The Ultimate Blockchain?

[Abiky]

Many cryptocurrencies have come and gone over time, with unique features not available elsewhere. Some coins have huge block sizes (like BCH and BSV), while others use SegWit + Lightning Network (like BTC and most popular cryptocurrencies on the market). Other cryptocurrencies are completely private using unique technologies like RingCT and Mimblewimble (like it's the case with Monero and Grin).

Yet, I haven't seen a single blockchain network which incorporates all of the good technologies into a single cryptocurrency. I think that the "Ultimate Blockchain" would have most of the features that makes crypto good today. I'd imagine a cryptocurrency with privacy features, as well as, Lightning Network, SegWit, an immense block size, and even 2 algorithms for consensus (PoW + PoS). Combining all these features, could result in an extremely powerful Blockchain network that might topple Bitcoin sometime in the future. This might sound crazy, but it could work in the long run.

Nonetheless, do you think that it's possible to create the "Ultimate Blockchain"? What are your thoughts about this?

[1714962765]

1714962765

[NoirSuccubus]

I am not a developer of blockchain networks and it’s hard for me to say something specific about the possible creation of the “Ultimate Blockchain”. However, I think that such a project will someday appear. I want to believe that such a miracle awaits us.

[Mia44]

If all could be put together easily, as you said, we will soon have a perfect blockchain network. 3 important characteristics of blockchain are decentralization, security and scalability. Existing blockchain networks have at least one of these weaknesses, and it's not easy to fix them.

[Abiky]

If all could be put together easily, as you said, we will soon have a perfect blockchain network. 3 important characteristics of blockchain are decentralization, security and scalability. Existing blockchain networks have at least one of these weaknesses, and it's not easy to fix them.

That's certainly true, mate. But so far, none of the Blockchains I've known have come up with a perfect solution to maintain decentralization, security, and scalability at the same time. It seems impossible to fulfill all 3 characteristics as the Blockchain would either sacrifice decentralization in exchange for scalability or vice-versa. But I believe that if a Blockchain like this emerges within the mainstream world, it would be completely revolutionary. That alternative Blockchain would certainly topple Bitcoin's place across the market.

Upon doing some research, I've found some altcoins which incorporate several privacy and scalability features such as ZK-SNARKS and Instant Transactions. While they're able to provide these goodies, they're missing a key characteristic of Blockchain technology which is decentralization. Since it's extremely hard to come up with the ultimate blockchain, I believe that Bitcoin will reign supreme for many years to come. After all, every single Blockchain has its own respective advantages/disadvantages. The more cryptocurrencies emerge on the market, the better it is for the improvement of the Blockchain industry. Several features and technologies will be tested over time to make crypto land a better place. Hopefully, we'd be able to see the Blockchain industry improve in the future as developers work hard enough to maintain a stable ecosystem that's easily adopted by people within the mainstream world.

Nonetheless, the quest for obtaining supremacy as the ultimate blockchain may not end as cryptocurrencies battle their way to defeat Bitcoin in its entirety. But we all know this is very unlikely to happen sometime in the future. Just my thoughts

[NeuroticFish]

You could also add smart contracts to the list of "features".

About an "ultimate blockchain".. I don't know. Humans do like variation. Some don't care that Bitcoin is only pseudo-anonymous (and making it truly anonymous may give reasons for banning it). Some care only about smart contracts, others not at all. And (unfortunately) the huge majority only cares of which one of these gives better investment returns.

Crypto is not as mature as we'd like to believe. Maybe the time for "ultimate blockchain(s)" will come in the future. Until them, let them compete and prove their value (and fix their weaknesses).

[cryptoadept]

Check out Amoveo. It has PoW security, PoS speed and scalability thanks to sortition chains. Also, it has oracles, decentralized markets, stable coins, etc...

[Abiky]

You could also add smart contracts to the list of "features".

About an "ultimate blockchain".. I don't know. Humans do like variation. Some don't care that Bitcoin is only pseudo-anonymous (and making it truly anonymous may give reasons for banning it). Some care only about smart contracts, others not at all. And (unfortunately) the huge majority only cares of which one of these gives better investment returns.

Crypto is not as mature as we'd like to believe. Maybe the time for "ultimate blockchain(s)" will come in the future. Until them, let them compete and prove their value (and fix their weaknesses).

Yes. Smart contracts are a must these days for most Blockchain networks. An ultimate Blockchain would need to adopt this feature, as well as, privacy solutions, to rival Bitcoin in the future. But I guess that it's something difficult to achieve since you'd either sacrifice Decentralization over scalability or vice-versa. The ultimate blockchain would be considered as something perfect, which is nearly impossible to achieve. The closest thing to an "ultimate blockchain" would be Ethereum as it not only provides contracts but developers are also integrating privacy solutions into it (like Zero Knowledge Proofs). Additionally, Ethereum will scale to thousands of transactions per second in the future, making it a powerful workhorse for decentralized finance. As you've said earlier, crypto is still not mature. It's only been a decade since crypto and Blockchain tech's inception within the mainstream world. There are still a lot of issues/flaws to solve in order to make Blockchain an almost-perfect technology for mainstream finance. Until the scalability dilemma is solved, we cannot expect to see an ultimate blockchain solution within the future. Just my thoughts

Check out Amoveo. It has PoW security, PoS speed and scalability thanks to sortition chains. Also, it has oracles, decentralized markets, stable coins, etc...

