What would the ideal cryptocurrency ecosystem be like? - page 2.

TheUltraElite

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So anyway, I applied as a merit source :)

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In my opinion, no ecosystem is ideal because all of them compete with each other to advance their respective platforms.

Correct, it is absurd to attempt to compare one with the other for the intention of proving one's own opinion correct. But they should be compared only on a case by case basis for ease of use.

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Moreover, the crypto market is often monopolized by one person.

Any proof to back this claim? One person monopolizing is a centralized network is the opposite of what Bitcoin is. Bitcoin is decentralized and not all but most altcoins are also decentralized, at least the ones which came the first few in the coinmarketcap toplist.

Dont think that Satoshi control the network. The algorithm was created in a manner that anyone can use the network to transact and it would not be controlled by a single entity.

beerlover

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Quote from: Republikcoin.com on June 18, 2021, 10:05:15 PM

We know, that nowadays many blockchain platforms with their respective coins are competing to be number one in the cryptocurrency space.
There are people who agree with Ethereum and there are also those who agree with Binance as one of the best as a place to create smart contracts (for example).

Apart from these two platforms and parameters, do you all agree if someone leads an ecosystem related to the world of blockchain and cryptocurrencies?

I feel like we should not have just one thing that is full of everything perfect. I understand that ETH has an ecosystem, I can see Binance having their own, even tron has their own system as well and they are all fine. We should not look to have just one single thing that is better than everything else in every category, that is not really a good thing because it is eliminating competition.

We should have ecosystems where X is good and ecosystems where Y is good and that way we would have best in different places, and they will fight for your business and they will try to get investors by improving constantly, it is a non-stop thing, you improve one part and then you improve the next without stop. However the most important part of any ecosystem is to have many projects, if there is no interest towards it, it will become like tron where the ecosystem is not used at all, but if there is interest then it becomes like eth and bnb.

SquallLeonhart

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Quote from: Republikcoin.com on June 18, 2021, 10:05:15 PM

There are people who agree with Ethereum and there are also those who agree with Binance as one of the best as a place to create smart contracts (for example).

Apart from these two platforms and parameters, do you all agree if someone leads an ecosystem related to the world of blockchain and cryptocurrencies?

I always believe into new innovation to be incorporated everywhere so there are definite possibilities for new things to be invented in coming days which might be highly competitive to existing platforms for sure. At the same time this does not mean that will replace any of the existing system because for a payment and other speculative needs we are having something and if there is a need for something to be fixed then there would be plenty of possibilities for the arrival of new innovation.

Without problems, we cannot look for solutions; which is simply applicable even for this crypto space as well so first we need to look for problems and then we can simply find solutions; this way, we will be having more innovation in this crypto space in near future.

tyz

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Quote from: aprilnot on June 29, 2021, 06:15:24 AM

Quote from: Republikcoin.com on June 18, 2021, 10:05:15 PM

Apart from these two platforms and parameters, do you all agree if someone leads an ecosystem related to the world of blockchain and cryptocurrencies?

I totally disagree, it's like a monopoly and very far from what blockchain technology is trying to achieve. and there is no ideal ecosystem in the crypto market because all will always be competing. there will be no leader who controls the ecosystem, all have an equal chance of being successful.

Yes, I would agree in principle with the equal competition thing.

But, in the end, a few will prevail, maybe just one or two platforms. That's what the network effect brings in the long term. You can see that well in today's Internet giants. There is only one big social media platform (Facebook), only one big search engine (Google), only one big short messaging platform (Twitter), etc.

Sooner or later, the same thing will happen in the blockchain space.

TWW

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Quote from: aprilnot on June 29, 2021, 06:15:24 AM

Quote from: Republikcoin.com on June 18, 2021, 10:05:15 PM

Apart from these two platforms and parameters, do you all agree if someone leads an ecosystem related to the world of blockchain and cryptocurrencies?

