What Crypto Asset Will Dominate The Market In 5 Years? 30 Days Writing Challenge - Day 12
We live in a cryptocurrency world where the terms Bitcoin and crypto (for more of the world) are interchangeable. But as we've seen with many massive brands and corporations, innovation and changes in economies can quickly turn market leaders into afterthoughts in a matter of months. So in a world driven by technology, can Bitcoin remain on top of the crypto world?
@Dragosroua is challenging Steemians to a 30-Day Writing Challenge. For day #12, he asks, "What crypto asset will dominate the market in 5 years?" Here's my response.
The Crypto Asset That Will Dominate The Market in 5 Years
When trying to guiess what cryptocurrency will dominate the market in 5 years, there are a lot of factors to consider. Out of those factors, from the adoption rate of cryptocurrency to the potential impact of quantum computing, I believe that the most critical factor is the ability of a cryptocurrency (the one that will dominate the market) to enable blockchain development and a capable infrastructure.
This has been a competitive space that is still developing. There is no doubt that Ethereum has taken the lead as the top infrastructure for other blockchain developers to utilize when launching a project, but their stranglehold is weakening. Because of performance issues, there are serious concerns that Ethereum will not be able to continue to support thousands of projects that each have ongoing transactions. I think of it as a complicated highway that has been built on tough terrain with only two lanes, and due to a surge in traffic, they now need an 8-lane highway instead.
So who has or can build the 8-lane highway that is needed? At this time, I believe it's EOS.
EOS "is a blockchain-based, decentralized system that enables the development, hosting, and execution of commercial-scale decentralized applications (dApps) on its platform."
Built on a graphene network, the future potential of EOS is limitless because of their team, led by Dan Larimer, and his track record of building the tech behind BitShares and Steem, and the technology and partnerships they will utilize along the way. Steem is able to handle thousands of transactions per second, while Ethereum can handle somewhere around 15.
As @dragosroua predicts, the leader in 5 years may not even be an existing cryptocurrency, but with the information I currently have, if that platform does exist today, I believe it's EOS. I think that in 5 years, the leading crypto asset will be EOS, beating Bitcoin, Ethereum, Ripple, and thousands of others.
Previous 30-Day Writing Challenge Posts
- My Most Consistent Hobby Over the Past 5 Years
- Where I Believe Steemit Will Be in 5 Years
- My Favorite Morning Drink and Why
- How I Started on Steemit
- What I Would Do with 1,000 STEEM
- The Best Thing That Has Happened To Me Because of Steemit
- My Top 5 Cryptos
- The Top Reason I Stay on Steemit
- 3 Ways to Make Steemit.com Better
I would agree that of all cryptos in existence now, EOS seems the likeliest candidate to succeed. However, if I was to predict what crypto asset will dominate the Market in five years, it would be an as yet undeveloped asset.
Wow, yeah, that's what @dragosroua believes as well. I just see how long it takes for these projects to gain real traction and start to hit some of their goals and feel like it has been developed. Now what is on top of the market in 7-10 years, I would definitely agree. Who knows, but it's fun to speculate.