Sirwin
Sirwin

Ethereum: Finding the needle in the haystack - The forgotten pearls revival Era is upon us

By simpleMINDfull | Nostradamus | 12 Apr 2023


Nostradamus – the self-fulfilling prophecy - this is a true story from your future!

How do you find a needle in a haystack? You follow the thread, which is still attached to the needle, that you still hold in your hand.

In 2017, 6 years ago by now, some great Ideas emerged and sparked exitement. At that point in time, the magic word everything revolved around was: ETHEREUM. Hard to imagine for most today, as you don’t remember because you were not there. This was a time needles in the haystack were easy to find, as there was no haystack. Ethereum was the ONLY smart contracting platform available. Anything smart contract related had to be build for and on Ethereum. Period!

A lot of the projects back then had a moment of fame, when either their token prices shot up fuelled by the fantasy of what smart contracts can do, or some users were actually using those emerging platforms.
Below is not the only explanation why most those projects went down and were forgotten, but for simplicity we take it as the one relevant:

Still today in 2023 Ethereum is congested, fees are outrages, and transaction through put could not possibly deal with the volume success of all those projects would have meant. Remember ETH went down because one single game called ‘Crypto Kittens’ went viral late 2017? No of course you dont’t. Because you were not there.
Glad you are here now. Ethereum ist still here now too. More so, the fantasy of fast and cheap transactions is more alive then ever. April 2023 is the next moment we can witness a big change and hope Ethereum gets closer to where it needs to be.
The moment it does provide high throughput and cheap fees, every smart contract ever deployed on it has a second chance. Because it took so long as it is backwards compatible. Any project that has ever build on Ethereum and was abandoned or fell asleep can catch wind without any changes. Some projects still have a UI running, just no one using it.

To get back to the point of finding the needle. Leave the haystack. Forget all the new, better, faster, and what not L1 smart contracting platforms, for now. Just look for who was here in 2017 and can either be revived by ETH simply fixing their issues. Better even, look who actually has been around the whole time, pivoted and is flying under the radar with all that noise of who is new, next and best.

Let’st start with the orignal gansters which have pivoted and are running under the radar, they might not even need ETH to scale to suceed.

Publish0x.com – I would be negligent if I was not to mention this publishing platform which has steady user growth. Quality content is scarse, but this article serves to help this cause.

SANTIMENT – An on-chain data analytics service. If you pay attention they are frequently quoted in articles such as this: Token: SAN
Santiment had it’s moment of fame at the End of 2017. Today they have a complete suite of products including a decentralized platform that incorporates their token SAN.

ICONOMI – (token formerly ICN) has completely disapeared from any chart display. First they were delisted out of security token fears. Then ICONOMI pivoted to be one of the first projects out there to actually convert their token to a security token which it is still today. The token is really hard to get by, but the platform is live and well. The business model basically a type of Crypto ETF. You are able to review, asses and follow different strategists and their fund portfolios.

Now we get to the projects that were once hot, still have a working product online but no one uses it. They have deployed on ETH, partly pivoted to Polygon and whether the team fell apart is an open question. I however claim, that in the open source space, teams can quickly reassemble if something that was build years ago is all of sudden getting the always expected traction. Which it well could if transactions are a dime for a million.

AUGUR – Prediction market. Token: REP

District0x – Decentralized market places framework. Token: DNT

Bounty0x - A fully working bounty hunting platform. Extremely important and helpful for the space if there was traction. This is a wild bet, but probably the most promising one if it revives. Token: BNTY

Etherisc - Insurance was a hot topic after a few hacks in late 2020. No reason it should matter less now. This project however build a framework for all types of insurance, beyond DEFI. Token: DIP

The Shapella upgrade is upon us today. With all that pondering around whether everyone will withdraw and sell, I am asking this question:
When you consider that most of the stakers are at break even or loss, today, and the overall market sentiment is bullish as of today, do you actually think stakers will withdraw and sell in troughes? Remember they actually came to get staking rewards in the first place, which they will still do. Or is this possibly priced in by now, and we are finally looking at a sell the rumour buy the news chain upgrade which will catch some off guard?

It is the later, I prophecy!

So long, writing to you from your own future! Be brave.

Original source

 

 

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simpleMINDfull
simpleMINDfull

Simple - MIND - ful(l) These 3 meanings describe the sole purpose of this being. Create Simplicity through twisting!


Nostradamus
Nostradamus

Nostradamus was predicting the future by using his educated eye for obvious occurrences, he as a doctor was not able to deny. More about Nostradamus on odysee: https://odysee.com/@Nostradamus:8

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