Emerging Technologies: The Key to Public Chain Success

9 Sept 2023

Since the birth of Bitcoin, many challengers have emerged in the public chain field. After Ethereum established its second position, many projects even shouted the slogan "Ethereum Killer". How public chains can succeed has become a matter of great concern. Although many answers have been proposed, such as adopting advanced technology, innovating existing public chains, improving performance, and attracting more users, subsequent challengers always seem to be slightly deficient in some aspects. So far, there is no public chain It can successfully secure the third position in the public chain, let alone surpass Ethereum. So what is a more feasible approach for public chains?

Technological innovation offsets first-mover advantage

Latecomers can offset first-mover advantages by adopting emerging technologies. However, technological innovation does not happen overnight. Many challengers have made certain breakthroughs in technology, but have still not been able to truly surpass Ethereum. This also shows that technological innovation is not the only key factor. In addition to technological innovation, factors such as ecological construction and application scenarios also need to be considered to meet the actual needs of users. To avoid falling into a situation where the vision is high but the goal is low, ICP must be mentioned here. As a "world computer" when it first debuted, it still has not been able to get out of the quagmire of innovative technology.

Low threshold and user experience

The efficient operation of the public chain and the low-threshold Internet experience are important factors in attracting users. However, the high performance and user experience of public chains are not simple and feasible goals. Many challengers face challenges in security, decentralization and other aspects while pursuing high performance. Therefore, public chains need to find a balance between performance and security, and provide a simple and easy-to-use user interface to attract a wider user group. In the last bull market, many computer room chains were launched in pursuit of higher performance. As the market cooled down, people once again discovered why they would not choose Internet products if they only looked at performance regardless of security and decentralization. Computer room chains also gradually lost ground.

Capital support and ecological construction

Capital support is an important guarantee for the development of public chains. Many challengers received capital support in the early stages, but lacked sustained capital injection and ecological construction, resulting in sluggish development. Public chains need to establish a sound capital support system to attract more investors and partners to participate. At the same time, we must focus on ecological construction, cultivate application scenarios, and increase the actual use and user stickiness of the public chain.

only way

The only way for a public chain to achieve 100-fold success is not simple. It requires comprehensive consideration of technological innovation, lower thresholds, capital support and other aspects. We can draw some lessons from failures: technological innovation needs to be combined with ecological construction to meet actual needs; a balance must be found between performance, security and user experience; a sustainable capital support system and good ecological construction must be .

Taking Nervos $CKB as an example, the layered design has good interoperability and has certain support for technological innovation. In order to avoid the project falling into the "ICP trap" due to these technical advantages, more foundations must be built. Developers understand and master it so that the technology can be better transformed into a visible and tangible experience for users. In addition to being attracted by the technology of the public chain itself, developers are more focused on capital support and ecological construction. Without capital support and overall ecological effects, it is difficult to support only a small number of developers. In the end, it is low threshold and user experience. Now Many projects have begun to explore low thresholds, but it is easy to ignore user experience. Low thresholds do not mean good user experience. Good user experience is inseparable from complete ecological effects. A simple low threshold has no decisive significance for the entire ecosystem.

The challenges faced by Nervos are also the challenges faced by most public chains. How to better solve these problems? First, convert its unique advantages into technologies that are truly available to ordinary developers, and strongly support more developers to use unique technologies. Secondly, we will continue to improve the infrastructure throughout the process, such as more wallet entrances (to support users to conveniently manage all assets on the chain and interact smoothly with on-chain contracts), and more easy-to-use token standards (to allow ecological developers to Easily issue assets, easily deploy and issue external stablecoins), and finally continue to build to attract more capital to form a sustainable development system.

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Emerging tech like A.I is one to add here
I article appears to be shilling Nervos
Great article to save for later
The discussion on performance, security, and user experience is definitely one of the most important parts of the article. It highlights the delicate balance that must be struck between these factors in order to make blockchain technology truly successful. Your ability to synthesize complex topics is really commendable. I'm wondering, have you worked in the blockchain space, or is this all just a hobby for you?
The success of each project may depend on various factors, and there is no one-size-fits-all solution. Each project must carefully consider its unique circumstances and challenges to chart its path to success in the blockchain space.
Blog BIT
The notion of "Ethereum Killer" has been a buzzword, but this piece rightly emphasizes that success requires more than just technological innovation. Factors like ecosystem development, user experience, and capital support are equally vital. It's a stark reminder that innovation alone isn't enough in the blockchain space.
Emerging technologies are like puzzle pieces coming together to shape the future of public chains. It's a captivating journey to witness!
Interesting article to captivate tech savvy people
Blockchain is the most emerging technologies so far