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Author Topic: What the Cryptocurrency Market can Learn from the Automotive Industry  (Read 23 times)
Psilocybin9 (OP)
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October 25, 2021, 05:24:30 PM

The whole crypto market seems to be growing at an incredible rate, and more blockchains keep getting added in. A lot of people in the space seem to be uncomfortable seeing so many new blockchains getting into the market, but I think this is actually a great step towards helping this industry truly mature.

Think of it this way, if we only have one car manufacturer sourcing cars into a town then that doesn’t leave the town with a lot of options, and a lot of people will be left dissatisfied. A car has many different aspects such as fuel efficiency, reliability, price, looks, and much more. It's nearly impossible for one car manufacturer even with all their makes, models, and years to make a car that will be the best in every single one of the aspects of a car, thus we have so many car manufacturers in the world. Each car manufacturer tends to focus on only a few aspects of a car, and hopes to become the best in those particular areas. 

Similar to the car industry, the crypto space has hundreds of use cases, and some of them are very unique compared to others.  It’s simply impossible for any individual blockchain to be the best at every single use case in this space. Some great examples of this are: Polygon's scalability has created an excellent blockchain for DeFi, Solana has a strategic edge in NFTs, and Persistence has created an ideal blockchain for interoperability.   

These are just my opinions though, and I am curious to know what you guys think.
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