Now let's not get hyper and try to prove me wrong data wise. I have been looking at Ethereum and the other smart contract blockchains and noticing a pattern. All of these blockchains out there in the market are in the edge of collapse and that could happen any day. Luna already crashed, TRON may go down if USDD fails and Cardano may follow suite if they failed to deliver.
I remember the time when Ethereum was under 1000 USD and it used to have those cycles where it was kind of volatile to invest into it. Then coin burning happened. And more new tokens also got created and the potential of the Ethereum was visible from that point onwards. So why do I think Ethereum stays Titan from this point onwards?
Here are my observations:
Smart Contracts, Tokens and NFTs
Ethereum started the trend of smart contracts, oracles and many other innovative features in it's ecosystem. They kind of set the standard for the market to follow. Every big token out there thinks of deployment on Ethereum. Hell even MATIC is on layer 2 solution of the Ethereum. Many NFTs are finding first home on ethereum.
You can think of the innovation and you would find it in the Ethereum. A lot of tokens that are released by games and the metaverse also making use of the Ethereum for their economy. This means there is a lot of opportunities on the layer 2 solution of the Ethereum. If you are going to see the innovation and the progress, you'd find it with the Ethereum in near future.
Commercial Use Case of Blockchain even in Recession
Recession has hurt the crypto lot worst than before. Because during the 2008 we had not so strong recession. We had pandemic before the recession could hit the world. You may find that commercial use of the blockchain is going steady. Even the govt around the world are getting into the blockchain. And they are making use of the Solidity language and Ethereum like base for making their own chains.
As you can see there is going to be a huge development in near future with the Ethereum. So you are going to be noticing first changes in this space that comes from the ETH. We may also see the POS being completely taking control of the Ethereum. Which also means that we would have much financially and environmentally usable side of the Ethereum.
Developers Sandbox
Almost every chain these days tried to have some sort of compatibility with the Ethereum. Like say SmartBCH, ATOM and few others. All of them are kind of supporting the Solidity and try to stay as a bridge. So you can easily use some of those blockchains through the Metamask too.They kind of appear as a layered solution yet stay independent off Ethereum.
In near future this would make a part of evolution which makes use of the Solidity and Ethereum's core principles but they may come up with some really good solutions in the blockchain space. It may take some time for future innovation now that we have strong recession and crypto is taking forever to recover.
I feel Ethereum has set up a good direction for the future blockchains. And those chains which are just designed to be pump and dump may not stay forever and Ethereum based solutions would be something a lot of people would look upto for the future problems and their solutions.
Do you think Ethereum would remain a titan or it'd pivot? What's your opinion?
