Ethereum creator predicts indistinguishable chains will ‘get ignored and fail’
Have you heard the latest news and statement from Buterin related to new blockchain chains, he warned that new blockchain chains will likely fail if they don’t offer something unique to users.
According to Buterin, emerging chains should put more focus on meeting the needs of the average user and work towards enacting a fresh philosophy into the crypto sector, he said during an Ethereum Ask Me Anything (AMA) session on Reddit.
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Remember when in December, Buterin also pointed out that the focus of the crypto space should be on developing the underlying technology and not the price at a time the market was battling extended sell-offs?
I must fully agree since blockchain is quickly overtaking other technologies in popularity, we use it in many of our daily activities. Additionally, there are projects that use blockchain in ways that have a significant positive impact on the environment, such as project Elan Future or some eco-friendly cryptocurrencies like SolarCoin or Powerledger.
Buterin's remarks are consistent with his earlier beliefs, stating that the industry needs time to develop if widespread adoption of cryptocurrencies is to be achieved. This comes as experts in the field predict that when new projects are introduced, the market will see a collapse akin to the dot-com bubble before maturation can take place.