guide
guide"The world is bitter"Qin
This article is about why Ethereum imitators and killers have not completed their tasks. Who is most likely to replicate the Ethereum Defi story?
secondary title
Emperor Shihuang dies
The killers of Ethereum do not all have the blessing of the protagonist’s halo. There are still a few who are backed by exchanges and large institutions.
Safety
Safety
There is no absolute security, as long as there are enough benefits, the cost of launching an attack is low, the probability of success is high, and the benefits of success are large enough. It is common for public chains to be attacked.
https://hacked.slowmist.io/?c=Blockchain
image description
In fact, in my opinion, the 51% attack is the right of the blockchain, and Steem’s blocked account is also the right of the blockchain. In fact, the governance of the blockchain will never go beyond simple ethics.
Smart contracts are one of the selling points of Ethereum - the world computer. At the same time, it also exposed the fragile side of Ethereum. Non-upgradable smart contracts, smart contract developers who dare not innovate. At present, the problem that the contract itself cannot be upgraded can be solved indirectly through the Proxy contract and ENS, but it introduces new uncertainties. The project operator can replace or suspend the contract at any time, and users are not clear whether there is a problem with the contract to be upgraded. Users still need to bear the risk after the upgrade based on their trust in the previous version of the contract.
Then how to hand over the decision-making power of this upgrade from the developer to the user, and let most users decide the content and direction of the upgrade, so the smart contract project uses DAO to start governance. The recent Defi governance tokens are also born in this way. On the one hand, they provide liquidity incentives, and on the other hand, they return POS governance to the community.
Waiting for Ethereum to make a mistake may be a better option than "safer than Ethereum", Hu Ye, who died in Qin Dynasty.
secondary title
And win without helping the five countries
A detailed count of how Ethereum dominates the status of the rivers and lakes:
There is no exchange that does not support ERC20 and ETH
There is no multi-chain wallet that does not support Ethereum
No more wallets than Ethereum
There is no stablecoin market bigger than Ethereum
Doesn't have more users than Ethereum
None Has More Scams and CX (Innovation) Than Ethereum
There is no better developer environment than Ethereum
Don't have the equivalent capital reserves of the Ethereum Foundation?
In the block rivers and lakes where Ethereum is still the leader of the martial arts, it is better to go along with it than to fight against Ethereum. The emergence of Plasma, Optimistic Rollup, and some Layer 2 solutions began to add wings to Ethereum. However, Layer 2 itself also has a triangular problem of scalability, usability, and mobility. It exists to solve other people's problems, but it also brings its own problems.
The concept of the Ethereum side chain is to shorten the distance between oneself and Ethereum. At least the leader’s cousin is at least much better than being penniless in the Jianghu. For example, Taijiquan is also divided into Yang-style Taijiquan, Wu-style Taijiquan, and Japanese-style Taijiquan. In the final analysis, it is still trying to get involved with Ethereum, lowering the threshold for Ethereum users to enter their own ecology, similar to QQ Music importing NetEase Cloud "Your Likes" with one click, and Notion importing your Evernote with one click.
Binance Smart Chain will be an opportunity. It is compatible with Ethereum, backed by an exchange and supports many wallets. The Binance Chain developed based on Cosmos is not universal enough, and it is difficult to promote the development of Cosmos ecology by itself. There is still great wisdom in timely transformation.
Among the top 100 cryptocurrencies by market capitalization, ERC20 accounts for a much larger proportion than other public chains. Many public chains also attached to Ethereum in the early stage until the mainnet was launched. Due to the existence of these ERC20s, the status of the martial arts leader of Ethereum is also more stable.
Other application project parties did not choose to build on Ethereum because of Ethereum, but because of the status of Ethereum, everyone knows, everyone knows, and no one uses it, so they chose Ethereum instead of others.
It's like if you don't go on the high-speed road that Ethereum has worked so hard to lay, you have to go around the country road bumping around, asking for trouble and tossing yourself, and even shaking the passengers (users) on the car. Therefore, as an application project party, it has become the first choice to put its own tokens on Ethereum.
