“The blockchain ecosystem is not a killer application, but a killer network”
On October 27th, the 6th Blockchain Global Summit hosted by Wanxiang Blockchain was held in Shanghai.
This can be regarded as the biggest conference in the blockchain industry this year. Therefore, not only is there a large number of participants, but also many guests, and the guests gathered the leaders of several major projects in the circle, including the founders of Ethereum V God, Bo Card founder Gavin Wood, Filecoin founder Juan, etc.
These project leaders expressed their views on the development of the blockchain industry on the one hand, and also detailed their views on their respective projects. Listening directly to the founder’s statement on the project can help you understand the project more intuitively.
Among these guests, I am most concerned about God V’s speech. Two points in his speech impressed me:
The second is that the blockchain ecosystem is not a killer application, but a killer network.
To say that Ethereum has now become an ecosystem means that there are now various basic components, various technical architectures, and various token standards in the Ethereum system.
This is like a forest. It has fertile soil and breeds all kinds of plants. These plants attract all kinds of herbivores. The herbivores attract carnivores. After the animals decompose naturally, they nourish a large number of microorganisms, and the microorganisms promote The richness of the soil.
The continuous development of such a positive cycle of ecology and the formation of a virtuous cycle will make this ecology more and more vigorous and dynamic. If we look at any of them alone, we would find it inconspicuous, but when combined, they will form a powerful aura.
The ecology of Ethereum is like this. Its token standard (ERC-20, 721, 1155, etc.), its second-layer expansion (state channel, Rollup), its DeFi, its oracles, etc. are its rich ecological Various components. These components are linked to each other, and new components will be spawned while developing by themselves.
When we compare other public chain ecology with Ethereum, we always find two phenomena:
Sometimes even if new applications and new signs are generated in other public chains, they just cannot continue to grow and scale.
The recent DeFi is a typical example. Since this time, the DeFi project seems to be completely cold, and the DeFi projects in other public chain ecosystems have basically been out of touch. However, we see that the amount of DeFi projects in the Ethereum ecosystem is still being locked. Increased, and some new projects that have attracted much attention have emerged. This is the most typical embodiment of the continuous ecological vitality of Ethereum.
Why is it so? Because other public chains do not have the soil and conditions for these projects to continue to grow, and they do not have the conditions to breed original projects. Therefore, the ecology of other public chains always seems to be missing something, and it seems that it can only copy Ethereum but always cannot catch up with Ethereum.
Many of the top projects in the Ethereum ecosystem have open source codes, uncomplicated business logic, and technically not too mysterious, but why are the imitations of these projects still not warm in other public chains? fire? This is probably what V God said, “The blockchain ecosystem is not a killer application, but a killer network”-the Ethereum network has enabled some projects to create market effects.
Many readers often ask me how some other public chains are. They don’t understand why I say Ethereum is the king of public chains. The fundamental reason is that they don’t understand the power of the Ethereum ecosystem. This powerful ecology is the core of Ethereum’s standing firm and having survived many death tests.