The collapse of Coinlist led to the strategy and situation analysis of public chain competition

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The story structure of this article:

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• Introduction: Anxiety on the phone and the reality of financial integration

• today's situation

  EOS

  DFN

  COSMOS、Polkadot

  Harmony、Near、Elrond

• The Appearance of the Killer

  Competitive Strategy Analysis

  Situation: The timing, location, and harmony of the killer

  Ethereum's Coping Strategies

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At 10:46 last night, my friend called me and asked me to go online to see coinlist.co. After I went online, my mobile phone page displayed 502, which is the legendary downtime.

I didn’t take a screenshot last night, but I only remember the three numbers 502. The above picture is a schematic diagram from the Internet.

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This conversation leads us to think about the current form of the public chain today, what will the pattern of tomorrow be like?

I know that Coinlist, Filecoin’s official team Protocol Labs is an ICO crowdfunding platform cooperating with others. It is rumored that the audit project is very strict, which is convenient for the public to participate in ICO. Understand it as: encrypted asset crowdfunding platform.

I know Near Protocol, among the founders is Wu Monk Yilong (of course it’s a joke, people’s names don’t have the prefix “Monk”, but I remember it as this, Illia Yilong), there’s Alex, they’re all in Near.ai I have worked, and my academic work background is probably related to the sharding database MemSQL company and Google's distributed machine learning system.

I started today with a conversation, talking about Yilong in a joking tone, and describing the legendary three sharding supernovas of Near Protocol in vague language: Harmony, Near, and Elrond. These are (parts of) the promised land for the new leeks in the future.

Why do you write like this? Because this article is not here. Today, this article does not do technical analysis, nor does it explain economic models, nor does it describe in too much detail the time and events of the coinlist crash. If you don’t understand the pictures and academic knowledge involved in this article or feel bored, you can skip it directly—those are just shredded cucumbers next to Peking duck, the side dish of this article.

The picture above is from the Internet, it probably looks like a Beijing roast duck

today's situation

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The picture above is from DeFi Pulse, just observe the content in the red box

The DeFi application ecosystem is almost entirely built on ETH (from a mathematical point of view, under the current circumstances, "almost" can be removed). The second position of Ethereum is stable again, and it has the momentum of a big leap forward.

The market has been conquered by Ethereum, so he develops silently, like an expert in the world, shouting "I want to earn PoS, no need to mine" every year, which makes miners nervous every year, shouting slogans like this every year, over time, everyone has formed a habit : Focus on his technology, his community, and his applications. On the contrary, every time the plan is postponed, everyone takes it for granted. Now that DeFi has exploded, in order to stabilize the current situation, the most effective competitive strategy is: take your time. I speculate that there is a high probability that the plan will be pushed again, and there is no need to watch the news.

Various public chains are eyeing ETH, because the Iron Throne is the competition of Bitcoin. People ridicule, so the "one super, many strong" structure is what everyone desires, and they also hope that they can completely defeat the second child and ascend to the throne by themselves-driven by profit and in the name of faith.

Note: Competitive strategies appearing here are keywords and will appear again below. "Where soldiers meet in narrow alleys, murder is like grass and no sound is heard." Competition in any market requires strategies. The encryption market has never been a calm lake, but a raging sea.

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• EOS

The Appearance of the Killer

• Dfinity

EOS came out, with great scalability, sacrificing partial decentralization, and 21 nodes jointly taking the role (I know that many people disagree with this word), and all the features involved are aimed at Ethereum. BM's publicity skills, the year-long ICO and the two-way support of the cx circle of a big country's capital market have allowed EOS to fly for a long time. Both have achieved great results.

Later, in 2018, I had dinner with my buddy from the Department of Computer Science at the University of Waterloo. He was the founder of a community management company that was famous in North America in 2017. ), he said that when his senior (Vitalik) and he got together, he said that Dfinity might become an opponent of ETH.

Remarks: The content of this conversation is personal experience. If the editor of the platform thinks it is inappropriate, you can remove all the names of the people and companies, without affecting the reader's understanding of the logic of the full text. Note that this sentence does not need to be removed.

Since that meal in 2018, I have been paying attention to DFN. I checked that Difinity claims to be infinitely scalable.

For a period of time, there was no difference in the limelight. You can feel the enthusiasm of the year by searching how much money was invested by the agent who wanted to invest in him in the country. Everyone knows the later story. Their boss may be free because he has not done anything financially. He said that biomedical research is his true love, and he went to study biology. Friends in the industry jokingly called this matter as: "When a person has money, the next step is to live forever, so it is the right way to start a business or do a project to study how to live longer." I don't want to talk about Difinity anymore. It took no more than a year for my eyes to shine at the time, and to become blinded later.

Cross-chain duo

• Cross-chain duo

Strictly speaking, COSMOS (the token is called Atom) and Polkadot (the token is DOT) are not competitors of ETH, but they are not low on the public chain track, and they also want to replace ETH in the market value ranking. However, Mr. Gavin Wood, the author of the Ethereum Yellow Paper, came out to make Polkadot, and he may have new ideas. After all, logically speaking, as long as the future prosperity of the encrypted world is not built on a public chain, there will always be a need for cross-chain. Because of Gavin’s respected status in the industry, he took out his laptop to demonstrate how to send chains with one click at the conference when he was completely geek-like. (Search for these keywords, you should know that what I said is true When I wrote it, I relied on my own memory), coquettish operation, this is just the first wave.

