While smart contract blockchains have proven themselves to be extremely useful and inherently valuable, people have struggled to align on the intrinsic value of smart contract blockchains over the decade since Ethereum’s introduction. Unlike Bitcoin, which has long been analogized as digital gold and valued on a relative basis to the ancient asset, smart contract blockchains have proven more difficult to value on a fundamental basis. What market are they pursuing? Why should they be valuable ...

While smart contract blockchains have proven themselves to be extremely useful and inherently valuable, people have struggled to align on the intrinsic value of smart contract blockchains over the decade since Ethereum’s introduction. Unlike Bitcoin, which has long been analogized as digital gold and valued on a relative basis to the ancient asset, smart contract blockchains have proven more difficult to value on a fundamental basis. What market are they pursuing? Why should they be valuable ...