Amazing. This new cryptocurrency has many attractive features that makes a Blockchain network powerful and scalable for the world. The current price per coin, shows how undervalued this cryptocurrency is relative to its technical aspects. I guess that people haven't noticed its true potential yet as they're largely focused on the big players such as Bitcoin and Ethereum. With effort, Amoveo could go all the way to the top 10 cryptocurrencies in market cap. Adoption is necessary for this to happen, though. We'll see what the outcome of Amoveo's developments will be, as time goes by. If it turns out be good, then you could expect it to rival even the most prominent cryptocurrencies on the market. If not, then it'll be just an idea that will fade into oblivion.

[Aabcde]

I think everything can happen and possible. But sometimes the regulation of the authorities that suppress it becomes a narrow scope. A month ago I heard a project called Stegos. They carry privacy as the basis. And when reading the whitepaper, they really have a way to transfer without a TX ID, this is called Snowball. But now I don't know, maybe op can find out more.

[Mallyx]

The ultimate blockchain will be all blockchains together: https://blog.wavesplatform.com/gravity-hub-to-unite-blockchains-and-connect-with-other-systems-9e2f2a2818f?

[Mighty_crypt]

Many cryptocurrencies have come and gone over time, with unique features not available elsewhere. Some coins have huge block sizes (like BCH and BSV), while others use SegWit + Lightning Network (like BTC and most popular cryptocurrencies on the market). Other cryptocurrencies are completely private using unique technologies like RingCT and Mimblewimble (like it's the case with Monero and Grin).

Yet, I haven't seen a single blockchain network which incorporates all of the good technologies into a single cryptocurrency. I think that the "Ultimate Blockchain" would have most of the features that makes crypto good today. I'd imagine a cryptocurrency with privacy features, as well as, Lightning Network, SegWit, an immense block size, and even 2 algorithms for consensus (PoW + PoS). Combining all these features, could result in an extremely powerful Blockchain network that might topple Bitcoin sometime in the future. This might sound crazy, but it could work in the long run.

Nonetheless, do you think that it's possible to create the "Ultimate Blockchain"? What are your thoughts about this?

If you are looking for all in one projects that have many features combined them i suggest you check out clear foundation and cartesi, although the are both still new but their features is outstanding

[nicolas1979]

Everything is possible and I believe this time somebody already prepare about this. Use only one to get all services is really good but I'm afraid we will need high technology and big fund to try, fail also could happen. Maybe in next 10 - 20 year we will see ultimate blockchain, the best platform for all crypto transaction with high security system but simple to operate.

[Abiky]

I think everything can happen and possible. But sometimes the regulation of the authorities that suppress it becomes a narrow scope. A month ago I heard a project called Stegos. They carry privacy as the basis. And when reading the whitepaper, they really have a way to transfer without a TX ID, this is called Snowball. But now I don't know, maybe op can find out more.

Never heard about Stegos before. But if it works as it claims to be, then it would prove to be quite a revolutionary cryptocurrency. For a Blockchain network to be considered as "the ultimate one" it needs to meet with decentralization, security, and scalability. Most blockchains of today, are secure and scalable but are not decentralized as we thought they would be. Others are decentralized but are not scalable for the whole world to use. There is still a lot of work to be done in order to fulfill said requirements without defeating the purpose Blockchain technology was created for. The Ultimate Blockchain would need to have smart contracts functionality, privacy by default, decentralization, and scalability. From what I've seen, there are many projects that are close to having all of these features. Komodo and NEM are great Blockchain platforms with powerful functionalities that are far beyond finance. They're still undervalued today. But once people realize their true benefits, they could soar in mainstream adoption like never before.

Nonetheless, I'll be keeping a close eye to this new "Stegos" project. Its success will largely depend on the level of adoption from people in the mainstream world. Not to mention, regulations can affect positively or negatively a cryptocurrency project. And if Stegos will have privacy in mind, it may have a hard time with worldwide governments.

The ultimate blockchain will be all blockchains together: https://blog.wavesplatform.com/gravity-hub-to-unite-blockchains-and-connect-with-other-systems-9e2f2a2818f?

That's the ultimate goal. If Blockchains work together, many things could be solved (like scalability and privacy). As it's said, there's "strength in numbers". The more networks are interconnected, the better it'll be for censorship-resistance against oppressive governments and other entities. Glad to know that Waves is working on something like this, in order to make crypto a better place. As of now, it's one of the most undervalued cryptocurrency projects on the market with so many innovative features that are useful for the mainstream world. Time will tell us if this proposal from the Waves project will be successful or not.