Odaily Frontline | "Horizontal competition" is over, and the era of "vertical construction" is coming?

Azuma

Odaily资深作者

@azuma_eth

2019-12-25 09:05 (UTC+8)

This article is about 912 words, reading the full article takes about 2 minutes

"2020 will usher in the fifth era of cryptocurrency."

AI Summary

Expand

"2020 will usher in the fifth era of cryptocurrency."

This article comes fromBitcoinist, original author: Emilio Janus

Odaily Translator |

Spencer Bogart, a partner at blockchain venture capital firm Blockchain Capital, recently accepted an interview with Bloomberg to discuss his predictions for the development of Bitcoin in 2020. While Bogart didn't specifically mention whether the price of BTC will rise, it seems to be something to look forward to according to his theory.

In 2020, one of the most critical industry predictions given by Bogart is that the era of "vertical construction" is coming.

Over the past few years, the crypto industry has been dominated by ICOs and horizontal competition. There is a realization that open, public, permissionless blockchains are the real driver of innovation in this space, not the private enterprise blockchains that were buzzing about in 2014-2016. One of the results of this awareness has been the emergence of many, many competing blockchain platforms, all of which aspire to be versions 3.0 or 4.0 of Bitcoin. A few such platforms have been released, but they haven't attracted much attention from developers.

Instead, investors and developers have turned their attention back to networks such as bitcoin and ethereum that have been operating stably for years.

Some recent research suggests that the Ethereum network has reclaimed its crown as the premier ecosystem for distributed applications (dApps). A year ago, newcomers such as EOS and Tron were poised to take the throne from Ethereum.

Thus, in this era of "vertical building," we will see more and more utility applications built on top of the Bitcoin and Ethereum networks as developers continue to build the protocols involved.

As for Libra, Bogart believes that it is still a legacy of the era of "horizontal competition". But at the same time, Bogart also said that if anyone can create a platform to compete with Bitcoin and Ethereum, it is likely to be a company like Facebook.

Bogart also hinted that Libra might succeed in securing a license from U.S. authorities to compete with central bank digital currency pioneers.

According to Bogart and Blockchain Capital, 2020 will usher in the fifth era of Bitcoin and cryptocurrencies. The specific time distribution is as follows:
2009 - 2011: Bitcoin will not succeed
2012-2013: Tulip Bubbles and Criminals
2014 - 2016: Blockchain, not Bitcoin
2020 - >2017 - 2019: Horizontal competition

: vertical construction