DeFi chains everywhere.

One of the things that I have noticed is that many altcoins are implementing or are in the process of creating an intelligent contract network, also known as DeFi. Pretty much, they are just trying to compete with the Ethereum network. And Bitcoin Core BTC is part of that group with the sidechain rootstock RSK and Bitcoin Cash BCH with Smart Bitcoin Cash SmartBCH.

I find it very weird that now every other altcoin wants to have its smart contract address that at the very least does exactly what Ethereum does, and many are saying that their networks are the ETH killer that you were waiting for. Many altcoins take into the equation the fact that GAS fees in the Ethereum network are indeed expensive, and a simple transaction costs over $20 for a trade. And now, even the big daddy is doing the same Bitcoin is pretty much implementing smart contracts but with a sidechain.

In the case of RSK, the fees are high because the price of Bitcoin is high, and also most complicated transactions are at least 0.0002BTC, which is a lot of money, at least against dollars or if you compare the cost to dollars. In SmartBCH, the transaction fees are not that cheap right now because I have seen transactions that cost at least 0.0001BCH, and it only feels cheap because Bitcoin Cash against the dollar is cheap but in terms of satoshis, not so much. But at least with SmartBCH, you hope that the smart chain developers will work to lower the fees in terms of satoshis in the future. In the case of RSK, since regular Bitcoin transactions are already high, you won't hear anyone complaining and will embrace such fees, saying that is a sign that the network is being used and, as such, the costs are justified. I guess you will see Lightning Network for the sidechain in the future once fees are high enough. Lightnin Network on a sidechain.

And yet the thing I don't like is that at this point, sidechains are only trying to have compatibility with ETH EVM, but I don't see innovation; pretty much what I am saying is that the only thing I see is copy and paste of how the Ethereum network works. Hopefully, since most altcoins smart contracts networks use a copy of ETH EVM, integration between coins will be much easier. As such, innovation could come across all networks because they are all copies of each other. Hopefully, this will make it easier to run bridges to link all networks and make one extensive network out of all. Or it could be that in the end, only one survives, and only one ends up taking all the investments and innovations.

Bitcoin RSK took what Ethereum does and has implemented it into its sidechain. RSK has compatibility with all EVM networks, which means you can link SmartBCH with Ethereum and RSK the three simultaneously. That could give; as a result, a super-independent web with bridges and technologies not invented yet once you join them. But the other scenario could be that RSK eats ETH marketcap, and all other smart contract networks pretty much become just one single coin to rule them all, which will be a Bitcoin maximalist wet-dream.

Conclusion.

The next innovation will be to integrate all networks, form a new super network, or destroy almost all competition for just financial supremacy. And I would add that a super DeFi network composed of many networks will be more decentralized than just one network with big money. But in the meantime, all EVM compatible networks look like they are copying each other and trying to beat one over the other.