HashkeyCui Chenfang's current situation and development trend of public Internet

Time:2021-11-17 22:21:37 Edit: Browse:36465 Current location: home page > Ethereum information >

Author: Cui Chen,hashkey capital researchWork, reviewed by: Zou Chuanwei, chief economist of Wanxiang blockchain


Ethereum associated public chain is welcomed by the market for its low handling fee, but its micro innovation technology can not represent the progress of public chain.

Author: Cui Chen,hashkey capital researchWork, reviewed by: Zou Chuanwei, chief economist of Wanxiang blockchain

As a platform for users and applications, the value of the public chain is also reflected in users and applications. The e-commerce platform similar to the Internet provides a communication and transaction platform for enterprises and users to reflect business value. With the increase of applications and users, the value of public chain platforms will also rise. Since the application should be connected to the public chain, the public chain plays the role of infrastructure in the blockchain industry and is also one of the most competitive directions in the industry. As the leader of the public chain, Ethereum's application innovation and market value are far superior to other public chains. Ethereum is also a competitive target for other public chains.

People have predicted the competition mode of public chain for many times, including homogeneous competition and dislocation competition between public chains. In the past judgment, imitating Ethereum in function will not make a breakthrough in the industry, because Ethereum has formed an ecological barrier with other public chains in terms of developers and users. If the positioning is the same as Ethereum, it is difficult to use the applications in Ethereum in the competition. However, the current situation is different from the assumption. The public chain related to Ethereum, that is, the public chain with functional positioning similar to Ethereum, suddenly received a large number of traffic and users, which once again promoted the prosperity of the public chain. This paper mainly analyzes the development status and future trend of Ethereum related public chain.

The development of public chain and the rise of Ethereum related public chain

Development process and competitiveness of public chain

The public chain has a network effect, that is, the more users, the higher the network value, so as to attract more users, and more users will bring higher value to the network. The public chain can attract application developers and users at the same time, forming a bilateral network effect between applications and users. Users will be attracted by the application and join the public chain. Due to the number of users, the application will also be deployed to the public chain. Finally, the public chain will be subject to the dual value brought by applications and users.

HashKey Cui Chen: interpret the development status and trend of Ethereum connected public chain

chart1: network effect of public chain

If the public chain is regarded as an underlying distributed system, bitcoin is also a public chain, but it has no smart contract function. The public chain in the blockchain is completely open source, and it is very easy to imitate and plagiarize. Therefore, since the birth of bitcoin, there have been many imitators and competitors, but in fact, only Wright coin and dog coin are still active in people's eyes, while competitorsixcoin、tenebrix、fairbrixandpeercoinIt has disappeared in the same period. This stems from their uniqueness in positioning and community construction.Wright coinPositioned as a low-cost alternative to bitcoin,dog coinPositioned as a reward for consumer goods, rather than designed to replace bitcoin, this is not an innovative project.

The success of later bitcoin competitor Ethereum is inseparable from the technological revolution. Smart contract is introduced into blockchain system for the first time, which expands the programmability of blockchain. The emergence of Ethereum has opened the competition in the public chain of smart contracts. The pioneer advantage of Ethereum has taken the lead in attracting many application developers and users. Ethereum has advantages in cultivating developers' habits. For other public chain stores, past experience tells us that if we want to compete with Ethereum at the same stage, imitation alone is not enough, and all-round innovation is needed.

People are used to the public chain with innovation as the highlight of market publicity, which can attract the attention of more users. Developers also hope to build the next generation of Dagong chain. For example, people used to thinkEOSEnough to become the most powerful competitor of Ethereum, especially its strong community momentum. It takes a different road from Ethereum. However, the facts are not ideal. Community nodes are too centralized, and resource leasing creates a threshold for users. The homogenization of gambling applications has also led toEOSOur reputation is low.EOSIn the end, it didn't stand at the same height as Ethereum. In addition, almost all other public chains that have made major changes to Ethereum have failed to cause a huge sensation in the market, let alone those with only minor changes.

The rise of Ethereum connected public chain

When the market is waiting for a more innovative public chain to meet the needs of users and developers, the public chain related to Ethereum suddenly rises. These common chains refer to those that are very similar to Ethereum in terms of execution environment and application design. These public chains are only slightly innovative, and even applications on Ethereum can directly migrate code to the new public chain. Although they are very similar to the expansion of Ethereum, especially the recently popular No2Layer, but completely different in essence. These public chain stores have their own independent ecological applications and independent verifiers to ensure safety. The assets transferred from Ethereum to the above cannot be successfully transferred back in a decentralized manner, which is different from the third2The biggest difference between layers. These public chains also aim to compete with Ethereum and develop their original assets on the chain. In the past, this public chain did not attract public attention, but now the contradiction between Ethereum's ecological prosperity and Ethereum congestion has led to the rise of Ethereum related public chains.

This comes from some omens. first,defiOur business model has been verified on Ethereum. People can realize point-to-point financial applications on the chain, such asDEX, loans and stable currency. In addition, mobile mining and other mining methods related to these applications are regarded as benefits that users can participate indefiMake a profit. Secondly, users received education on how to mortgage mining and how to make money in Ethereum, so other public chainsdefiApplications can save users' educational costs. Users can directly use other public chains without paying learning fees. Last but not least, Ethereum's high cost makes it difficult for ordinary users to use it. At this time, a product with very low processing cost and the same functiondefiThe application suddenly appeared and successfully attracted the attention of users.

The same reason is inTronUpper developmentusdt。 first,usdtIt is issued on Ethereum and bitcoin, but due to the high handling fee,usdtFree version launched inTronThen quickly seized itusdtMarket share. Ethereum's associated public chain is very popular in the market because it solves the current pain points of EthereumdefiPopularity and support of community users. In this trend, many public chain stores are deployed in applicationsdefiAnd develop with EthereumEVMCompatible virtual machines. In the short term, this method will attract the attention of users, but whether these Ethereum related public chains will always exist and its future development is worth discussing.

User source of Ethereum associated public chain

Where do users on Ethereum related public chains come from to compete or attract new users in Ethereum ecosystem? This problem is related to the development of public chain. The data on the chain can help analyze this problem. The following figure shows Ethereum and the most famous associated public chainBSCNumber of active addresses and from2020Differences in daily transmission from the second half of the year.

HashKey Cui Chen: interpret the development status and trend of Ethereum connected public chain

chart2Number of Ethereum activities per day:

HashKey Cui Chen: interpret the development status and trend of Ethereum connected public chain

chart3:BSCNumber of active addresses and daily transfers

It can be seen that in Ethereum4month22Before the daily increase of block gas limit, the number of active addresses and the number of daily transmission fluctuated little, because Ethereum's block utilization was almost full. Relatively speaking, the balanced scorecard has been rising rapidly for more than half a year, especially in the past two months. lately,BSCIt has caught up with or surpassed Ethereum in the number of active addresses and daily transmission, and the daily transmission is even five times that of Ethereum. So,BSCIt does not compete with Ethereum for users, but the performance limitations of Ethereum make it unable to meet the needs of most usersWiFiThe needs of. Therefore, it provides an opportunity for Ethereum associated public chain to realize these needs, and finally promotes the rise of Ethereum associated public chain.

Current situation of Ethereum connecting public chain

Reasons for homogenization of ordinary chain

The process and reasons for the rise of Ethereum associated public chain are discussed above, but why did the judgment fail in the past, why did the public chain of misplaced competition not get so much heat from today's homogeneous public chain, and why did the public chain as a competitor finally move towards uniformity? The answer to this question comes from the previous exploration of the public chain. at present,two months,

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