I totally disagree, it's like a monopoly and very far from what blockchain technology is trying to achieve. and there is no ideal ecosystem in the crypto market because all will always be competing. there will be no leader who controls the ecosystem, all have an equal chance of being successful.

what determines success is the market.
indeed there is no exact size but an ecosystem that thrives and is successful if they have more users than others.
We have seen how now projects that build or develop their ecosystem continue to grow. strives to be better and to be a solution to what the users of the existing ecosystem feel.
everything is determined by market interest.

aprilnot

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Quote from: Republikcoin.com on June 18, 2021, 10:05:15 PM

Apart from these two platforms and parameters, do you all agree if someone leads an ecosystem related to the world of blockchain and cryptocurrencies?

I totally disagree, it's like a monopoly and very far from what blockchain technology is trying to achieve. and there is no ideal ecosystem in the crypto market because all will always be competing. there will be no leader who controls the ecosystem, all have an equal chance of being successful.

sapnu

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Quote from: Republikcoin.com on June 18, 2021, 10:05:15 PM

We know, that nowadays many blockchain platforms with their respective coins are competing to be number one in the cryptocurrency space.
There are people who agree with Ethereum and there are also those who agree with Binance as one of the best as a place to create smart contracts (for example).

Apart from these two platforms and parameters, do you all agree if someone leads an ecosystem related to the world of blockchain and cryptocurrencies?

What should the ideal world be like?

FYI: Google is the ruler of the internet, and there are people who agree with what he is doing, but there are also those who don't.

An ideal cryptocurrency ecosystem is not something we can make possible. Learn that no matter how perfect we want it to be, there will always be flaws to the system. Even with the world's monetary system, it is far from what people are wanting yet we learned to cope up and ride with it each and everyday. The same thing should happen with crypto, no matter how settled and well-developed the coins already are, there will still be others left behind which commits failures and downfalls. Crypto would function well with or without an ideal ecosystem and it has been like that for a long time already.

tyz

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Quote from: Republikcoin.com on June 18, 2021, 10:05:15 PM

What should the ideal world be like?

There are enough platforms that have a number of good features, but none really has all the good ones combined. Basically, four characteristics are important: low fees, highly scalable, decentralized and a fair distribution of coins/tokens. For the latter, one would have to develop a consensus that does not favor the stronger one.

MadeMen

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Crytocurrency ecosystem is still in development stage. Most times we feel something new is the best, only for them to be overshadowed by better technology. The advancement in the industry is superb and it would be unwise to set up an ideal standard when we're dealing with the issue of rapid obsolescence.

Ucy

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Quote from: Republikcoin.com on June 18, 2021, 10:05:15 PM

We know, that nowadays many blockchain platforms with their respective coins are competing to be number one in the cryptocurrency space.
There are people who agree with Ethereum and there are also those who agree with Binance as one of the best as a place to create smart contracts (for example).

Apart from these two platforms and parameters, do you all agree if someone leads an ecosystem related to the world of blockchain and cryptocurrencies?

What should the ideal world be like?

FYI: Google is the ruler of the internet, and there are people who agree with what he is doing, but there are also those who don't.

Very interesting question.

In the world where no one can be trusted, everyone should be bounded by good/right/fair Rules and the rules become the ruler. You'll need good judges/leaders that follow the good rules and are able to guide others based on the rules. Everyone in the network will have copies of the rules and use that to put the leaders in checks if they try to transgress. In truly decentralized network ,the leader will always be held accountable once the law is broken. And leaders are selected/elected based on merit.
You can always randomize(and also Anonimize) the leaders to keep them safe to make things hard for corrupt people or crooks to influence

sunsilk

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A real community that can be physically found for which the currency is cryptocurrencies, at least those top coins or high volume and liquidity that can be used as payment for that certain place for goods and services that are existing on that place.

That's a dream come true where everyone can spend their cryptos to pay for everything that they want. There might be some limitation on what are the only cryptos that are accepted but that's normal just as what we're doing.

