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

[Flowzer]

Yes it is, but its provided so the developers can choose the platform which suit to the projects.
 Also, some of platform have advantages to the another platform.

[dezoel]

It's true that new blockchains are being built daily and it is similar to how new coins were being created after Bitcoin came to light until Ethereum disrupted everything and shifted the development of coins towards the smart contracts. I feel like it is about time when a new technology is launched and then things will move towards that technology. I am not sure what would be better than smart contracts but surely there are new technologies being built every day.

Also all these blockchains add something new, for example, DOT is aimed at connecting various blockchains so it is kind of refreshing although the same concept. Improvement in the previous blockchains is the name of the game right now and although too many, I think every now and then we have a decent coin. I like Tron a lot personally because of free and fast transactions.

[Abiky]

There can never be too much of improvements. I think there are many smart contracts platforms because one is not offering something else. As a result, another is created. This is definitely more good than bad. It is always better to have a lot of options than just a handful.

Ethereum of course is the top platform and is the one that is used widely but there are definitely advantages which could be found in other smart contracts platforms that is not on Ethereum.

In the decentralized and open source world of crypto, it's natural to see many projects come out of existing ones. This is to provide innovation and ramp up the competition in the crypto/Blockchain space. However, sometimes I believe that enough is enough as most of today's new cryptocurrency projects focus solely on smart contracts. Some people say that the higher the number of smart contract platforms, the better it'll be for Ethereum. It makes sense, since competing platforms reduce the burden on the main ETH blockchain. But ultimately, there can only be one winner. And such is the one able to provide real use cases in the mainstream world.

Nonetheless, people will decide which platform to support from the other. Developers need to focus building new dApps on existing smart contract platform than creating a new blockchain network from scratch. With so many platforms available right now, scalability bottlenecks are no longer an issue. This is good because it helps crypto/Blockchain tech increase mainstream adoption at a fast pace. Investors will put money into platforms that are useful for "De-Fi". With how far we've gone since Ethereum's inception, I'd say that the decentralized web is here to stay. Just my opinion

[gundala]

Yes it is, but its provided so the developers can choose the platform which suit to the projects.
 Also, some of platform have advantages to the another platform.

Thats true. A lot or a little is relative, diversity makes positive competition, this is good for the race to bring the best product for the ecosystem, right? A project that is unique and garners attention from the market will last, so don't worry too much about this. There are many burger vendors, but each vendor has a unique taste, and customers also have their own tastes and say "Burger A is the best", while others say "Burger B is the best". That's a simple analogy from me regarding the OP's statement.

[South Park]

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.

Since this market is almost free of regulation and people can release as many coins as they want then there is nothing wrong with having more options, however we need to be honest a great deal of those coins are very similar which means there is not going to be enough demand for some of them and we will slowly see some of those coins disappearing, this is especially true if in the future bitcoin adds those functionalities, so the reason for those coins to exist will disappear completely.

[Tervelatuk]

you are right that there have been many smart contracts created but from that side you should have judged that only a few smart contracts have good potential and my advice is that you don't buy the wrong one and it's better to buy coins that have real potential so they won't make you regret later.

from this various smart contract platform only few of them could build true ecosystem. most of them failed to build this and finally its failed to compete with ethtereum or binance smart chain. we should restrictly choose which platform we should invest or we gonna in shit coins

[Abiky]

Since this market is almost free of regulation and people can release as many coins as they want then there is nothing wrong with having more options, however we need to be honest a great deal of those coins are very similar which means there is not going to be enough demand for some of them and we will slowly see some of those coins disappearing, this is especially true if in the future bitcoin adds those functionalities, so the reason for those coins to exist will disappear completely.

I guess the decentralized and open source nature of crypto/Blockchain tech is what makes developers launch new projects out of existing ones with the aim of making crypto land a better place. As with any innovative technology, there's always room for improvement. Having a single smart contract platform like Ethereum would make things look "bleak". The competition is what's keeping the space alive, improving the Blockchain ecosystem as a whole. This should reduce the network congestion on the main ETH blockchain, as people use other alternatives according to their needs. Platforms like Ethereum, Binance Chain, Cardano, EOS, and TRON have many things in common. But they handle scalability in a different way.

