Do a dApp (if they issue a coin) have to have a protocol as well, in order to establish a coin. Every coin needs a protocol?
Which means that all new coins issued acutally in part fragments the total users of the original protocol that is used, e.g. ethereum or other.
If what you mean by protocol is a way to issue the coins, then yes, all coins need a way to issue the coins, otherwise you end up with a controversial problem: How do you issue them if it's not an automated protocol?
This is the main problem of Byteball. Byteball has instant transactions, no blockchain etc, but all of this seems pretty useless when you consider the coins are custodied by some russian guy that is issuing them... doesn't seem too hi tech for a decentralized currency.
