10-11-2021, 09:59 AM
It doesn’t matter how fast, cheap or secure your blockchain is if no one wants to
<!-- SC_OFF --><div class="md"><p>I know this is a blasphemous post to most of this sub, but give me a read before you downvote. </p> <p>I think the most underrated aspect of a crypto project is the network effect. The network effect refers to the adoption that a network has, in cryptos case it would be decentralized applications.</p> <p>A lot of people get caught up in finding the fastest or cheapest smart contract platform, but they don’t care about a platform that is actually being used. </p> <p>To put things into perspective, the average Ethereum fee has been 28$ for the last few months. That means that people want to use Ethereum so much that they are willing to pay a fucking ridiculous amount to use it.</p> <p>You’re probably thinking: “what an asshole, he’s justifying gas fees”. That is definitely not what I’m doing. Gas fees suck. But you have to admit that it really says something when people are willing to pay exorbitant amounts of money just for the privilege to use a platform. </p> <p><strong>TL;DR: Fast and cheap blockchains are great, but what matters most for a blockchain is that people want to use it.</strong></p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/roberthonker"> /u/roberthonker </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/q5jv01/it_doesnt_matter_how_fast_cheap_or_secure_your/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/q5jv01/it_doesnt_matter_how_fast_cheap_or_secure_your/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>I know this is a blasphemous post to most of this sub, but give me a read before you downvote. </p> <p>I think the most underrated aspect of a crypto project is the network effect. The network effect refers to the adoption that a network has, in cryptos case it would be decentralized applications.</p> <p>A lot of people get caught up in finding the fastest or cheapest smart contract platform, but they don’t care about a platform that is actually being used. </p> <p>To put things into perspective, the average Ethereum fee has been 28$ for the last few months. That means that people want to use Ethereum so much that they are willing to pay a fucking ridiculous amount to use it.</p> <p>You’re probably thinking: “what an asshole, he’s justifying gas fees”. That is definitely not what I’m doing. Gas fees suck. But you have to admit that it really says something when people are willing to pay exorbitant amounts of money just for the privilege to use a platform. </p> <p><strong>TL;DR: Fast and cheap blockchains are great, but what matters most for a blockchain is that people want to use it.</strong></p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/roberthonker"> /u/roberthonker </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/q5jv01/it_doesnt_matter_how_fast_cheap_or_secure_your/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/q5jv01/it_doesnt_matter_how_fast_cheap_or_secure_your/">[comments]</a></span>Kind Regards R