Interesting thread! Thoughts:
1. Most usage for all crypto today is value tx due to speculation. Same for $BTC as for $ETH.
2. Value tx is a use case! Expecting early SC platforms w/out mature dapps to have dapp users is like asking why LN isn't being used yet for payments?
1. Most usage for all crypto today is value tx due to speculation. Same for $BTC as for $ETH.
2. Value tx is a use case! Expecting early SC platforms w/out mature dapps to have dapp users is like asking why LN isn't being used yet for payments?
3. On-chain tx vol has dropped likely b/c of chilled ICO environment (+ market crash). Can't ignore the broader market contexts.
4. "Next few months" are likely meaningless in terms of competition. New chains need to launch, attract devs, launch apps, etc. Next 12+ months maybe?
4. "Next few months" are likely meaningless in terms of competition. New chains need to launch, attract devs, launch apps, etc. Next 12+ months maybe?
5. Indeed, capital raise as a use case will see swifter competition but network effects, security, trust, token standardization, liquidity (fiat pairs) are still barriers that may not be easily overcome.
6. The race for scaling is indeed on. In Ethereum's case, many dapps can utilize L2 solutions and still benefit from L1 security. These L2 solutions should emerge in next 6 months.
7. The first wave of dapps are simple games that take little effort to dev (hence they came first) but guzzle gas. I recently showed how tx are getting "fatter" which speaks to this increased usage of gas-guzzling contracts ().
8. In a resource-constrained environment, these games will either lose users or be incentivized to write "slimmer" contracts or use L2 solutions until sharding. While it's not ideal that Ethereum is near capacity, that's the current state of decentralized blockchain systems.
9. Wasn't the "mixer" just an exchange? @nic__carter
