The cryptocurrency space is often distorted and the countless projects are striving to strike a balance between all conflicting features of scalability and decentralization under a secure environment.
As a new network, it is still early for smartBCH.
Any beginning is difficult especially when competition is fierce. With time and maturity, the smartBCH network will overcome any difficulties.
We are all well aware that Decentralized Exchanges (DEXs) originate in the Ethereum blockchain.
The first DEX approach was similar to centralized exchanges. DEXs like Etherdelta and Forkdelta offered just the simple approach of listing a buy/sell order to an ERC20 token or filling existing orders in a decentralized environment.
DeFi was a term that appeared sometime in 2018. It was not just another catchy term as many thought, though. After the ICO fiasco, the crypto community was reacting to every new term with suspicion.
Yet DeFi and DEXs evolved and reached a popularity deserved for this financial technology.
Certainly, smartBCH is not advertised as much as other networks, but this is not about short-term promises, instead, it is a project working together with Bitcoin Cash with a long-term vision.
SmartBCH With Time Will Deliver
SmartBCH has growth and a modest adoption and eventually the big players will join. There is simply too much competition today and investing ignorance. And there is a certain marketing machine working towards "pumping" selected cryptocurrencies fitting the goals and attention of a few certain individuals in this field.
Numerous Ethereum clones exist today and they are all competing and marketed as the next Ethereum-killer. Yet, from the current top-20, excluding BTC, ETH, and the stablecoins, I'd be surprised if the rest projects will be around after 3-5 years.
This hype will not last as the previous one in 2017 didn't.
We watch today the hype with Cardano, Polkadot, Luna, Avalance and Solana, yet it was the same in 2017 with Tron, EOS, XVG, IOTA, and many more. Maybe some of these projects will succeed and still need more time. Innovation is important, yet, the aforementioned projects have delivered too little so far to be considered a priority to investors.
DeFi only started exploding in 2019-2020 when the first interesting developments were getting ready and only attracting a small crowd. Ethereum was not suffering from high fees and network congestion at that point yet it was only a handful of people using it. At certain times even transactions with 0.5 gwei would be mined and broadcasted within minutes.
NFTs were there too, since 2017. It was the first moment of realization on the scalability issues of Ethereum. Cryptokitties crashed the Ethereum network at this initial phase of NFTs.
It took years for the NFT field to expand again. Interest in Crypto Kitties was lost even before the 2017 bull run ended.
Bitcoin Cash is currently losing in the trade against BTC. An interesting fact is a chart that is bearish for almost two year. Meanwhile contrary to the charts, adoption of Bitcoin Cash is growing rapidly.
SmartBCH can reverse this trend, yet it needs time and also needs a different approach on tokenization purpose and utility. Ethereum was not just ERC20 tokens, but various projects migrated later to their blockchain EOS, Tron, BNB are some examples. There were projects with a vision, even if some lost it later on.
In Conclusion
In Bitcoin Cash for the most part, the community is result-oriented and driven towards mass adoption. Certainly exposure and marketing are important in terms of explaining the advantages of smartBCH but it also requires a professional approach.
The long term effects of maximizing adoption efforts and watching the userbase increase will eventually increase demand.
Between 2014 and 2016 the Bitcoin community was at a terrible state. Merchant adoption was increasing but at the same time discouraged by the part of the community that didn't want Bitcoin to scale.
It is way different today with Bitcoin Cash, although there is also a constant PR war by the BTC maximalists that usually get all the attention.
Bitcoin Cash needs certain people, and it has a few of the highest quality. It needs to stay relevant and there are many helping today. If 10% stays it is still fine, yet, I don't think anyone is not observing the potential.
It needs more time to persuade the market and we are all doing our part one way or another to secure its competitiveness. The point is not to get discouraged during difficult times, as well as keep our feet on the ground when price action is favorable to Bitcoin Cash.
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I maybe late, into this. But surely I dont regret entering.