Don't we have too many smart contract platforms already?

[Abiky]

Day after day, I see new cryptocurrencies whose underlying blockchain networks have smart contract features. We already have Ethereum, Cardano, EOS, Binance Coin, Flow, Tron, Polkadot, and many other cryptocurrencies with smart contract functionalities. Sometimes I think we have too many smart contract platforms that would bring no real use cases in the mainstream world. Instead of creating a new smart contract platform, developers should focus on building within existing platforms to make crypto land a better place. Yet, developers' mindset is to make large profits in the least time possible by creating a new blockchain network from scratch.

What are your thoughts? Do you think the market is already saturated with too many smart contract platforms? Or is there still room for growth? What may be the cause for such an unprecedented increase in new blockchain networks with smart contract functionalities? Will this ramp up the competition in the crypto/Blockchain space? Or will it do more harm than good for established players like Ethereum and Binance Coin? Your input will be greatly appreciated. Thank you.

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[nikki4]

Let's research both TPS and smart contracts. Smart contract is an old feature, but TPS can be increased. New projects must have something new or faster than others. Only a few years ago, Ethereum could handle the transaction, but now? For some research, every day we are getting new investors and users, where we need more TPS blockchain. Solana TPS over 29k maybe in the future this won't be enough for us. Sometimes we aren't all comfortable in one blockchain even if it's faster and at a low cost.

[DoublerHunter]

^ There will be more projects that will arise because we are still exploring the blockchain system, everyone wants to bypass BTC capability but then until now, no one has been successfully doing it. A smart contract is a code that restored in the blockchain, even how many smart contracts can be created still useless because some of them are of no real use or it repeats to one another which is the same concept of this smart contract. Another reason is that people want always an adventure to always discover a new one.

[samcrypto]

This market is growing and seriously, the new BSC platform is a big game changer which we don't know will happen because we are too focused on ERC20 so I think we are still not saturated and we might see more smart contract platforms in the future as long as there's a need to be improve, someone will initiate a good project and we should always open to that because that's a good improvement.

[hugeblack]

I don't think Cardano has smart contracts or they haven't been activated it yet,
Most of the so-called smart contracts are represented in the ability to create tokens and make exchanges, so we only need two or three main blockchain and the rest will be a repetition of previous ideas.
I also think that if we were able to create parallel contracts and the ability to make cryptocurrencies talk to each other and carry out transfers, the need for many tokens would end.

Regulation will end the speculation and therefore there will be no use for these tokens

[CaVO32]

I don't think Cardano has smart contracts or they haven't been activated it yet,
Most of the so-called smart contracts are represented in the ability to create tokens and make exchanges, so we only need two or three main blockchain and the rest will be a repetition of previous ideas.
I also think that if we were able to create parallel contracts and the ability to make cryptocurrencies talk to each other and carry out transfers, the need for many tokens would end.

Regulation will end the speculation and therefore there will be no use for these tokens

Repetition and slight modifications. They will introduce lil bit of changes and will sell it as better than others. Everyone is free to introduce their project but the difference may come to the fact that not all of them can manage their developments and sustain their operations. This is where they can beat with each other. Like ETH, a lot are trying to beat their network, however, even if they have shortcomings, they maintain their top 2 position. Because eth development team is very solid and they have resources to innovate. Whereas, others are not that aggressive when it comes to their developments.

[memyselfandi]

I don't see any problem with having a lot of smart contracts as long as it will not have an effect to the market circulation. Well, it is still the most popular smart contracts will dominate the market.

[blockman]

Saturated because there's too much but at the same time, competition is always good on its underlying market. That's why most new projects are choosing which shall benefit them and as well as their users upon transfers. With the problem that has existed in Ethereum even before, it had opened a lot of blockchain projects to have their own smart contracts which had added to the competition but still mostly stayed with Ethereum because it's the most used and common. Well, there's another tough competitor and gaining traction and that's the BSC.

[X-ray]

Basically, ethereum only is enough for us but the problem was getting started when it lacks of scalability and that was creating a lot of competitions between the developers to develop the scalable smartcontract.
These contract were having the same mechanism. It caused by the fact that those new developers got inspired from the ethereum smartcontract and they were expanding the basic code of smartcontract from ethereum.,

[kidbounty]

isn't that great? the more platforms will make the competition more fierce. and users who will benefit from this. they will compete to create a platform that is faster, cheaper, safer and more user-friendly. see today when erc20 network is getting very expensive, people have other alternatives like tron, DOT and BSC. if there is no other platform, this will not happen and the user can just accept it.

