetings to meet new people.
Over the course of these events, the Ethereum team has been able to gather feedback and talent needed to improve the protocol. Many of the big changes, such as The Merge, can be attributed to the efforts of the Ethereum communities and their developers.
Ethereum and DEVCON in a nutshell
DEVCON Bogotá was the sixth edition of this great event and the second in Latin America. After 3 years of waiting for the pandemic, the Ethereum community was finally able to get together to talk and keep up to date with the latest details.
This was the largest Ethereum meeting ever held. The event took place months after The Merge, when Ethereum moved from Proof of Work (PoW) to Proof of Participation (PoS), this change meant a 99.8% reduction in energy consumption, opening the way to a greener and more environmentally friendly protocol.
It was a very long road to get to this point. Last year we saw Ethereum becoming more widely adopted as a protocol for decentralized applications, especially thanks to the explosive growth in the number of tokens issued on the Ethereum blockchain.
Ethereum has also established itself in our region with many communities representing their country. In particular, DEVCON Bogotá was the perfect place for the Latino community to show its potential and the talent it can bring to the ecosystem.
The State of the Ethereum Ecosystem: Where Are We Now?
The Ethereum ecosystem is growing. As more companies and organizations adopt Ethereum, more people will become familiar with this open-source blockchain technology; the goal is for more companies to start using the technology itself, which can be useful for running decentralized applications, or “dapps”.
This enthusiasm and expectation around Ethereum has led to the creation of thousands of decentralized applications (and while some of them may be useful, most people don't need thousands of different apps yet). There's still a lot of work to do to make Ethereum better for everyday use and that's one of the big problems with Ethereum: it's not easy to use.
Although, in recent years, alternatives have been created to make it easier to develop on Ethereum, devs still have to spend hours to get their products up and running. Another problem, perhaps, is the distrust that still exists around cryptocurrencies, let's remember that this is a very volatile market and despite the fact that there are stable currencies, many people do not find a safe way to understand the possibilities they can explore in this world.
Projects such as El Dorado play a fundamental role, as they offer easy-to-access and uncomplicated tools that make the use of cryptocurrencies more user-friendly.
What's next for Ethereum?
The next major event for the development of Ethereum will be the Shanghai upgrade, which is currently running a test network. This major update is planned for sometime in 2023 and one of its main improvements will be to offer the possibility that users who have staked ether can withdraw it along with the accumulated rewards. It is also expected that this update will allow for even more data to be processed, thus reducing gas prices considerably
DEVCON VI was an important milestone for the Ethereum community, and the examples are endless of how this event has strengthened the wider ecosystem. It is remarkable how crypto adoption is increasing worldwide, without a doubt, we are excited to see where the Ethereum ecosystem is going, and we are already looking forward to DEVCON VII in Singapore.
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