Bitcoin Forum

We know, that nowadays many blockchain platforms with their respective coins are competing to be number one in the cryptocurrency space.
There are people who agree with Ethereum and there are also those who agree with Binance as one of the best as a place to create smart contracts (for example).

Apart from these two platforms and parameters, do you all agree if someone leads an ecosystem related to the world of blockchain and cryptocurrencies?

What should the ideal world be like?

FYI: Google is the ruler of the internet, and there are people who agree with what he is doing, but there are also those who don't.

the competition will continue. there will always be good and bad. we always judge everything by the achievements that occur in the market. we can give our own judgment.
but I'm thinking about how to divide the functionality of the smart contract according to the function and purpose of the project. like, what the platform will be made for.
when this happens, the cheapest and fastest will be the most adopted. most importantly, the volume of supported DEX exchanges.

I doubt this, as one way of looking at it, I see that it is inevitable. The life we ​​want is a freedom and no control, but I think this will be hard to come by because of the trust to get it, so there will always be many choices for us and There won't be one thing that unifies everything.

It is comparable to a democratic society. One does not have absolute control and they do not dictate what others will do, I consider that as a healthy co-existential system.

Ideally governments would allow crypto trading freely and observe transactions to catch money launderers. Altcoin or no altcoin does not change the ideals, they are only methods to use crypto and people are free to use them.

However, if your target is to make a profit from the market, then either smart contracts or DeFi will not help you. One needs to put their money in bitcoin and the top few altcoins and keep them stockpiled for future selling. That is the best method to profit. Hence the "ecosystem" gets skewed towards bitcoin for the ones who will survive for long.

There are lot of blockchain available apart from ethereum and Binance smart chain like Tron, EoS, etc. But all these platforms claims that they are better than the others and mostly the bitcoin while the projects created using these platforms are turning out to be scam everyday which itself a disadvantage of those coins.

BTC leads the crypto market, not ETH or BNB. But, if you ask that any project can replace it, surely yes. From the past to the present many projects have come and gone, maybe one day ETH or BNB will be one of them.
But, I have no idea about BTC. It has been with us for a long time and will remain king as long as there is no fundamental change in this market.
Because google uses your data as it wants.

Ethereum represents the natural evolution of the crypto ecosystem. Bitcoin came along and provided a proof of concept that an economy made up of virtual currencies could exist without a centralized intermediary (such as a central bank). While Ethereum demonstrates that you can use this “no centralized intermediary” model and apply it to other transactions, such as legal or professional contracts. Then came the term smart contract.
The conclusion is that Ethereum has the potential to democratize virtual currencies. And with so many potential applications, the underlying ETH token could easily beat Bitcoin's profits in the long term.

There's no ideal blockchain, Both network can co-exist. I don't think there's a real competition between the two since they almost share the same user base. But i prefer to use BSC due to low fee's, but once ETH switch to POS it will be a different scenario.

Fast and Has Good security.


For me this is the criteria that's essential for blockchain. Many Blockchain Project right now are competing each in terms of TPS but some of them are showing some lack of security that resulting on there system breach. For me if blockchain has this to main key characteristics, They can completely dominate the market.

the crypto market can never be ideal, because there will always be competition. there are no leaders, there are only popular platforms or not. Google can be number one because of where it has a monopoly, and that can't be done in the crypto market. all have freedom, because the nature of crypto is decentralized.

Does ecosystem even exist in the crypto currency world? What exactly do you even mean by ecosystem over here?
And that's a good thing, isn't it? More competition means more development. If there was no competition at all, we would just see one platform leading and probably monopolizing everything. If they didn't had any competition, they wouldn't want to add/develop anything on their existing platform. This is true for everything.
People have opinions and preferences. One might like Ethereum, others might like Binance. They all have their valid reasons and to each their own. None of the system us perfect though. Each will have or has their own flaws.

^ So? There are no ideal conditions for the world of cryptocurrencies?
All platforms just have to continue to compete to be the best by keeping up with technological developments as well as human needs?
Is this fun?