Ethereum is not perfect, but it is not so bad. The resources of the blockchain are limited. Expensive Gas is not a reason for refusing to use it. TPS that is not enough to carry applications is not an excuse to give up Ethereum. Oracle, which does not directly compete with the public chain The emergence of Chainlink, the dark horse of the chain, is no accident.
secondary title
UI
In the arena of the blockchain, there are also some sects that are forked from other sects. There are countless forked coins of Bitcoin, BTC/BCH/BSV will never end the dispute over who is the orthodox Bitcoin, and how many small coins have been split out from Monero, Raven, and Turtle. Ethereum has also experienced forks. In addition to Ethereum Classic, more forks only stayed at the white paper stage and disappeared.
In fact, there are too many examples of Fork Ethereum to create a public chain faster than Ethereum, but none of them can shake the status of Ethereum. The reason is that we don’t need a cheap Ethereum that is faster and cheaper than Ethereum , but to make Ethereum faster and cheaper.
Although they got a faster Ethereum-like public chain, they did not replace the usage scenarios of Ethereum. It's like WeChat not entering merchants after launching payment.
WeChat Pay’s competition against Alipay is by no means supporting merchants that only support WeChat Pay, and moving merchants that support Alipay to WeChat Pay. The payment speed and experience of both parties are also almost the same. In addition, the connection between users and merchants is more natural on WeChat.
The insufficient performance of the public chain is the shortcoming of Ethereum, but the high performance of the public chain is definitely not the main reason for the killer of Ethereum.
As the largest POS public chain, ADA and XTZ follow closely behind, and the current EOS cannot be described as the best. EOS, which is also a smart contract public chain, has zero transaction costs when resources are sufficient. After the launch of the mainnet, major exchanges have successively supported and supported more than a dozen types of wallets, and the ecological projects have over a hundred outstanding achievements. They also have a sufficient volume of CX (innovation), and even B1 has sufficient funds. Why hasn't EOS completed the task so far?
1. Exchange
Almost all mainstream exchanges, including compliant exchanges, support EOS, and you can buy EOS on exchanges that support ETH, except for DEX and sEOS of Ethereum.
2. Wallet
The Scatter wallet transitioned from a plug-in wallet to a client. The user experience that was incomprehensible in the early days was far behind the domestic wallet. Now the Scatter team has almost stopped maintaining it. I don’t know how many people have been blocked by the mainnet account threshold for new users. If there is no optimization of the EOS registration threshold by domestic wallets, there will not be so many EOS stories. The wallets' congratulations to EOS are far greater than EOS's support to wallets.
3. Stablecoins
In 2018, Tether launched the Ethereum version of USDT. Most exchanges and people are still using Omini USDT, which needs to wait for half an hour to be confirmed. A small number of people have used the Ethereum version of USDT and will never go back. Episodes such as false recharges and address filling errors also appeared during the period. The advantages of faster transfer speed and lower handling fees make the remaining exchanges and payment service providers in the industry irresistible to Ethereum's USDT.
Today in 2020, supporting ERC20 USDT has become the mainstream, and the other compliant stablecoins PAX, HUSD, BUSD, and USDK have also chosen Ethereum, and even the synthetic stablecoin DAI is shining in the Ethereum Defi ecosystem.
In contrast to the stable currency on EOS, although Tether launched USDT on EOS, if you have actually used it, you will find that it is difficult for you to find an exchange that supports EOS-USDT recharge, so that you need to switch to ERC20
USDT, then why don't I use Ethereum's USDT directly?
What is even more difficult for ordinary users to understand is that EOS has more than one USDT.
The first is the EOS-based USDT issued by TEDA.
The second is synthetic assets, which should be easy to understand for those who have learned about BNT.
The third one, except for the different contract address, has the same name and LOGO as the BOS cross-chain asset USDT.
The fourth is the USDT issued by the Whale Exchange, which is the same but the contract address is different.
