As we near the end of 2022, it's important to reflect on the challenges and difficulties that we have faced as a community and project over the past year. It's been a challenging time for many, and it's natural to feel a sense of uncertainty or even frustration as we navigate these difficult circumstances. Furthermore has the crypto market itself has had a lot of challenges. Time to look back and then look forward.
2022 had it all
We saw a lot of challenges in crypto in 2022. From the crypto winter, the Luna crash to the FTX implosion. And even in our little world 2022 has been mind boggling.
Actually 2022 didn't started off so bad, we introduced in Q4 2021 a solidity uplift which allowed us to mint NFTs. Dox and me sat down and discussed over christmas to develop a NFT portal. The released version can be seen on ethonft.com
20th of February we had to face the terrible fact that our founder had misused the bridge contract to remove funds. The team was shocked but also helpless as our former founder has been developing most of the assets. Dox played a prime role in uncovering and also post processing data rigorously
28th of February: After the incident, it was obvious that we needed to break away everything from the former founder. This was the basis of the hardfork called Phoenix. With this release, we could control accounts ourselves.
14th of March: Our previous founder then activily sabotaged the backbone of ETHO protocol by switching off the payments for the ETHO node network. We developed a new dashboard and re-instantiated payments after a major uplift. People continued to provide nodes, which was very motivating to see.
7th of May we then redeployed the bridge as Kucoin was still operating on the older contracts. New bridge contracts were deployed and Kucoin required us to pay a significant amount to make the change to the new contract. All accounts got the new ERC20 wETHO token.
We are in the summer and finally, Kucoin moved to the new contract. We felt that we were on a good path of recovery. But we should have chosen our partners more wisely. 4 month later they delisted us without a warning claiming low volumes.
We started a new chapter in the 2nd half of the year. We needed to deploy a more efficient product than the ETHOFS with faster performance and lower cost. After a lot of design discussions in the team have resulted in a major overhaul in the making with a new name: Etho Protocol IPFS Cloud.
Where do we go from here?
There is an insight that makes our team confident that there is a future for Etho Protocol: In each and every discussion with crypto projects there is a clear need for decentralized storage. Therefore all our focus is on finalizing the Etho Protocol IPFS Cloud - short EPIC. With our product, we can engage then with projects of all kind
And with that engagement comes visibility.
So 2023 will be a key year for us with the upcoming launch of our new product. This new product represents the hard work, dedication, and innovation of our team. If hard work will be crowned by success, then fasten your seatbelts...
