The Right Tool For The Job.

in #trade-offs7 years ago

hammer-tool-thor.jpg

A lot of networks out their market their crypto as superior to everything that came before. This, of course, is ridiculous. No DLT out there is the most decentralized and censorship resistant and secure and robust and distributed and fast and scalable and...

You get the idea.

There are trade-offs. A more scalable blockchain lowers decentralization and opens up new attack vectors. There are hundreds of examples of these trade-offs. No one can do everything. In fact, ones that try may find themselves out in the cold because the jack-of-all-trades coins aren't going to have a niche.

We wouldn't try to build a gambling or gaming dapp on Ethereum now would we? The problem is, we totally did. Now we have ridiculous products like cryptokitties that seem utterly pointless given one, how dumb the game is, and two, it doesn't fit the defi niche of Ethereum.

A chain like EOS or even Steem (DPOS) makes a lot more sense for dapps of this nature. We wouldn't make defi dapps for networks like EOS or Steem now would we? Oops, never mind.

It won't be long before we find out why Ethereum is a superior foundation for such innovations. It only takes one fatal bug for everyone to lose there money. Here's to hoping it doesn't happen in our backyard.

The lines are blurred.

The entire cryptosphere exists on a spectrum. Everyone is helping everyone. Open source code can't compete. We are branching out in every direction and seeing what sticks. It might be highly inefficient, but we'll end up exploring a lot of paths who's doors would have been closed forever in the legacy economy. Besides, we've already seen where efficiency leads to: absolute corruption and the financial enslavement of seven billion humans worldwide.

Silly capitalists.

The legacy economy must monetize everything in order to scale. Crypto is inherently monetized, so anything that brings great value to the network is worth doing, even if the players that create that product can't siphon money directly from the application. Big enough stake holders will fund projects that make everyone money at the same time. Not to mention all the altruist developers that will flock to these networks even if they don't have a lot of stake.

Win/win/win

As time goes on we'll get much more used to what kind of functionality belongs on which chain. These products will fund and prove themselves to the world as the legacy economy collapses in on itself like a dying star.

Sort:  

Well said. No coiners and maximalists - of all kinds - make no sense to me. It seems clear as day to me that DLT is going to be a horses for courses type of tech. Hopefully the penny will eventually drop.

legacy economy collapses in on itself like a dying star.

Wow. I must admit I wonder where the world economy is going. It seems entirely possible that the greed and shortsightness of certain elements of the legacy economy may yet shoot themselves in the foot. Hang on to your popcorn folks. The world is in for wild ride. 🤣😁

🐎

To listen to the audio version of this article click on the play image.

Brought to you by @tts. If you find it useful please consider upvoting this reply.

Coin Marketplace

STEEM 0.05
TRX 0.32
JST 0.081
BTC 63253.25
ETH 1685.08
USDT 1.00
SBD 0.42