The fifth is the USDT issued by Newdex, which also has a different contract address.
So the question is, the four USDT contract addresses are different, and the address can display four kinds of USDT at the same time. In this case, which contract address USDT should the exchange support? Which USDT should EOS-based Defi applications support, and how can users distinguish between real and fake Monkey Kings?
As long as developers want, ordinary developers of ETH and EOS can issue their own USDT. Even USDT needs to be independent and incompatible with each other, which is not uncommon on EOS, so it is not surprising that the crowds compete and contain each other.
4. EOS game in game
There is no shortage of scams and CX in EOS. When they create bubbles, they also bring people into EOS, and the same is true for ETH. Scams are also escalating, and it is possible that a large number of players involved in the bubble understand the use of smart contracts better than most Traders who only trade on exchanges, even though they are only involved in scams based on smart contracts.
5. Development of ecological applications
Both EOS and TRON used to be crazy about lottery applications, and the high-performance public chain opened the results in seconds, which was conducive to improving the transaction speed of public chain resources and mining became the main transaction of the public chain. As a result, the high-performance public chain is full of junk transactions, and the cost of real users is continuously increased until the normal experience is lost.
After several rounds of Dapp outbreaks, no high-quality applications remained, and most applications could not be opened after losing operation and maintenance. When the flowers bloom again, these public chain Dapps will have no second spring.
The number of applications and transaction volume should not be pursued, but long-term support for available high-quality applications and the development team behind them. Except for some public chains with deep pockets, other high-performance functions cannot even be obtained by developers outside the team to build ecological applications .
ETH->NAS->NEO->EOS->ONT->TRON->?
However, the effect of the act of throwing coins is limited. If you pay attention to multiple ecologies at the same time, you will find that the repetition rate of grants for project swaps is not low. Whether the project will remain in the ecology for a long time depends on whether there is a public chain that distributes more coins.
6. Back to Ethereum"AdNode、AnyLog、BREACH、Custos、Digital Oracles、EcoMatcher、Forkast、GEER、Genobank.io、Genuine Way、Havuta、Herd、KARMA、Klevoya、Laava ID、Limelabs、Magic Lines、NouGit、Outplay Games、PAKT、Portfolio.io、PUML、Qokka、SnapX Platform、Tabletop ID、TAIKAI、Talksho、The Labz、The Writer Company、TrueOrigin、Unum ID、UrbanChain Group、WordProof、Zumo",
B1 funded a project
That's right, most projects have never appeared in the field of vision of domestic EOS users. This is like a divided world, which is unimaginable.
Syed Jafri of EOSCafe won the EOSIO Challenge and created an environment for applications running on the EOSIO blockchain to provide a complete Ethereum program, allowing Ethereum applications to run on the EOSIO blockchain, so that the ETH ecology is my ecology .
EOS is currently the number one player closest to the Ethereum killer. It has the public chain with the most support other than the official one. It occupies the right time and place and is temporarily defeated by Renhe. It has been two years, and the whole ecology is not united enough to shake Ethereum. The price is the best embodiment, which is a pity.
Take the example of EOS to summarize that the high-performance public chain becomes the killer of Ethereum, not only because of internal strength, but also because of external factors. Sufficient exchange and wallet support are the most basic. You can imagine that supporting a certain Ethereum Layer 2 and Ethereum killers only have their own wallets, while most exchanges and wallets on the market only support Ethereum with basic functions. So what are you talking about helping Ethereum get its wings? What's the point of features that can't be promoted on a large scale and only a small number of people can experience and use?
7. Smart wallet
At present, there are many smart wallet solutions on the market, and the standards are as inconsistent and impossible to be unified as Defi applications. A better product experience is obtained by sacrificing some functions, which is essentially like an exchange application without trading functions.
It is not possible to use Ethereum applications as easily as native addresses, despite WalletConnet.
