Ethereum (ETH) has been the dominant intelligent blockchain for several years. But in recent months, we have seen the emergence of several other platforms that all promise to take this market from Ethereum.
Their main selling point is always scalability, and transaction speed. This may create the impression that Ethereum will lose its dominant position. However, a deeper analysis reveals that this is not as easy as many people want to believe.
In fact, in the next few years, Ethereum can really dominate the platform market, and become the backbone of a decentralized Internet. If you doubt it, look at some of the reasons that put Ethereum way ahead of the pack.
- First, Ethereum has a large and growing network of developers. Today, Ethereum (ETH) has more than 250,000 developers in its network, and that number is growing day by day. This is an advantage for Ethereum because with a large number of developers, the number of Dapps made on Ethereum blockchain will also continue to be high, and a large number of them are guaranteed to change the world. This success will attract more developers into the Ethereum blockchain that widened the Ethereum scope in the Dapps room.
There are many Dapps platforms that may be faster and more scalable than Ethereum (ETH) but without this feedback loop, it is impossible for them to eclipse Ethereum. In fact, many will lack developers in the long run, and die from the market.
Just how the real world works. In many cases, it is dominance, not an important technical advance in the market. Just as there are many small smartphone companies that make smartphones better than Apple and Samsung, but no one cares about them. The dominant position of these two giants ensures that no one will buy the other.
- Secondly, most other platforms that market themselves as Ethereum killers also have flaws. The blockchain ecosystem is so young that it would be naive to think that there is a perfect platform. If most of them are tested on the Ethereum scale, they will be destroyed.
The reason why Ethereum seems to lag behind the rest is because it is blunt about its shortcomings. But the Ethereum team is also very open about the solution they are working on, to solve this problem.
For example, the Ethereum team has been working on Sharding and Plasma as two possible solutions to scalability and transaction speed issues. Once this is done, Ethereum can easily kill the rest of the platform market. That's because it will solve the problem they use as a selling point, and already have a market share.
In the next few years, the platform market could be 90% Ethereum, 5% NEO, while the rest share the remaining market. Not surprisingly, Ethereum (ETH) is worth $ 3000 upwards in the near future.
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