It is a thought I had for some time and I have not found the answers ;) After this post, The Alternatives To Ethereum – “ETH Killers” by By Scott Cunningham, I thought of adding a comment to it, but I may be wrongly assumed that Scott is not a developer. So I have decided to write it as a separate post :) Thank you Scott for the analysis. It is a nice comparison.
In my view, smart contracts are in their infancy. I would like to see a comparison from the developer's view.
If someone has an idea to develop a smart contract, then where do they develop it?
Dot-com bubble
It was interesting you compare it with the .com bubble with smart contract. A lot of sites and applications developed thinking it all can be a new business. Most of them failed. As Scott mentioned only the useful firms survived. But the inquiry is how many of them are layer one?
In my understanding, the layer one equivalent of dot coms are web servers and programming languages. They were the facilitators for the dot com. If my research is right all of them survived dot com bubble. Again they have the use. That is the reason they survived. I am not disputing that.
Lack of developers available for smart contract
In my understanding most layer 1 chains(including Ethereum) use solidity, and there are not many solidity developers available in the market. If you see the existing popular smart contracts they all are started by developers. When smart contracts are in demand that is not the way the industry is going to grow. A lot of people have ideas they want someone else to develop the applications.
Here is the advantage of Cardano comes in my view. if my understanding is right it is based on Rust and which is a very popular developer language.
To make a comparison. Java is not the best programming language in any comparison, it is just the best-marketed programming language for the past 25 years. If anyone wants to write an application there are plenty of developers available to write and maintain the code. I think that is the only reason a lot of projects are written applications still in Java.
Just random thoughts what do you think?