The ideal ecosystem so far is the ethereum network but we can see that binance smartchain also advancing with this. There are also some other contender or in the pipeline aside from these two. I am rooting for avalanche and fantom network too and I can see a alight boost on their expanaion and development.

Also in the last league we can see polygon or matic as improving the fastest. We can see many expand their ecosystem on polygon and thats not shocking cause they really show how efficient their platform.

There will always a competition in crypto space that's why a lot of people here who believed that the project is good preferred to compete to others no matter what the situation is.. Especially right now wherein mostly cryptocurrency were down so for sure there's a race just to survive the red wave in the market.. And the funny things is they're insulting as well and it seems unprofessional ways. Lol

I don't think there will be a ideal cryptocurrency ecosystem because:

(1) the market is open for everyone 24x7, decentralised, no central authority

(2) Lots of buyers and sellers in the market, so others might lose their money, but majority will profit.

So for me, you can define the market as total chaos, but on the other hand each and everyone can developed their own strategy (might be including shilling, scams and others)., but in the end its really up to us to do our best and put forward a good game plan.

A real community that can be physically found for which the currency is cryptocurrencies, at least those top coins or high volume and liquidity that can be used as payment for that certain place for goods and services that are existing on that place.

That's a dream come true where everyone can spend their cryptos to pay for everything that they want. There might be some limitation on what are the only cryptos that are accepted but that's normal just as what we're doing.

Very interesting question.

In the world where no one can be trusted, everyone should be bounded by good/right/fair Rules and the rules become the ruler. You'll need good judges/leaders that follow the good rules and are able to guide others based on the rules. Everyone in the network will have copies of the rules and use that to put the leaders in checks if they try to transgress. In truly decentralized network ,the leader will always be held accountable once the law is broken. And leaders are selected/elected based on merit.
You can always randomize(and also Anonimize) the leaders to keep them safe to make things hard for corrupt people or crooks to influence

Crytocurrency ecosystem is still in development stage. Most times we feel something new is the best, only for them to be overshadowed by better technology. The advancement in the industry is superb and it would be unwise to set up an ideal standard when we're dealing with the issue of rapid obsolescence.

There are enough platforms that have a number of good features, but none really has all the good ones combined. Basically, four characteristics are important: low fees, highly scalable, decentralized and a fair distribution of coins/tokens. For the latter, one would have to develop a consensus that does not favor the stronger one.

An ideal cryptocurrency ecosystem is not something we can make possible. Learn that no matter how perfect we want it to be, there will always be flaws to the system. Even with the world's monetary system, it is far from what people are wanting yet we learned to cope up and ride with it each and everyday. The same thing should happen with crypto, no matter how settled and well-developed the coins already are, there will still be others left behind which commits failures and downfalls. Crypto would function well with or without an ideal ecosystem and it has been like that for a long time already.

I totally disagree, it's like a monopoly and very far from what blockchain technology is trying to achieve. and there is no ideal ecosystem in the crypto market because all will always be competing. there will be no leader who controls the ecosystem, all have an equal chance of being successful.

what determines success is the market.
indeed there is no exact size but an ecosystem that thrives and is successful if they have more users than others.
We have seen how now projects that build or develop their ecosystem continue to grow. strives to be better and to be a solution to what the users of the existing ecosystem feel.
everything is determined by market interest.

Yes, I would agree in principle with the equal competition thing.

But, in the end, a few will prevail, maybe just one or two platforms. That's what the network effect brings in the long term. You can see that well in today's Internet giants. There is only one big social media platform (Facebook), only one big search engine (Google), only one big short messaging platform (Twitter), etc.

Sooner or later, the same thing will happen in the blockchain space.

I always believe into new innovation to be incorporated everywhere so there are definite possibilities for new things to be invented in coming days which might be highly competitive to existing platforms for sure. At the same time this does not mean that will replace any of the existing system because for a payment and other speculative needs we are having something and if there is a need for something to be fixed then there would be plenty of possibilities for the arrival of new innovation.

