The development of blockchain has been going on for more than ten years. In the past ten years, countless cryptocurrencies have been on the stage and continue to introducing new products. And this time in 2021 The bull market is different. Public chain projects are no longer what people thought of as sweet pastries, but ecological applications have become the focus of everyone's attention.
Introduction to public chain development
Public chains are public blockchain projects. From our common Bitcoin and Litecoin to the current Ethereum , eos , Polkadot, etc., all belong to the category of public chains. Public chains generally have the following characteristics:
1. Account system
2. Block production system
3. Chain structure
4. Incentive mechanism
For public chains like Ethereum, a certain application ecosystem is also needed. In recent years, application ecology has become a key point of the public chain. Many public chain projects have built corresponding ecological applications and systems, and the above four characteristics have gradually been underestimated. This also makes many people think that public chains should have dapp applications.
Of course, this mentality is mainly because the application of blockchain technology has attracted the attention of many Internet companies in the past few years. Therefore, whether it is a public chain or a consortium chain, they have begun to talk about the application of blockchain to the Internet ecology. For projects such as Bitcoin, the advantages may be much smaller, but the current top projects, basically have ecological applications to support its value.
Public chain bottlenecks caused by ecological applications
Because public chains like Ethereum can only develop their ecosystems under the breeding of pragmatism, it is like trees forming forests, which is theoretically possible, but public chain are free due to their uniqueness, so that is why they lead to the current ecological application development to a certain extent.
For example, when DEFI became popular, the handling fee on the chain was very expensive. This phenomenon is similar to the problem that the forest border problem causes the density of vegetation to increase to a certain extent and cannot be expanded. Therefore, this also leads to the occurrence of contradictions.
The resource problem is difficult to solve at one time. Now, we are more concerned about the main side chain, layer2, and shard expansion schemes.
From the current development situation, technical applications such as layer2 and sidechains can relatively meet the short-term resource shortage problem. In the long-term, we can also expect that the sharding-based ETH2.0 will make more applications can be built on mainstream public chains like Ethereum.
Not only that, but technologies such as the slots used in Polkadot can also successfully implement large-scale application deployment, so that more users can smoothly use ecological applications and ensure that their assets flow smoothly on the blockchain.
The expansion and development of mainstream public chains lead to a reduction in the living space of other public chains
Although the ecological development of mainstream public chains like Ethereum is very fast, and the expansion plan can also attract a lot of resources, for other public chains, they may be in dire straits now. We all know that the ecology of many application is actually difficult to develop. On the one hand, the popularity of such public chain projects is not particularly high, so the corresponding project funds will be relatively small, so it is difficult to attract a large number of outstanding development talents. On the other hand, if there are no developers to build ecological applications on this type of public chain, and no users to use this public chain, it will be difficult to attract funds, and the currency price will fall, and finally the development of the public chain will go downhill, which will eventually make it difficult to attract funds.
Under this circumstance, if the public chains do not change themselves, then it will bring them to zero position.
How can other declining public chains save themselves
For other public chains, self-help is the first thing to consider. We all know that although technology is very important in blockchain , the wealth accumulation effect is even more important. Zil technology was very good before , now almost no one is interested, and now many people do not know it is valid, BTS is the first implementation defi of Public chain projects, and now the currency price has hardly changed. Many public chains have contributed ideas and solution in the blockchain field.
In fact, many of the reasons are that they are complacent about the technology they have and don't know how to follow the trend, so they have lost a lot of opportunities to redeem themselves. Then how can other public chains save themselves?
Here we believe that public chain projects should not be complacent with their own unique technology, but should walk in with well-known projects. For example, we all know heco and BSC. Many people say that they are Ethereum competitor, but it is precisely because of Ethereum defi ecological problems that they have development opportunities. For more EVM public chains, they do not even have a chance to enjoy wealth because they do not recognize the reality, which is the reason why they are difficult to develop.
