BitShares and Steemit both sit on independent Graphene blockchain platforms and hope to attract other applications and businesses to build blockchain summit 2016 cheers their platforms. Yet BitShares and Steemit are themselves not sharing the same platform! They have apparently sacrificed the mind-blowing benefits I'm about to describe for other, more compelling reasons. PeerTracks and PeerPlays did the same thing.
I feel like a surfer left in mid-air without a wave. This is a update of an article I wrote in preparation for the Shanghai Blockchain Summit but didn't actually publish on BitSharestalk. At the summit, I was making the case to an auditorium full of people that we should be trying to blockchain summit 2016 cheers platforms rather than following the current practice of proliferating a new one for each project.
Here's the case I made back in that early Cyrptozoic Era - about a year ago. My point was that application developers should consider "surfing" from platform to platform as the technology improves rather that locking their applications forever into a increasingly obsolete technology chosen at the time they launched. This was, of course, cryptoheresy. Nevertheless, I boldly suggested it during a panel discussion at that Shanghai Blockchain Summit in October We were each given the chance to end the panel with one powerful thought.
The article that follows elaborates on the details, but here is the transcript of the brief recorded answer I made up on the spot:. The number of economic interactions that can happen, the economic friction is so much lower inside an economic environment that has been put together.
If you insist that each coin is going to sit on its own blockchain, every asset has to have its own blockchain, then you have lots of overhead, like traveling between islands to do business. I like the idea of different cities with different rules, to do business in the one that suits where you want to be, but move your independent coins onto the best platform where you can do lots of economic interactions with them.
Stellar started as a Ripple clone, developed its own platform and then jumped to it. Muse surfed from a BitShares hosted asset to its own Graphene chain. Even Steemit started out as, eew, Proof of Work before a pre-planned jump to Graphene. It seems many of the leading developers are getting jumpy! Early coins were synonymous with the platforms they were built upon. In fact, some coins only came into existence blockchain summit 2016 cheers they were trying to offer a better platform.
But, most altcoins simply cloned an existing platform and focused on their real mission:. Attract a new demographic community to a brand based on a common philosophy, technology, developer, blockchain summit 2016 cheers meme.
Most such coins are imminently upgradable to better technology without losing what really matters — the brand and community that grew up around them. Coins like Dogecoin ought to be leading this imminent megatrend. Blockchain summit 2016 cheers reasons its community loves it have little to do with the platform on which it resides. It ought to always be able to claim the very best technology and the most cost-effective performance because it has no particular technical axe to grind.
The only barrier is inertia. And perhaps a dozen other things. And before our very eyes, that inertia is evaporating. Everybody will be looking to use a platform upgrade as an easy way to move up the totem pole at coinmarketcap. On many platforms you can launch a new coin in less than one hour and immediately have it listed on multiple exchanges with a rich set of on and off ramps already in place for you.
Any coin can upgrade. This is exactly what we did for BitShares one year ago. Given the Darwinian imperative of remaining competitive, applications should always be evaluating blockchain summit 2016 cheers choice of platform. Some of the top considerations are cost-effectiveness a function of speed, bandwidth, operating costsnetwork effect the number of users a platform has and reduced economic friction the ease of doing business with other players.
Erecting a separate platform for each new asset is like isolating your business on its own deserted island. Of course, if your business is popular and unique enough, it may be worthwhile for people to "fly out to your island" to interact with you. The associated delays, costs and limited local interactions blockchain summit 2016 cheers what opportunities you can profitably pursue. This is the same reason car dealers, restaurants, and high-tech firms tend to cluster together with their competitors and suppliers to attract customers.
Choosing a crypto platform is like choosing the city or blockchain summit 2016 cheers that will best support your business. Ethereum offers an environment that will attract developers to populate its ecosystem with innovative applications.
It might be viewed as the "Silicon Valley" of blockchain ecosystems. Muse, a platform supporting custom coins for every artist, athlete, and political celebrity, offers an ecosystem more like Hollywood.
I wonder what city Blockchain summit 2016 cheers might be most like. For what demographic does Steemit need to provide low-friction interactions? So we are looking for platforms that are designed to be general-purpose ecosystems that support frictionless economic interactions between many complementary and competing players. Early platforms only needed to support the needs of a single currency. There was no thought given to facilitating efficient interactions with other products and services.
Most coins relied on external privately owned exchanges for that purpose. But proprietary stovepipe exchanges are themselves islands, with their own barriers to blockchain summit 2016 cheers between them and their own internal regulatory and security friction. The best economic platforms, whether cities or block chains, are designed to minimize this friction. They provide instant access to common services and infrastructure that can take years to build out on your own island.
They provide instant teaming with other service providers without having to negotiate individual deals. Each new arrival enriches the set of services and products available for everyone else to build on. Blockchain based platforms designed to do the accounting ledgers for many assets and applications at the same time can be thought of as many chains woven together into one compound chain. Counterparty-free atomic cross-application trading is built in!
You do if you want to share that resource with a blockchain summit 2016 cheers of other people — which is the whole point of moving to the Big City in the first place. You also want to be on a fast platform so that a lot of other applications can join you there. In particular, so that applications that do need speed can thrive while serving you. A good example is day traders. They need the fastest possible trading times so they can blockchain summit 2016 cheers their specialized knowledge and blockchain summit 2016 cheers.
They will gravitate to the fastest platforms and, in turn, will generate the liquidity, market depth and blockchain summit 2016 cheers services that your application probably does need.
Each platform will give your application blockchain summit 2016 cheers wealth blockchain summit 2016 cheers new features for free. Each platform will have its own set of features you can inherit to make your own project more successful. Bonus Picture - xeroc and stan with our gracious hosts from the DacPlay. Previous in the Series: I believe that it blockchain summit 2016 cheers that it was too advanced for the time and is waiting for the right time to resurface.
Again, a great write up stan! The article that follows elaborates on the details, but here is the transcript of the brief recorded answer I made up on the spot: But, most altcoins simply cloned an existing platform and focused on their real mission: The Benefits On many platforms you can launch a new coin in less than one hour and immediately have it listed on multiple exchanges with a rich set of on and off ramps already in place for you.
The BitShares Team contemplates their coming Pitch Fork Even so, why should established applications bother to make the jump?
Choosing your ideal economic platform. Speed is only one reason to upgrade. That, my friends, is a great reason to watch diligently for my next post! Authors get paid when people like you upvote their post. I think steem can be represented by Atlantis. Full of brilliant minds, dreamers and artists. Some think the city fell into the ocean and was destroyed. I should have saved pages of text and just said that!
OMG exactly what I have been trying to say for years. Great and interesting as usuaul Stan.
We waren goed op weg maar dat schrikt mensen altijd een beetje af, waardoor er veel wordt verkocht, Dit is ook meteen een prima argument voor technical analysis. It contains peaks and dips, which mark the highs and lows, often called local extremum. Stick to your system of entry and stops religiously.