Without problems, we cannot look for solutions; which is simply applicable even for this crypto space as well so first we need to look for problems and then we can simply find solutions; this way, we will be having more innovation in this crypto space in near future.

I feel like we should not have just one thing that is full of everything perfect. I understand that ETH has an ecosystem, I can see Binance having their own, even tron has their own system as well and they are all fine. We should not look to have just one single thing that is better than everything else in every category, that is not really a good thing because it is eliminating competition.

We should have ecosystems where X is good and ecosystems where Y is good and that way we would have best in different places, and they will fight for your business and they will try to get investors by improving constantly, it is a non-stop thing, you improve one part and then you improve the next without stop. However the most important part of any ecosystem is to have many projects, if there is no interest towards it, it will become like tron where the ecosystem is not used at all, but if there is interest then it becomes like eth and bnb.

Correct, it is absurd to attempt to compare one with the other for the intention of proving one's own opinion correct. But they should be compared only on a case by case basis for ease of use.

Any proof to back this claim? One person monopolizing is a centralized network is the opposite of what Bitcoin is. Bitcoin is decentralized and not all but most altcoins are also decentralized, at least the ones which came the first few in the coinmarketcap toplist.

Dont think that Satoshi control the network. The algorithm was created in a manner that anyone can use the network to transact and it would not be controlled by a single entity.

Must there be a leader?
Ethereum and Binance are examples you mentioned with the advantages of smart contracts (examples) without me having to compare them with others. Then, what happens to other coins on the market. As if I can clearly say that the market continues to be monopolized. Then how the ecosystem is good or ideal, maybe you know better than me.

I think there is no need, between different blockchain platforms need independence. Build multilateral cooperative bridge chains - cross chains are good but don't need someone to dominate. It is too dependent.
Yes, can we trust Rsk Network with the Iris upgrade for smart contracts? The civilization of blockchain with bitcoin is always evolving, it is real value.

There is always competition here, so the worst possibility is that there will be a winner in the competition.
We certainly don't want to be monopolized by one actor, but if that happens do you want to stay here holding on to your idealistic mindset or choose to leave the world of cryptocurrencies?

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Thanks for the response from all my friends in this forum.

Not really. For me, idealistic mindset as you mean only applies to me. Regarding market monopoly, it is impossible for one actor to do it. Other actors are also involved. Competence in the cryptocurrency world should be a good example, so that it can only be said to be ideal.

Every platform has its own advantages just like ETH being the first to have come up with it but there are actually first before ETH but were not very successful. Bitshare I believe is just one and it's still pretty much in the market with a considerable volume. Because this is decentralized, you just can't prevent anyone from creating another which is why there are different ecosystems including that BSC, TRX, EOS, WAVES, and so on. ETH so far is the most dominating because there are far more developers dwelling on it.

There are many projects that replicate the main core projects and there are many trying make it a monopoly like what Binance is doing replicating other projects and they are making a ton of money and they have the backing to do anything else and we need decentralized market place and projects and the market will determine which one will succeed and the future depends upon decentralized market.

Maybe it's too naive if we expect the ideal market to be Crypto.
We know that the market Crypto is very volatile. Prices cannot be determined to just rise and continue to maintain and then go up again. There are times when the price suddenly drops very drastically only at a very fast time. Can we stop it? No, of course. Because there are various strengths and interests in the world of Crypto, just like in the real world. And this is what won't make the world of the Crypto Market ideal. But at least, we must take advantage of every Market Condition.

The easiest cryptocurrency for users is NEAR protocol, you can interact with smart contracts but you don't need Metamask.

As for a small investor, scalability and, as a result, the cheapness of transaction fees is really important. Unfortunately, Ethereum is very expensive compared to other blockchains like Binance Smart Chain, Polygon, Tron etc. Nevertheless, it had other important features. It is decentralised and safe which is also very important. I strongly believe that Ethereum 2.0. will solve problems of scalability so it will be the ideal blockchain.

