BlockBB

Posted on Feb 23, 2022Read on Mirror.xyz

Other public chains will be died after ETH L2 ready?

If all L2s are now working properly, will other public chains die out due to lack of developers and users?

My answer is no, why?

  1. I try to compare public chains to countries, there are more than 200 countries in this world, most of them have similar lifestyles, use similar industrial products and produce similar industrial products, and each country uses many homogeneous companies and homogeneous organizations internally, why these countries, these companies and these organizations can still exist in large numbers in parallel? A major reason is that there are too many people, too much demand, and the global market is too big, so many homogeneous countries and companies will exist in the world.
  2. In the digital world, in the crypto field, although all our communication and switching are so easy, even so, there will not be a scene of dominance. The 100 eth ecologies will definitely die out, but there will be more than 50 ecologies left in the world. People underestimate the future demand of people, the endless demand can't be handled by dozens of public chain ecologies, and they also overestimate the capability of existing technology and future potential of public chains, the demand will always make these public chains tired to cope.
  3. Some people may say that there may be only one google, one facebook and one Amazon in the world, and since they can meet the needs of most human beings in the world, the public chain field will be the same, and only a few public chains can exist, and there is no need for so many public chains. This view is inaccurate, why?
  4. The difficulty of designing and developing public chains in the future, as well as the richness of using them, will be far more than the existing centralized services. Humans may build a google, but it is hard to build a public chain like google to occupy most of the market. There are some services that are easy to dominate the market, and there are most services that are hard to dominate the global market because they are not of the same complexity. I think the complexity of future public chain services is much more than a search service like google. 5.
  5. Let's look at the social field again, the most used one now is facebook, but don't forget that people are still using single, telegram, line, and wechat, the social service in the Chinese language world, if the Chinese and US governments completely liberalize the market, I believe that all these applications will have a huge number of users at the same time. Let's not forget that one of the main differences between these existing web2 services and crypto domain services is centralization, their power and dominance instead is coming from centralization and centralization, if facebook and wechat are completely decentralized, it is conceivable that there must be a large number of forked projects. It is impossible to be a scene of 2 dominant companies.
  6. The most powerful one in the field of public chain is BTC, followed by ETH. Even now eth and L2 ecology are already perfect to meet various application needs, if I want to create a special social service for my team, my family and friends at this time, I will probably choose to fork eth and then add many unique features, this chain will be maintained by a few of us and achieve consensus updates and This chain will be maintained by a few of us and implement consensus updates and changes, and then I will link this private link into some L2 chain in the ethereum ecosystem. If my social service is very special and will be liked by many people, then I may consider opening it to more people, and there is no guarantee that this chain will not be used more than ETH, but this possibility exists anyway.
  7. In summary, the existence of multiple chains is the probable future.