Arrow icon
Ness Labs: Make the most of your mind
Learn more about Joggo

A Summary of

Platform currencies may soon be obsolete

Aleksandr Bulkin
View original

Within 5 years, application tokens will be the largest cryptocurrency by market cap. Why?

The Current Investment Thesis for Platform Currencies May Be False

  1. It is a mistake to think that network effects matter for cryptocurrencies. Over time, all crypto will work equally well.
  2. Eventually, smart contracts could seamlessly issue tokens on one blockchain in response to events observed on others, making single currencies that serve as a dominant tool for injecting value into ICOs (e.g., Ethereum) obsolete.
  3. Proof-of-stake will make platforms irrelevant and easily cloned as a single node can validate as many blockchains as it has disk space for.
Related content
See all posts
Arrow icon