Ethereum is the most decentralized smart contract platform in the world, but it's often slow and expensive to use. Binance Chain is much faster and cheaper than Ethereum, but it's utterly centralized. People will decide which platform to use to participate in "De-Fi". The more smart contract platforms there are, the more diversity there will be in the crypto/Blockchain space. Despite the numerous smart contract platforms in existence, I believe only one shall prevail in the long run. And that would be Ethereum because of its first mover advantage on the market. After all, Ethereum is the platform that started it all. Just my thoughts

[theinvestdude]

because it is very easy to create new smart contracts so there are many smart contracts in circulation but you should know that not all smart contracts have good development, only some smart contracts with projects that are useful for many people will survive and will have the support of investors.

Its not easy to create a new smart contracts, Maybe what you mean is Fork an existing smart contract and use it for your own token or project. As of now majority of smart contract in the crypto space are meant for investors and no real use case for everyday normal life.

[Henrobakkara]

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.

First I would say the same reason we have too many cryptocurrencies with the same functionality.
You said it yourself, everyone wants to make profit of their own, so even when there is something out there that's already offering the same service, let's make our own anyway. We also know that sometimes, Devs might try to put in one or two different thing that might set them aside from an existing Blockchain network and we as investors need that too. It is always good when competition is healthy and for the benefit of the investors.

[deathcode]

because it is very easy to create new smart contracts so there are many smart contracts in circulation but you should know that not all smart contracts have good development, only some smart contracts with projects that are useful for many people will survive and will have the support of investors.

Its not easy to create a new smart contracts, Maybe what you mean is Fork an existing smart contract and use it for your own token or project. As of now majority of smart contract in the crypto space are meant for investors and no real use case for everyday normal life.

you are thinking too far to see how the use of blockchain projects is actually used in the real world.
We have indeed seen too many smart contracts come with the development of existing smart contracts or indeed build their own ecosystem.
but right now we are looking at how all the projects with smart contract platforms will compete with each other to be the most popular.

[Quidat]

because it is very easy to create new smart contracts so there are many smart contracts in circulation but you should know that not all smart contracts have good development, only some smart contracts with projects that are useful for many people will survive and will have the support of investors.

Its not easy to create a new smart contracts, Maybe what you mean is Fork an existing smart contract and use it for your own token or project. As of now majority of smart contract in the crypto space are meant for investors and no real use case for everyday normal life.

you are thinking too far to see how the use of blockchain projects is actually used in the real world.
We have indeed seen too many smart contracts come with the development of existing smart contracts or indeed build their own ecosystem.
but right now we are looking at how all the projects with smart contract platforms will compete with each other to be the most popular.

Competition would always be there even though they share up the same smart contract but the field or industry they are focusing on would really be different.Trying to look on how many projects are existing as of this moment then we can say that there are lots which are flooding out on the market.
Asking if do we really need them? Some are relevant and some are just copycats this is why its important that you do know on how to choose the relevant ones.

Its a bit anticipated that there would be lots of projects that do pop out on the market which would mainly targeting out on getting some marketshare
or recognition in the community.

[devil2man]

in fact there are already many blockchain / smart contract platforms but i believe that each of them also has unique characteristics, peculiarities and then it is always better to have a wide range of choice so for me new platforms / proposals are welcome

[TribalBob]

the more smart contracts isn't the better? everyone can choose which one can provide maximum profit keuntungan
for example bsc he has the advantage of low fees, eth has a very large network and community, and advantages and disadvantages must be in every platform
With more and more smart contract platforms in the market means the competition is getting higher and they will try to be the best platform by creating more features and benefits.

[Dread Pirate Roberts]

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

I don't think that's a problem or a bad impact on the crypto community. precisely with the addition of new innovations. will give something new again for many people and also providing more benefits from it. as example such bsc its really make good impact for eth users and many project.