[slashz9]

I think it's difficult but it can be done and most of them only aim to take as much profit as possible and don't prioritize the progress of the project so more projects fail than survive because their goal is only that, instead of developing the project itself, but a good project and the bad will be seen its development over time. If someone manages to create a new successful project then there will be 100 clones of that project.

[dhemasm]

What are your thoughts? Do you think the market is already saturated with too many smart contract platforms?

Personally yes, there are too many networks that provide Smart Contracts with use cases that are almost the same as other networks (Let's take the example Ethereum use case) with not too much improvisation but hey it is Open Source and while the Demand is still there, other new networks will continue to emerge, So we can not do anything and just enjoy the flow until the saturation point is reached.

Or is there still room for growth?

Although I personally stated the above statement but I think there is still room for growth even though I don't know what, Maybe implementing it to an existing network is better than creating a new Network or forking Existing Networks Code.

[FairUser]

It is not uncommon to see new platforms appear and compete with each other. It is because the pull of the market has caused them to form platforms that try to exploit the weaknesses of their competitors to build independence, I am not too concerned about having a unified platform that is regulated there. And I think the current decentralization is interesting, when there are many platforms for us to choose from.

[jrrsparkles]

I would say creating a new blockchain is better than creating a token on existing blockchain because tokens don't have any real use case too, they are here for very short time and developers give up on their projects when they made enough money.

Creating a new blockchain may do more good things than bad, but obviously every blockchain is just copycat of bitcoin and other existing blockchain utility that is why they never had the success.

[apityeh71]

With more smart contract platform on the market mean the competition become higher and they will try to be number 1 platform by create more feature and benefits.This is good thing, because crypto users want to have high quality product with more advantages. Currently competitor of Ethereum want to solve is high fee and network problem, and if others project can make it, so user crypto will take advantages from it.

[distr@yopmail.com]

multiple platforms with their own network further enrich and provide many options for the crypto market. Blockchain project developers can adapt to the exact needs of their projects.
market wants are always changing, and that has led to the emergence of a new ecosystem that triggers multiple platforms to meet those needs.
such as the problems experienced by ethereum related to expensive transaction fees and were overcome by the presence of BSC. as well as Polkadot and Polygon who were present to enliven this competition.
their long-standing development in the crypto market will continue. but those who are new, have to provide something profitable if they want to compete.

[serjent05]

Having a competition is good for development, so I think there will never be too many smart contracts.  The worst thing that can happen to development is stagnation.  Without competition, the project developer is not pressured to give their best and will settle with what is in their hand.  With competition, they are forced to think and be innovative.  So the more choices of smart contract platform the better of the user.  So, with that in mind, I always think that there is no such thing as too many smart contract platform.

[dogtana]

Harmony One has smart contracts, cross chain bridges, 2 seconds transaction speed, very high TPS capacity, is secure, decentralised but also backed by Coinmarketcap (who is on of validators) which is connected to Binance that will endorse it. This is the blockchain to rule them all.

[Inkdull]

Yes we have too many smart contract projects in crypto space and they still keep popping up, ETH is the first of its kind that's why it will remain the best, having new features or utility in smart contract can't beat old projects unless the old projects failed, there is something about oldy in crypto space if not BTC and ETH won't still be the 1st and 2nd on coinmarketcap today when many new coins have better features than them.

[OcTradism]

Day after day, I see new cryptocurrencies whose underlying blockchain networks have smart contract features. We already have Ethereum, Cardano, EOS, Binance Coin, Flow, Tron, Polkadot, and many other cryptocurrencies with smart contract functionalities. Sometimes I think we have too many smart contract platforms that would bring no real use cases in the mainstream world.

The causes are not smart contracts or the core or back-bone platforms. Projects need to have creative ideas that can solve real problems in society. Like start ups, crypto companies can not succeed if they repeat what previous projects do and solve.

In crypto ecosystem, many projects are clones, copies of others and no new idea, no new solution. It is why in each branch, the pioneers get  biggest success. Ethereum for smart contract, Dogecoin for meme, Uniswap for DeFi.

Instead of creating a new smart contract platform, developers should focus on building within existing platforms to make crypto land a better place. Yet, developers' mindset is to make large profits in the least time possible by creating a new blockchain network from scratch.

Creating a new blockchain with new technology is great but not mandatory. Blockchain is tool to solve demands and unsolved problems in society.