How CONDA chose the blockchain for CRWD Network
By Daniel Pichler
June 14, 2018
CRWD Network
In the beginning, it was clear that creating a new blockchain on which CONDA should build the CRWD Network is not the best option.
So, the task of choosing the right existing blockchain for it required several things to be taken into consideration. For creating CRWD Network, CONDA needs a decentralized and public blockchain that is both reliable and has proven itself.
There is a wide variety of networks to choose from, such as Ethereum and Ethereum Classic, through NEO, NEM, and Tezos. Each of them would be a good choice for CWRD Network, considering that all of them are in constant development and they rely on proven PoW or PoS algorithms.
Apart from the mentioned blockchains, other blockchains, such as the most famous one that stands behind Bitcoin, do not natively support Tokens or Smart Contracts. It is important to note the development solutions to this issue, such as RSK. However, this option is not ready for production.
CONDA’s blockchain of choice is Ethereum
Ethereum is chosen due to the fact that it has 66k+ token contracts deployed so far and has the most reliable Smart contract language, Solidity.
While alternatives exist, it is safe to say that they are, in the current state of development, lacking in either scalability, the level of decentralization or community trust. With the latter two being the most important for the CRWD Network, Ethereum became the blockchain of choice, and CONDA will be paying close attention to its development.
In case Ethereum fails, for any reason, the fallback option is Ethereum Classic.
Volatility issue
When using Ethereum as the blockchain for CRWD Network, the only natural option is to have Ether (ETH) as the cryptocurrency of choice for investments. Considering the volatility of cryptocurrencies, this solution should be addressed again in the future, and currency compared to a more stable asset.
This is possible to happen in the future iteration of the network, by introducing a stablecoin as a replacement for ETH. Currently available stablecoins are Tether, Digix Dao, Maker DAO, Carbon or Saga, with each of them having different risk profiles.
Their development will be closely monitored, as CONDA is hoping that one of them could become developed to fit the CRWD Network.