In 2019 last year, the WEB3 Foundation came to China to do a China tour. They are Polkadot investors. Then I saw that their main purpose was probably to sell Polkadot shares. There are many people involved in this matter. You You can ask people from Cobo and Yuchi, you can go to Chinese IPFS mining machine manufacturers, and you can ask senior people in the industry. In 2019, in China, the DOT price of the share started at 70 US dollars, then became 80 US dollars, and then became 120- $140.

In recent days, DOT has had a gratifying rise, about 350 US dollars. In June 2020, Polkadot launched the first phase of the network, and the verification nodes were all made by an organization of the WEB3 Foundation—do you smell something special? The time is not ripe, you can understand, what can't you understand in the encrypted world. As long as the currency price rises, all doubters will shut up.

The development of COSMOS seems to be beautiful. Friends who know some of their technology changes and the work of the founders should know that their development has not actually made a substantial breakthrough, and the community is okay. I have a good relationship with some large domestic exchanges and have technical cooperation. I still think their technical support is very important-I don’t think so.

The current solution to the cross-chain problem is mainly to map the latter to be called a trusted gateway or a relay node, etc. What I am talking about now is just a primary school student: asset cross-chain. Data cross-chain dare to ask, who can do it now? Who can do it this year?

• Sharding Three Stars: Harmony, Near, Elrond

It can be seen on the Internet that their sharding strategy is different from that of ETH, and they are both new stars and new Ethereum killers. Even sharding has the same taste. Then tell everyone that this is a different formula. Although it smells like it, our advantages are: scalable, fast, and we will catch up from behind.

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Near raised funds last night, Coinlist went down, and a large number of retail investors rationally poured in. I suddenly discovered that proxy investment is really a good business. It was a good business in 2017, and it started to become a good business again this time this year. It’s just that this business is cyclical. You usually eat hot pot and sing songs to maintain good relationships and resources in the industry. When the market is crazy, you just come out to help everyone invest. Blame the project for the loss, thank you for the profit.

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• competitive strategy

The killer's timing, location, people and

The term “Ethereum Killer” is actually a very funny thing, because when Ethereum falls below $100, there will be no Ethereum Killer in the market. It seems that the killers think that it is best for him to die of illness and not use his hands. .

1. Why not take advantage of the weakness of the other party and eradicate them at once? Why do killers always disappear when it's time to strike?

2. When Ethereum is not working, the killers themselves are also seriously injured, and most of the project funds of the killers are also raised with ETH;

3. The killers didn't really want to kill ETH at all, they just used the reputation of the killers to raise funds. "Let me tell you, I can kill the second child, and then I will be the boss besides BTC, the market potential is huge, now I need money, please join me in suffocating for the dream", and then you take out the money if it is short-term Speculation is understandable, and it is also understandable if the killers are really believed - human beings believe in stories more than logic and facts. "People have dreams, what if they come true?" (Quotes from Jack Ma)

can't do it. Neither community building, prestige, nor capital can do it. I didn't talk about technology, because technically it can't be done in most cases. It has to face the geographical advantages of Ethereum.

• Ethereum is currently developing well, and the right time, place, and people are all on his side. All project parties who promote themselves as Ethereum killers, please stop talking about yourself, and don’t lie to yourself. Your success does not come from killing Ethereum , but from your own strength, because you can't kill him.

The Tactics of the Ethereum Killers

If your project party really wants to be an Ethereum killer, then I will provide a feasible strategy here. Although it is not easy, at least your company will not be allowed to continue playing bad games.

• The competitive strategy of the Ethereum killers is: first, avoid the edge of Ethereum, break away from the DeFi battle, and open up a second battlefield; second, attract Ethereum developers to transfer to their own community for development, that is, to establish a revolutionary base behind enemy lines. Third, run in small steps and iterate quickly.

Ethereum's Coping Strategies

This is just a coping strategy. In the current strategic situation, Ethereum does not need the word "defense" at all, it just maintains a competitive advantage.

How can the first place maintain its advantage?

1. If you understand game theory or competitive strategy theory, it is easy to know that in the field of sports competition or in the field of business, as long as it involves this question in competition, basically there is only one answer: the first place imitates the second place All actions, because they have their own advantages, the second place cannot (or it is difficult) to counterattack according to the competition strategy of the first place. Unless he can really grasp the weakness of the first place.

2. Continue to expand the results of the DeFi war;

3. What other star projects do you cooperate or learn from, and use your own advantages to not give the other party room to survive;

4. If others come to your home DeFi to compete, you are welcome to directly imitate the operation of the other party. The ecological applications on ETH can do these things themselves, and you don’t need ETH to go to war, just slightly tilt your support;

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Summarize:

Summarize:

This article starts with the paralysis of the network caused by the fundraising of a project party on Coinlist last night, which leads to the thinking of Ethereum killer projects, DeFi and other fields, expounds the competition strategies of related project parties, and analyzes the current situation.

When others are crazy, we step back, see the whole picture of the story, and then judge the ending. Starting from the end result, formulate your own investment strategy in reverse.

Take a Step Back to See the Big Picture.