TravelMug

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I don't think there will be a ideal cryptocurrency ecosystem because:

(1) the market is open for everyone 24x7, decentralised, no central authority

(2) Lots of buyers and sellers in the market, so others might lose their money, but majority will profit.

So for me, you can define the market as total chaos, but on the other hand each and everyone can developed their own strategy (might be including shilling, scams and others)., but in the end its really up to us to do our best and put forward a good game plan.

Ararbermas

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There will always a competition in crypto space that's why a lot of people here who believed that the project is good preferred to compete to others no matter what the situation is.. Especially right now wherein mostly cryptocurrency were down so for sure there's a race just to survive the red wave in the market.. And the funny things is they're insulting as well and it seems unprofessional ways. Lol

cryptoaddictchie

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The ideal ecosystem so far is the ethereum network but we can see that binance smartchain also advancing with this. There are also some other contender or in the pipeline aside from these two. I am rooting for avalanche and fantom network too and I can see a alight boost on their expanaion and development.

Also in the last league we can see polygon or matic as improving the fastest. We can see many expand their ecosystem on polygon and thats not shocking cause they really show how efficient their platform.

Republikcoin.com

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^ So? There are no ideal conditions for the world of cryptocurrencies?
All platforms just have to continue to compete to be the best by keeping up with technological developments as well as human needs?
Is this fun?

adzino

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Does ecosystem even exist in the crypto currency world? What exactly do you even mean by ecosystem over here?

Quote from: Republikcoin.com on June 18, 2021, 10:05:15 PM

We know, that nowadays many blockchain platforms with their respective coins are competing to be number one in the cryptocurrency space.

And that's a good thing, isn't it? More competition means more development. If there was no competition at all, we would just see one platform leading and probably monopolizing everything. If they didn't had any competition, they wouldn't want to add/develop anything on their existing platform. This is true for everything.

Quote from: Republikcoin.com on June 18, 2021, 10:05:15 PM

There are people who agree with Ethereum and there are also those who agree with Binance as one of the best as a place to create smart contracts (for example).

People have opinions and preferences. One might like Ethereum, others might like Binance. They all have their valid reasons and to each their own. None of the system us perfect though. Each will have or has their own flaws.

kidbounty

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HELENA

the crypto market can never be ideal, because there will always be competition. there are no leaders, there are only popular platforms or not. Google can be number one because of where it has a monopoly, and that can't be done in the crypto market. all have freedom, because the nature of crypto is decentralized.

Coin_trader

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Fast and Has Good security.

For me this is the criteria that's essential for blockchain. Many Blockchain Project right now are competing each in terms of TPS but some of them are showing some lack of security that resulting on there system breach. For me if blockchain has this to main key characteristics, They can completely dominate the market.

pinoycash

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Quote from: Republikcoin.com on June 18, 2021, 10:05:15 PM

We know, that nowadays many blockchain platforms with their respective coins are competing to be number one in the cryptocurrency space.
There are people who agree with Ethereum and there are also those who agree with Binance as one of the best as a place to create smart contracts (for example).

Apart from these two platforms and parameters, do you all agree if someone leads an ecosystem related to the world of blockchain and cryptocurrencies?

What should the ideal world be like?

FYI: Google is the ruler of the internet, and there are people who agree with what he is doing, but there are also those who don't.

There's no ideal blockchain, Both network can co-exist. I don't think there's a real competition between the two since they almost share the same user base. But i prefer to use BSC due to low fee's, but once ETH switch to POS it will be a different scenario.

_MrTuyul404

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Ethereum represents the natural evolution of the crypto ecosystem. Bitcoin came along and provided a proof of concept that an economy made up of virtual currencies could exist without a centralized intermediary (such as a central bank). While Ethereum demonstrates that you can use this “no centralized intermediary” model and apply it to other transactions, such as legal or professional contracts. Then came the term smart contract.
The conclusion is that Ethereum has the potential to democratize virtual currencies. And with so many potential applications, the underlying ETH token could easily beat Bitcoin's profits in the long term.

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