Technology always starts out a little bit fragmented. However, as time passes and development takes place, systems that enable interaction between different players emerge.
For example, do you know the system you are using when you receive an e-mail? Does it matter which network this person is on? The answer is usually no. You can read an email sent from Gmail, Yahoo or a private server. The same is true for SMS. When the person receives a message, the mobile network is not important. All can communicate with each other to provide what is needed.
This is currently not the case with cryptocurrency. We see that different networks operate on their own. They do not communicate with each other. This is a challenge for large scale, maximum growth.
Therefore, we currently have a fragmented industry.
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Cripto currency is nothing more than data. This way it looks like an email or text. Nothing but data transferred from one node to another. Of course, with a blockchain, all these transfers are constantly monitored and recorded.
We can see how less effective the email would be if we could only communicate with people on the same network. What if you could only send emails to people like you on Gmail? This excludes all dedicated servers or competing email services.
Of course, this was common in the early Internet era. The basis that AOL was trying to establish was a closed system in which only people within its network could communicate.
This idea will fail, hopefully because it is unreasonable for most people. Yet in the world of crypto networks, we take it naturally.
In fact, we don't just accept this, we even go so far as to promote the idea of tribalism. People take their stand and announce how big their network is. Bitcoin maximalists are known for this, but they are far from the only ones. Now we see many Ethereum maximalists who believe that all future digital activity will be done on this chain.
When asked which chain will be used extensively in the future, my answer is simply "all". We will need the bandwidth that we all offer. It's impossible to run everything on a chain like Ethereum. No matter how much it scales, it will not be able to transfer the data we currently have, let alone what will be created in the future.
Therefore, we are looking at a situation where full capacity will be required for both bandwidth and storage.
For this to happen, we need networks to communicate with each other directly or through apps. We are beginning to see some of the projects that set out to develop their systems on different blockchains. This is crucial to future success.
The ability to trade tokens smoothly, easily, and at a low cost is vital to their mass adoption. People won't want to take the time to figure out what network each wallet applies to. This will really become an issue when tokenization becomes mainstream.
For example, suppose someone was suggested an exercise app by a friend. This is where the person can earn tokens for certain activities. It goes to Apple or Google store to download the app. It is loaded and the person is ready to go.
Sorry, there is a problem. Before getting started, you must register. This means obtaining various keys in addition to the keys currently held. The person does this because he is a little advanced in this area.
Once activated, the person wins the tokens. What will happen now? Isn't that an icon he's familiar with? It is not traded on any major stock exchange. This is not found on Ethereum using Uniswap. It's not a BSC token either.
Therefore, our hard-working, exercising crypto advocate needs to research the blockchain he is on to see how to exchange tokens for something he values.
We can only imagine this process when dealing with traders. Go to a website that wants to buy something to see the various accepted tokens. What if this person isn't in those networks? How does he behave?
This shows how much work needs to be done in the future in order to reach a state where the cryptocurrency can actually function realistically. We will not tolerate this splintering from the Internet, but we still think it's normal in crypto.
Complexity is not an advantage when it comes to mass adoption. People do not like things that are extremely difficult to use. Therefore, the next big challenge in the crypto world is to make things a lot easier. Ease of use is a priority.
Most of the users don't care which blockchain (network) their transactions are stored on. They just want to use the application. Therefore, the idea of developing a blockchain makes little sense to me. Does anyone really care where this website (or anyone for that matter) is hosted? Of course not. This backend issue bores people.
Blockchain is inherently boring. We may not believe this because we are connecting tokens to it, so money is earned. But put that aside for a moment and how interesting things are.
Consider the basics of Hive versus Ethereum. How much will a second transaction turn you on? Are you excited to think about block sizes? What will be the total traffic for a day? Let's not forget the amount of memory to run different nodes.
I don't know about you, but I can restrain myself. These are things that will show up at the dinner table with the family. Hours can be spent talking in depth.
Of course, there are some that this appeals to. But most people don't care. Nor are they interested in protocols or anything else of that kind. Trying to spread this idea is wrong from the outset.
People only care what they use and what is in it for them. They download an app, game or go to a specific website and want to interact. Everything that happens in the backend is not about them. They just care about how it works.
Therefore, we will see that the entire industry needs to focus on interoperability. Those who do not stay will not be left on an island on their own. Just as AOL should abandon the idea of creating its own isolated system where everyone is locked out, the same is true for the crypto world.
Apart from developers, the focus of branding should be what users are interested in. This is the apps. Those who build a brand that allows people to interact on networks they see fit will have a wider appeal. Social assistance can come from here.
To achieve this goal, we need to consider interoperability. It is vital to enable cross-chain interaction. There is no reason why these networks cannot coexist. Actually, they have to. There is no way to scale to the level of mass adoption with fragmented systems.
It is the key to the future of crypto.
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