Cannot recharge directly to the exchange (contract transfer is not supported)
Unable to receive NFT of ERC1155
The experience of smart wallets will be better for novice users. Once they understand the blockchain knowledge to a certain extent, they still need to accept the decentralized side of the blockchain.
secondary title
Although there are three households in Chu, the death of Qin will lead to Chu
The cross-chain duo Polkadot and Cosmos, as Cosmos left the IBC problem, gradually lost color after being handed over to the community and belonged to anyone, relying on Kava to prop up the Cosmos Defi sky.
Polkadot will be launched soon, and we will keep an eye on the future of Polkadot. I believe that Gavin, the former CTO of Ethereum, understands the blockchain.
It is still too early to judge whether Nervos, Near, Harmony, Solana, Coda can pose a threat to Ethereum. It's better to make a simple list.
50% of the top 20 exchanges listed on Coingecko
At least ten wallets supported (desktop, mobile)
More than 50 unofficially supported apps
Three unofficial blockchain browsers
Stablecoins in the public chain account for 20% of the market share
Entered the top 20 by market capitalization
The ethereum killer candidate list cannot ignore Tron, which has an astonishing similarity to ethereum, Sun Late But Arrival, a man who will never be absent.
I can’t be sure that Tron is the Ethereum killer. In addition to the good infrastructure, the similar experience of Ethereum, and the occupation of the stablecoin market, it also needs the consistency of the public chain team to resist Ethereum. Tron’s coin distribution is not mindless. It is effective to buy advertisements in the toilets of the venue, encourage developers to participate in competitions, subsidize USDT, and acquire P-network. The failures include investing in the JUST team and acquiring Steem. There are times of great loss.
We tried to use the above five points to compare, and the exchanges except Coinbase seem to be online. The number of wallets supporting TRON is also sufficient. In addition to Wink, JST, and BTT, there are still applications such as Dlive.
The most worth learning operation of TRON at present is to obtain the stable currency market when other public chains are hesitant, and get a pass to live to the next bull market. A large number of USDT transfers are migrated from Ethereum to TRON. Exchanges and wallets are starting to pave the way.
Exchanges that do not support TRC20 USDT will be gradually eliminated by the market like exchanges that did not support ERC20 USDT in 2018.
Transfers in Omini and ETH can save time by spending more money, and using TRC20-USDT not only saves money but also saves time. The speed experience improvement of using TRC20-USDT and ERC20-USDT will not be obvious between exchanges. If you are transferring money between wallet addresses, you will applaud the public chain that can save your time and choose to use TRC20.
TRON has recently launched USDJ (Ethereum version of MakerDao), and has begun to lay out and improve its own Defi sector. The stable currency introduced in the early stage and the USDJ generated by mortgage assets interact with each other.
Defi can be divided into five types of applications, Dex, Stablecoin, Lending, Margin, and Oracle.
There is no shortage of Dex in TRON. As early as the Dapp period, Dapp tokens catalyzed Dex. In addition to USDT, the stable currency has been supplemented by USDJ. Except for Zethyr, there are no more lending applications, and Margin and Oracle are vacant. Chainlink has not connected to TRON so far. I wonder if Band will serve TRON in the future?
Some time ago, Uniswap seemed to be a gathering place for Ethereum speculators, and it was very lively. The TRON version of UniswapOikos is also launched, and it comes with Synthetix and Margin functions.
For Defi outside of Ethereum, Oikos' high imitation of Synthetix and Uniswap alone has filled the two puzzles of Defi in TRON at one time. Oikos, which has just completed the Beta test, is undoubtedly another opportunity to deploy in the Defi field.
How far is Tron from becoming an Ethereum killer?
Richer Defi Ecology
Layout NFT field
secondary title
...
Summarize
Summarize
Ethereum is not Qin. Although there are some problems at present, we still have full confidence in Ethereum 2.0 and its ecology. Ethereum killers do not have to surpass Ethereum, as long as they do not give up progress, the situation of one superpower and many strong can continue, and the public chains also need mutual cooperation and support. It is not far away to play ETH Defi application on EOS and send anonymous transactions through TRON and Near.
IOS
Android