Actually its better to have those many because each time we see, one after one there are many failures. Whether this is out of increased network load, or whether it is out of increased Gas fees. They have outcomes which are making users uncomfortable about its use. If they dont get faster and cheaper results then they will switch the platforms all the time which is good for the economy of the platform and users.
I don't believe in monopoly. Each user also gets benefit from the different platform, some of them have lightening network some of them are easy to transact while some of them are cheap. Too many is good, than single.
Topic: Don't we have too many smart contract platforms already? (Read 564 times)
That won't be a problem in the future, more and more Cryptocurrency projects that have smart contracts will allow people to choose which smart contracts are the most feasible to use to build new Crypto projects.
And they will compete to provide the best service at a low cost so that they are made a choice, and this certainly has a positive side for new Crypto projects.
And they will compete to provide the best service at a low cost so that they are made a choice, and this certainly has a positive side for new Crypto projects.
It's a valid argument. The more the competition, the better it'll be for the growth of the crypto/Blockchain space. Ultimately, people will decide which smart contract platform to use from the other. The diversity in Blockchain networks, gives people a choice. It's true freedom if you ask me. If we had a single blockchain platform for everything, innovation would've stifled by now.
Thanks to the open source and decentralized nature of crypto/Blockchain tech, developers are free to create forks from an existing project for true innovation. Different smart contract platforms will surely reduce the main burden on a single blockchain network. Imagine how unusable Ethereum would be if it were the only platform for dApps in existence. Fees will be ridiculously high while transaction confirmation times would be insane. Now that we have many alternatives to Ethereum, we can decide whenever we want security/reliability/decentralization or convenience. It all depends on what your specific needs are. As long as each project works together to make our world a better place, nothing else matters. Just my opinion
That won't be a problem in the future, more and more Cryptocurrency projects that have smart contracts will allow people to choose which smart contracts are the most feasible to use to build new Crypto projects.
And they will compete to provide the best service at a low cost so that they are made a choice, and this certainly has a positive side for new Crypto projects.
And they will compete to provide the best service at a low cost so that they are made a choice, and this certainly has a positive side for new Crypto projects.
Different projects require different ideas on how to set their project thru smart contracts. There is continuous development on how they can implement it as well as what they needed to do that will suit in their projects goal. It's up to us whether we will use the one we tested before or we will try new that might offer something not yet available in others. All will depend on our needs and experience in using such contracts.
Well, crypto/Blockchain tech is decentralized and open source so it's normal to see many projects emerge with their own features. Smart contracts are implemented on most cryptocurrencies these days, because it's the trend of the moment. This expands the capabilities of the underlying blockchain network far beyond finance. It's good to have more than one platform for decentralized applications, as this reduces the burden on a single blockchain (like Ethereum). The more alternatives there are, the lesser the load will be on already-established platforms. What's important is mainstream adoption. If a project provides real use cases to the mainstream world, it'll be able to stand the test of time. I wouldn't worry about the increasing number of smart contract platforms as long as the crypto/Blockchain space remains decentralized. Just my opinion
One can argue that there are already too many smart contract blockchains out there and we need more platforms that will work directly for the users but we must remember that these smart contract platforms aren't the complete package yet and a lot still has to be improved on, Binance smart chain as set the new benchmark for smart contract platforms
Different projects require different ideas on how to set their project thru smart contracts. There is continuous development on how they can implement it as well as what they needed to do that will suit in their projects goal. It's up to us whether we will use the one we tested before or we will try new that might offer something not yet available in others. All will depend on our needs and experience in using such contracts.
One can argue that there are already too many smart contract blockchains out there and we need more platforms that will work directly for the users but we must remember that these smart contract platforms aren't the complete package yet and a lot still has to be improved on, Binance smart chain as set the new benchmark for smart contract platforms
in fact there are already many blockchain / smart contract platforms but i believe that each of them also has unique characteristics, peculiarities and then it is always better to have a wide range of choice so for me new platforms / proposals are welcome
each platform has advantages and uniqueness when compared to other platforms. the most important thing is can the platform build a broad and useful ecosystem for the crypto market? most platforms fail because they do not meet the demand that is trending in the market. for example the key for platform that be trend now is zero transaction fee and easinest in creating smart platform. did new platfrom could provide it ? As long as there is demand in the market for smart contracts, then there would be developers willing to compete for the pie. You don't have to worry about that though because the market will adjust this in the long run. Only the best will survive and the competition in this division will help developers try to get ahead of the game and grow even further. This is actually working in our favor though.
