Article shows a real multitude of issues that were ongoing at BlockFi. The same source goes on to say:
"Company insiders detailed a number of problems, ranging from a clunky tech stack powered by a relatively obscure programming language, Elixir (“writing a book in Latin”), to a mentality fueled by a relentless “number go up” attitude, focused on increasing customer deposits which double as liabilities.
“We were building with a bad tech stack which made us exponentially slower — slower to roll out products and updates than our competitors, and we had to hire more developers to compensate,” one source said."
Yeah, they had 99 problems and a bad tech stack wasn't one of them.
On a more serious note, Elixir is very good but suffers from a problem shared with Erlang. If you do not have experience to grok the OTP way of doing things you'll likely create worse software than if you used something else, or you'll take twice as long. OTOH, if you do grok how to design things using OTP, then the software you create has a decent chance of being fast and fault tolerant.
Erlang in particular is awesome, but I've seen people have trouble finding Erlang devs to hire.
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[ 0.25 ms ] story [ 20.1 ms ] thread"Company insiders detailed a number of problems, ranging from a clunky tech stack powered by a relatively obscure programming language, Elixir (“writing a book in Latin”), to a mentality fueled by a relentless “number go up” attitude, focused on increasing customer deposits which double as liabilities.
“We were building with a bad tech stack which made us exponentially slower — slower to roll out products and updates than our competitors, and we had to hire more developers to compensate,” one source said."
This tells me if you want to kill a crypto company quickly, outright refuse to work at one or switch jobs immediately.
The quicker programmers jump ship from crypto companies the better for humanity.
On a more serious note, Elixir is very good but suffers from a problem shared with Erlang. If you do not have experience to grok the OTP way of doing things you'll likely create worse software than if you used something else, or you'll take twice as long. OTOH, if you do grok how to design things using OTP, then the software you create has a decent chance of being fast and fault tolerant.
Erlang in particular is awesome, but I've seen people have trouble finding Erlang devs to hire.