ETHO Protocol has had its fair share of drama over the last 6 months, so a good time to open a new chapter.
Working on a blockchain project is an interesting experience. Most people have been in projects before, which didn’t work out, where developers left or teams just broke apart. Nevertheless, most people try it again, the space is just too interesting. It is a wild time and you are in the midst of it: maybe this resembles the wild west and the feeling people have had at that time.
I wrote an article a year ago talking about this great project I bumped into: Ether-1 on the transition to Etho Protocol. A founder, some devs, business developers. It seemed to be a great team. Being burned in another project I was hoping for a change. This time I would work in a team and achieve something bigger.
Most teams are spread over the world and work remotely. Maybe this is one reason why it is much more difficult to read people. Well, it was after a while it turned out that the team was not fully functional. One part didn’t talk to the other part, didn’t have meetings and it turned out that the founder sometimes just goes dark.
As a new entrance into the team, you try to help out, and for a while, it seemed all good until from almost nowhere: the big bang. A question arose on accountability and the founder just exploded. Moreover, he turned dark and then sadly rogue. What happened then is a fight between the founder to kill the project as a whole — including taking large funds from the project. The rest of the team tried to rescue it. This drama would be a great Netflix plot.
As wacky or broken as some of those things are, it is amazing how great and inspiring communities are. Etho Protocol has a great one: out of nowhere, one guy approached the team to help and step up, in all fairness not only one: several people tried to help out.
This is where we are today: stronger than ever, but also more mindful that things can go very wrong:
ETHO black — core and auxiliary development. Dox, Dylie, Exlo and Frank are working together to bring ETHO Protocol technical forward. You find our code on Github.
ETHO blue- business development to scout and onboard partners and exchanges. Chris and Allan are working hand in hand to push the boundries for ETHO and to build an ecosystem including our main website.
ETHO pink — Then there are a lot of other members working their shifts on discord, twitter, and telegram. Alob, George, Pistol all working along.
The new chapter: Storage economy
Our development team has been working on a new node dashboard which is much more streamlined with the idea of ETHO to provide storage based on master nodes around the world. Everyone can participate in providing IPFS storage space by staking ETHO for a node. They then get paid from 2 sources: The blockchain reward and then from storage being used on the network.
Picture the scene: every week the team meets and discusses what are the next steps to take. Everything from website, partnerships, and improvements are then discussed in the ETHO Head Quarter. It has not been easy with the issues at hand. But despite all problems, the team has stuck together, even in the worst hours. Now see the light at the end of the tunnel.
This scene could have played out exactly like this if we would have been at one place if there wouldn’t be Corona and there would be an ETHO protocol HQ. But we live as we preach: decentralized.
On our website, you will be able to read more, and also here on Medium, we will continue the story. And who knows, it might be soon on Netflix.