Cant we all just get along?
The famous words, unfortunately, do not appear to apply to the Crypto Metaverse. New project after project, new blockchain after blockchain, and new token after token are all gunning for the top spot and will destroy all previous inferior ventures. Yet, why? Bitcoin Cash (BCH) and eCash (XEC) (formerly Bitcoin Cash ABC (BCHA)) were both developed with the intention of taking down Bitcoin with its notoriously slow and fluctuating transaction fees.
Ethereum (ETH) is viewed as the savior of crypto and most vital Altcoin in existence or it is viewed as just another antiquated PoW coin with terrible scalability, outrageous gas and miner fees. That's why Cardano (ADA), Solana (SOL), Tron (TRX), Eos (EOS), Binance Coin (BNB), Polkadot (DOT), Avalanche (AVAX), and Terra (LUNA) are the Ethereum killers! That's just naming the most established competitors at that; each day a new cannibal emerges in the Crypto community.
Centralized exchanges (CeFi) such as Binance, Gemini, Coinbase, Celsius, Kraken are all great introductory environments to crypto, providing a custodial service, offering dividends, and easy options for conversion across tokens and fiat. Or they are fascist business models controlling the crypto keys (not your keys not your coin), raking in enormous staking profits with your forfeited coins, restricting your access to crypto withdrawals or even abruptly locking accounts.
That's why Decentralized exchanges (DeFi) are for real traders; those that are serious about their crypto will find their way to the Curve Finances (CRV), UniSwap (UNI), 1inch (1INCH) and SushiSwap (SUSHI). Anonymity, ownership, and governance will separate the serious from the delirious and CeFi will be left with the banks of the past!
Except, Bitcoin instituted the lightning network. Ethereum is phasing to ETH2 PoS, to address environmental and scalability issues. CeFi is for one group (beginners, fiat freaks, etc.) and DeFi for another (professional traders, savvy swappers, validators, etc.); the infighting and cannibalism must end. Reddit and Twitter are filled with innumerable zealots willing to argue tooth and nail over why their crypto, their exchange, their this and that is better than everyone else's.
I don't care about better (especially when crypto is still unregulated and in it's nascence) and I didn't enter the crypto metaverse for a pissing contest; I entered for financial freedom. I am an advocate for these competitors instituting what Capitalism has so woefully forgotten, the competitive market.
Iron sharpens Iron, Steel sharpens Steel, and Blockchains will advance Blockchains, Cryptos will revamp Cryptos. With Federal regulation looming, Cryptocurrencies becoming legal tender and Governments worldwide developing Central Bank Digital Currencies (CBDC) now is the time for unity. Coming together and letting our many voices be heard will make our community undeniable and the Crypto Metaverse will be the better for it!
Let us leave Crypto cannibalism behind and shape Crypto Capitalism into the economic system of the future that WE want.