10 reasons why standards matter for Ethereum - Part 1
The Community Leaders
"Standards are the bedrock of network-building and encouraging greater decentralization, and have been the defining characteristic of open networks since the 1960s. I think history has proven the axiom that by working together, we go farther. Blockchain technology is often highly tribal and competitive, but standards efforts can bring us together to work on the parts that don't need to differ, so that each of us can build more unique value for customers and the public. That's why efforts like the EEA are vital to enterprise blockchain's future."
Executive Director, Hyperledger
"Ethereum has grown thanks to the contributions of amazing and talented members from the open-source community, many of whom make use of technical standards like ERC-tokens every day. The functionality and uses for these tokens, of which there are now more than 200,000, have continued to evolve thanks to the power of the community. The Ethereum Foundation supports innovations including standards that enable teams to contribute to the network in unique ways, and through our Ecosystem Support Program, we are accepting applications to help the next big ideas succeed."
Executive Director, Ethereum Foundation
“All technologies require certain standards in order to be understood, to interoperate, and to generate the necessary network effects that allow businesses to prosper. Large or small, every business relies on standards to connect with customers, vendors and partners. Banco Santander is no different in this regard. Deploying various different flavors of blockchain technology and software for our projects means that standards and well documented specifications are always something that we look for. When it comes to Ethereum variants, the EntEth specification is extremely useful, providing clear paths to privacy, permissioning, performance and interoperability.”
Managing Director of Digital Investment Banking, Banco Santander
Chairman of the Board, Enterprise Ethereum Alliance
“By applying a global market-driven standard to Ethereum blockchain development, the EEA paves the way for business innovation across multiple blockchain clients,” said Ron Resnick, EEA Executive Director. “Enterprises and startups working with the industry’s largest developer ecosystem can easily and cost-effectively mix and match applications based on real market needs. The recently announced EEA TestNet is an important step towards delivering EEA-certified offerings, which will foster an open ecosystem of innovation across blockchain use cases, especially for businesses adopting this technology.”
"The point of standards is to enable an ecosystem that can grow beyond the capability even the largest participant, while making it possible for any participant to build better technology that improves the segment of the ecosystem that interests them. This offers a sustainable and robust environment to work in, where their suppliers are never so critical that they end up effectively controlling the customer rather than providing services to them"