Blockchains without development are going to end up worthless. Applications also need to apply sound business principles if they want to be successful.
In this video I discuss some ideas that are going to lead to both DApp and blockchain success.
▶️ 3Speak
Some are putting premium on hashrate, highlighting security, yet for blockchains other than BTC it seems a sound axiom.
[Update : After watching clip we seem in agreement with regards to BTC. 😎]
Bitcoin is its own animal in a world different from everything else. It is a misnomer to everything else that is taking place in crypto and blockchain.
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We forget Bitcoin Ecosystem took many years to BUIDL.
Long term bullish on HIVE
Your current Rank (26) in the battle Arena of Holybread has granted you an Upvote of 20%
You make some very good points here @taskmaster4450 without development your right people will simply go elsewhere to get what they need and want ✅
Summary:
In this video, the speaker emphasizes the importance of having actual development and applications on a blockchain for it to hold value. He discusses how blockchains like Ethereum have a significant user base and a variety of applications built on them, which contributes to their success and value. The speaker also delves into the necessity for applications in the decentralized space to align with basic business principles and focus on engagement and growth strategies. He highlights the significance of attracting and retaining users, offering continuous innovation, and showcasing real development to ensure sustainability and success in the long term.
Detailed Article:
The video revolves around the central theme that a blockchain without any applications or developments is essentially worthless. The speaker, not just focusing on the financial aspects, stresses the critical need for tangible projects and applications built on a blockchain to confer actual value. He differentiates Bitcoin as a unique entity and touches on other blockchains like Cordano, EOS, Tron, Steam, and Hive, underscoring the importance of active development on these platforms to validate their worth.
Ethereum emerges as a standout example due to its diverse array of functionalities including ICOs, crypto kitties, NFTs, and DeFi (Decentralized Finance). The speaker credits Ethereum's success to its robust ecosystem of applications and user engagement, which have solidified its position as the second-largest cryptocurrency.
Moreover, the discussion expands to include newer entrants in the decentralized space such as oracles, emphasizing that these platforms must have a clear purpose and active development to maintain relevance and value. The speaker iterates that without user engagement and real-world applications driving traffic, even the most well-designed blockchain structures would lack significance.
Transitioning to the broader topic of applications in the decentralized world, the speaker stresses the importance of integrating sound business principles, marketing strategies, and user retention techniques. He draws parallels with the evolution of the internet, highlighting the need for continuous innovation, user engagement, and operational reliability to succeed in a competitive landscape.
Furthermore, the speaker underscores the significance of attracting and retaining users for the success of decentralized applications, citing examples like Uniswap, Sushiswap, and Maker in the DeFi space, which have effectively drawn users and funds due to their active development and user appeal.
In conclusion, the video emphasizes the long-term value of projects that focus on real development, innovation, and continuous user engagement. It provides insights into the essential components required for the sustainability and success of blockchain projects, urging creators in the decentralized space to prioritize tangible applications, user engagement strategies, and continuous innovation to thrive in the evolving landscape of blockchain technology.