[Ucy]

I guess any cryptocurrency should be able to have its own smart contract as it's an important/necessary feature of crypto. Perhaps we need unique and improved smart contracts rather than having most of them doing almost thesame thing with no reasonable improvement to copied idea.
What seems to be lacking today is smart contract that can do more advanced tasks without compromising on decentralized. The existing ones are very limited in what they can do

[Davian144]

in fact there are already many blockchain / smart contract platforms but i believe that each of them also has unique characteristics, peculiarities and then it is always better to have a wide range of choice so for me new platforms / proposals are welcome

That's clear, because every platform that has been successfully built will always have its own uniqueness and also its own advantages, because a completely perfect one will always be difficult to find in the crypto space.

[Fivestar4everMVP]

Well, am not suprised, as we all know, man is naturally greedy, everyone wants the opportunity to amass as much money as we can, so when the opportunity shows, this developers seize it without thinking if really there's need for that which they are about to embark on, but on the other hand, it's not a bad thing really, cus it's this same way out side crypto where many same businesses are competing with each for the Supreme power, so personally, I think it's still normal as this will help other ubder-performing blockchains step up their game just like it was with Ethereum when the network got so congested that one can hardly transact without spending over a hundred dollar, this was when binance chain came to our rescue.

[TheGreatPython]

Even if they are, investors are still looking and developers are still creating the Cryptocurrency industry is so huge that new innovation will be welcome here with open arms, so expect more smart contracts project to be created by developers and investors to invest, the Cryptocurrency is still moving forward and we are getting better, with these smart contract-based projects.

No doubt we are getting better blockchains every day but I feel like there are just too many right now. The recent bull run actually helped a lot of coins because every coin was getting enough attention and investors even meme coins.

for now yes, but not for the future. when crypto is already part of the mainstream, we need a new smartcontrac platform. if we just rely on the current platform, the problems that occurred in ethereum will repeat itself.

Crypto is already part of the mainstream and yes there was a problem of transaction fees on Ethereum but that happened because way too many projects were built on it and the number of transactions being made was crazily high.

Ethereum of course is the top platform and is the one that is used widely but there are definitely advantages which could be found in other smart contracts platforms that is not on Ethereum.

I feel like right now TRC-20 is the better blockchain but everyone has their own favorite and ERC-20 is still the dominant one. If I am not wrong the TRC-20 is the busiest blockchain right now in terms of transactions made.

[Abiky]

That's clear, because every platform that has been successfully built will always have its own uniqueness and also its own advantages, because a completely perfect one will always be difficult to find in the crypto space.

Exactly. Diversity is key for Blockchain to succeed in the mainstream world. The more alternatives there are, the better it'll be for Ethereum. Ultimately, there can only be one winner. And such is the one able to provide usability above all else. Despite the numerous platforms on the market, Ethereum's status as the "King of Smart Contracts" has been untouched. This shows us that ETH has some loyal supporters behind it, because it's the most decentralized smart contracts platform in the world. Other alternatives may be faster and cheaper than Ethereum, but they're missing the most important thing which makes a Blockchain a Blockchain. And that is decentralization, reliability, and censorship-resistance. Investors and traders will ultimately decide which coin stays afloat and which coin goes down the drain. I wouldn't worry about the many smart contract platforms in the crypto/Blockchain space as long as the core technology remains decentralized and open for everyone. Just my opinion

[Flowzer]

Yes it is, but its provided so the developers can choose the platform which suit to the projects.
 Also, some of platform have advantages to the another platform.

Thats true. A lot or a little is relative, diversity makes positive competition, this is good for the race to bring the best product for the ecosystem, right? A project that is unique and garners attention from the market will last, so don't worry too much about this. There are many burger vendors, but each vendor has a unique taste, and customers also have their own tastes and say "Burger A is the best", while others say "Burger B is the best". That's a simple analogy from me regarding the OP's statement.

Yep, its good analogy for it. Moreover the projects which deployed on every platform is different.
So, if you want into a project then you need to join the platform.