The ideal ecosystem is one where everyone works together. Every secure project that has things that can benefit itself and others should work together to create one big world wide ecosystem that allows for everyone to get the best from all of the best blockchains. Blockchains should be working together, they should not be competing.

ideal crypto in my opinion
have guaranteed security,
Cheap withdrawal fees on exchanges or personal wallets
but that hope will somehow be realized due to the increasing number of crimes in crypto

The ideal cryptocurrency ecosystem in my opinion is the one where all cryptocurrencies are crosschained and can be easily converted to other cryptocurrencies based on their value which will be pegged against BTC. That way, it doesn't matter what coins you are holding, you will have liquidity as much as anyone else holding any other coins and the growth of projects will not just be easily influenced by what exchanges they are traded on but how good the projects are and the value that they offer

I haven’t learned all the ropes of Ethereum 2.0. Moreover we don’t know when exactly it is going to happen, but Vitalik Buterin states that  there are three main features: scalability, decentralisation and security, and all projects can have only two of them. So if Ethereum is safe and decentralised now, maybe it will not be so secure and decentralised in the future when it becomes more scalable.

He won't sacrifice those 2 main cores of cryptocurrency just in case to reach more scalability. I think he will enhance the security and also the speed of the transaction.
They also change the way to earn the coin to staking, i think people is more familiar with mining if we talk about cryptocurrency because the bitcoin itself people earn it from mining, this will be something that we have to wait and see the market approach in the future when ETH 2.0 launch.
But in conclusion they will provide a better system and environment for cryptocurrency space, and i'm sure the price of ETH will be higher also

I think an ideal ecosystem is simplicity for connecting blockchain platforms, connecting different applications like ETH, BNB, Avax, Sol, and latest ADA with the upcoming smart contract launch  next.  In order to do that, different blockchains will have to sacrifice their independence and move towards an open development process.  Currently the bridge has been developed but it is still a bit difficult for users. It takes quite a while to move between blockchain blocks.  I hope there will be improvements on this.

Of course there are some similarities between the Binance Smart Chain and Ethereum. In part, that's what makes it so easy for Ethereum users to migrate and start experimenting with BSC. But despite these similarities, BSC made interesting changes to try to improve performance and efficiency. The Proof of Staked Authority (PoSA) consensus engine allows users to enjoy cheaper and faster blockchain transactions.

This is the crypto space and one of the features it is known for is decentralization, and that is why most of these blockchains like Ethereum is still valid today and is still growing, take a look at Bitcoin a lot of people trust in its decentralized nature hence the reason they can invest and be at cool with their long term plans. Although there are some platforms which are heavily centralized and that is also one of the reasons a lot of people are always skeptical about them, look at Ripple and how the community feels about it and even despite growing so much a lot of people still don't believe in it.
Therefore in my opinion, the features a blockchain platform offers is important but that decentralized nature is the most important of all, thus if a person will be the sole manager of a blockchain platform, trust will hardly be found within that blockchain and it might end up not growing as it is supposed to.
Lastly, an ideal cryptocurrency ecosystem in my own understanding is an ecosystem where trust in found both from the team to their use case, where reliability is found that is, the token or coin growing as it is meant to and not pump and dump, it is also an ecosystem where there is clear and positive impact of cryptocurrencies on human lives.

Ethereum and Binance smart chain are the most popular ecosystems right now, but if we want independence, then the community needs a decentralized internet.
Users launch new nodes and rent servers from large companies such as Amazon.
What happens if Amazon decides to disable these nodes?
For me, the ideal cryptocurrency is, first of all, the most decentralized coin.

Cannot agreed more with you yeah. There's their own perspective on what best and whats number one and whats number second. But guess what? I found other blockchain that really got my attention. That's DIVI. DIVI already listed on so many exchanges, such KuCoin, etc. Also really love with their weekly rewards system and of course i love staking as well so that's why i love DIVI more. Can staking with DIVI while waiting market back on track again and we doesn't lost of their value of course. Recently, Divi just accepted as payment for Maple Syrup. Well not gonna line, there's huge early steps that DIVI has made. Hope they will get more recognition of course, also this is from my own opinion. Not to do promo or just like that, you can check it out first and do own research of course with their reference