That's certainly true, mate. Since crypto/Blockchain tech is open source and decentralized, anyone can start his/her own project to make our world a better place. Projects that are consistent in development and innovation will ultimately survive, while the rest will go down the drain. There's no guarantee Ethereum will remain as the world's second-largest cryptocurrency by market cap. The same can be said about Binance Chain, Cardano, EOS, and other alternatives on the market. Different platforms will compete against each other until one of them becomes the dominant force in the crypto/Blockchain space. I wouldn't worry about new smart contract platforms popping up every once in a while as long as crypto stays decentralized and censorship-resistant. Just my opinion
Day after day, I see new cryptocurrencies whose underlying blockchain networks have smart contract features. We already have Ethereum, Cardano, EOS, Binance Coin, Flow, Tron, Polkadot, and many other cryptocurrencies with smart contract functionalities. Sometimes I think we have too many smart contract platforms that would bring no real use cases in the mainstream world. Instead of creating a new smart contract platform, developers should focus on building within existing platforms to make crypto land a better place. Yet, developers' mindset is to make large profits in the least time possible by creating a new blockchain network from scratch.
What are your thoughts? Do you think the market is already saturated with too many smart contract platforms? Or is there still room for growth? What may be the cause for such an unprecedented increase in new blockchain networks with smart contract functionalities? Will this ramp up the competition in the crypto/Blockchain space? Or will it do more harm than good for established players like Ethereum and Binance Coin? Your input will be greatly appreciated. Thank you.
What are your thoughts? Do you think the market is already saturated with too many smart contract platforms? Or is there still room for growth? What may be the cause for such an unprecedented increase in new blockchain networks with smart contract functionalities? Will this ramp up the competition in the crypto/Blockchain space? Or will it do more harm than good for established players like Ethereum and Binance Coin? Your input will be greatly appreciated. Thank you.
As long as there is demand in the market for smart contracts, then there would be developers willing to compete for the pie. You don't have to worry about that though because the market will adjust this in the long run. Only the best will survive and the competition in this division will help developers try to get ahead of the game and grow even further. This is actually working in our favor though.
in fact there are already many blockchain / smart contract platforms but i believe that each of them also has unique characteristics, peculiarities and then it is always better to have a wide range of choice so for me new platforms / proposals are welcome
Agreed with you, just let the market decide which smart contract platform deserve to exist for a long time, if there's too many smart contracts the the market will naturally eliminate the ugly ones and therefore we only left with the good smart contract platform.We are in a decentralized market where every projects are open source, people making the same thing over and over again is to be expected since some people just want to try something out, but whether it's gonna be used by the community is entirely another thing.
Competition can no avoid in markets because alot of people want to use their skill and make money from it. From high competition will born good quality project, the same thing for others product like many brands of car, motorbike, mobile phone and others. They are make competition each others to be the best one.
Keep them coming Devs, there is no such thing as too much in crypto space what matters is the last man standing, if we can't create room for more we won't know which is the best of the best, also this is why we have red market which will purposely reveal bad projects on the long run
This is a good thing i think，i am greedy and even hope that there will be more and more smart contract platforms. As long as in these smart contract platforms could grow up one or several are as excellent as ETH or even better than ETH in the future, it will be good.
legendary
Activity: 2716
Merit: 1102
Leading Crypto Sports Betting & Casino Platform
It's not. that might be the opposite thing because they were using the same mechanism and did you see how the blockchain can be compliant from one to each other just like ethereum, bsc and rsk or even matic?
These were using the same mechanism but these are building the different smartcontract. I rarely seen blockchain that offers a unique idea. Parachain was also a bit complicated than it.
These were using the same mechanism but these are building the different smartcontract. I rarely seen blockchain that offers a unique idea. Parachain was also a bit complicated than it.
They have a unique concept and are written in the whitepaper, each platform showing their advantages over competing platforms. They write that the project they are working on will be better than their predecessors who became competitors. It is true, they have a purpose, but the realization is always not much different than the existing platforms.
