ETH killers shouldn't try to become Caliph instead of the Caliph.

It's funny to see how, all these ETH killers, are slowly but surely getting more and more useless. EOS was promising unlimited scalability, which it never reached. Block.One, the company behind EOS, isn't even building its flagship product, a social media called Voice, on their blockchain. Ridiculous. And I'm not even going to cover Tron, because I would simply be losing my time. Tron being a Chinese marketing scam, I doubt it's worth your time and especially your money.

Let me tell you something: no one will take the place of the Caliph. No one. Like no one will take the place of ultimate Caliph, Bitcoin. That's just how it is. There are currently more than 150 developers working day and night on ETH 2.0. Do you really think your little independent team with less than 10$ million of funding can compete with that? The answer is obviously no. Whatever you think about Ethereum, it's not going away. What a lot of people fail to understand, is that, the power of Ethereum is not its "first mover advantage", it's the ecosystem.

Currently on Ethereum, if you want to bet on the future, you can use Augur, or Gnosis. If you want to borrow or lend money, you can use Maker, Compound, InstaDapp, dYdX, bZx,... You want to trade derivatives? Fine, you can use Synthetix for that. You want to try alternative ways of trading? No problem, use Set Protocol. You don't want your old crappy token and want to participate in the DeFi revolution? What are you waiting for? Uniswap, Kyber and all these platforms are out there to help you out with that!

I have only been covering the financial ecosystem of Ethereum here, but there are also the nascent gaming, NFT, art and real estate ecosystems.

What you need to realize, is that to recreate the ecosystem Ethereum currently has, it would take something like two years with hundreds of millions of dollars. And on top of that, you would need to develop the underlying platform of course. So, if you want to invest in other platforms than Ethereum, you shouldn't be looking for "ETH killers", but for "ETH alternatives". What I mean with "ETH alternatives" are platforms taking a RADICALLY different approach. Not just forking ETH and tweaking some things like Tron basically did, but building from the ground up a platform which is focused on different things than Ethereum, which is focused on different regions of the world than Ethereum (currently) is, and which has been designed in a different way than Ethereum has.

So instead of trying to find or even create the next Ethereum, well, just focus on Ethereum, and look for platforms which aren't trying to become the Caliph instead of the Caliph, but platforms trying to become Caliph, besides the existing Caliph.


You'll only receive email when 0xtardigrade publishes a new post

More from 0xtardigrade