So the community prefers a platform that can create smart contracts that have an older age, because it will reach the peak point faster where their business model begins to be realized and all real features make more sense.
in fact there are already many blockchain / smart contract platforms but i believe that each of them also has unique characteristics proposals are welcome
It's not. that might be the opposite thing because they were using the same mechanism and did you see how the blockchain can be compliant from one to each other just like ethereum, bsc and rsk or even matic? These were using the same mechanism but these are building the different smartcontract. I rarely seen blockchain that offers a unique idea. Parachain was also a bit complicated than it.
Yes it is, but its provided so the developers can choose the platform which suit to the projects.
Also, some of platform have advantages to the another platform.
Thats true. A lot or a little is relative, diversity makes positive competition, this is good for the race to bring the best product for the ecosystem, right? A project that is unique and garners attention from the market will last, so don't worry too much about this. There are many burger vendors, but each vendor has a unique taste, and customers also have their own tastes and say "Burger A is the best", while others say "Burger B is the best". That's a simple analogy from me regarding the OP's statement.Also, some of platform have advantages to the another platform.
Yep, its good analogy for it. Moreover the projects which deployed on every platform is different.
So, if you want into a project then you need to join the platform.
That's clear, because every platform that has been successfully built will always have its own uniqueness and also its own advantages, because a completely perfect one will always be difficult to find in the crypto space.
Exactly. Diversity is key for Blockchain to succeed in the mainstream world. The more alternatives there are, the better it'll be for Ethereum. Ultimately, there can only be one winner. And such is the one able to provide usability above all else. Despite the numerous platforms on the market, Ethereum's status as the "King of Smart Contracts" has been untouched. This shows us that ETH has some loyal supporters behind it, because it's the most decentralized smart contracts platform in the world. Other alternatives may be faster and cheaper than Ethereum, but they're missing the most important thing which makes a Blockchain a Blockchain. And that is decentralization, reliability, and censorship-resistance. Investors and traders will ultimately decide which coin stays afloat and which coin goes down the drain. I wouldn't worry about the many smart contract platforms in the crypto/Blockchain space as long as the core technology remains decentralized and open for everyone. Just my opinion
Even if they are, investors are still looking and developers are still creating the Cryptocurrency industry is so huge that new innovation will be welcome here with open arms, so expect more smart contracts project to be created by developers and investors to invest, the Cryptocurrency is still moving forward and we are getting better, with these smart contract-based projects.
No doubt we are getting better blockchains every day but I feel like there are just too many right now. The recent bull run actually helped a lot of coins because every coin was getting enough attention and investors even meme coins.for now yes, but not for the future. when crypto is already part of the mainstream, we need a new smartcontrac platform. if we just rely on the current platform, the problems that occurred in ethereum will repeat itself.
Crypto is already part of the mainstream and yes there was a problem of transaction fees on Ethereum but that happened because way too many projects were built on it and the number of transactions being made was crazily high.Ethereum of course is the top platform and is the one that is used widely but there are definitely advantages which could be found in other smart contracts platforms that is not on Ethereum.
I feel like right now TRC-20 is the better blockchain but everyone has their own favorite and ERC-20 is still the dominant one. If I am not wrong the TRC-20 is the busiest blockchain right now in terms of transactions made. legendary
Activity: 2380
Merit: 1082
Leading Crypto Sports Betting & Casino Platform
Well, am not suprised, as we all know, man is naturally greedy, everyone wants the opportunity to amass as much money as we can, so when the opportunity shows, this developers seize it without thinking if really there's need for that which they are about to embark on, but on the other hand, it's not a bad thing really, cus it's this same way out side crypto where many same businesses are competing with each for the Supreme power, so personally, I think it's still normal as this will help other ubder-performing blockchains step up their game just like it was with Ethereum when the network got so congested that one can hardly transact without spending over a hundred dollar, this was when binance chain came to our rescue.
in fact there are already many blockchain / smart contract platforms but i believe that each of them also has unique characteristics, peculiarities and then it is always better to have a wide range of choice so for me new platforms / proposals are welcome
That's clear, because every platform that has been successfully built will always have its own uniqueness and also its own advantages, because a completely perfect one will always be difficult to find in the crypto space. Jump to: