Contents
A. What is blockchain?
B. None of the Dapps give value to the world
C. The first platform to release Dapp, which gives value to the real world, will dominate the market
D. How to Choose a Real Blockchain
D. Finishing the article
A. What is blockchain?
Blockchain? Eventually, It is one of the technologies that stores data.
It is not more than that, it is not less - it is transparent, and since data is distributed and stored, it is secured. Because it's impossible to cheat, people can do a lot of things that they could not do because of trust issues on the Internet.
B. None of the Dapps give value to the world
What is reason of declining cryptocurrency market?
Notice that there is no commercial Dapp gives value to real world now,
Every projects promised platform that uses block-chain technology and they will change the world.
But until now, there is no Dapp that uses blockchains to give value to the world.
(There is only an idea, no working Dapps.)
Why? Why not?
The law is not a problem because there are countries with weak regulations.
Finally, technology.
However, there are many projects that do not have the technology and only do marketing with the whitepaper that can not be judged.
The market has to judge the scams, but it seems to be not easy, because all the investors have only one idea that make their profit. They invest on every token if it is made by famous influencer. However, the blockchain platform created by the famous person has never created Dapp, which is actually working and gives value to the world.
So there are a lot of scam projects.
At present, it is similar to election.
You have to invest it after investigating and studying the project, but most are not. It likes you are voting for a politician only looking at poster pictures, with eyes closed ears are blocked.
Until a blockchain is used to deliver value to the real world, the market may continue to decline.
C. The first platform to release Dapp, which gives value to the real world, will dominate the market
We can not fully assess the value of the intrinsic value, but we call it a bubble that is unrealistically high.
If you believe in the future of the blockchain,
You need ability to evaluating project by technology, not by the marketing or fake paid news.
As this project has a lot of money, so the team will find for a solution anyway?
There is no such thing in software development area.
A few people having right direction and a proper architectural design shows better output than the thousands of core developers who don't know the what the problem is.
For example, a mobile OS developed by Microsoft with IT talent in the world has failed,
Android, created by few developers, has been recognized by Google for its technology and has gained huge mobile OS share.
- OS market share as of 18year 1Q: Android 86%, IOS 14%, Windows 0.1%
If there comes platform on which real apps can be made, the scams will be dissapear slowly.
As early entrants gain a share of the market, it can be expected that discipline-specific daps will be created quickly on the first available platform.
D. How to Choose a Real Blockchain
a) Projects using POW can not be a blockchain platform.
POW is not suitable for applying blockchains to your business.
We have to provide the world with more profit than enormous energy to use POW
As seen in the case of bitcoin, it increases exponentially over time to maintain the network. Companies can not afford energy.
There is a reason that Ethereum is going to go to POS.
If commercialization of Dapp on POW platform sustained over 5years, I'll eat my hat.
POW power consumption cannot be supported.
So the bitcoin cash ABC made by Jihan Woo can not be a usable platform either.
b) It is not a blockchain to give up the advantage of decentralization, which is an important advantage of blockchains.
Power consumption of POW is a problem, and eventually POS should be adopted to blockchain but what the BS DPOS is up. I am sorry, but it is better for companies to using a trustworthy simple DB consists of computers than DPOS network.
Blockchain's advantages are near zero downtime system, transparent and secure, and all this advantages comes from decentralization features of blockchain.
Someone said that DPOS gave up decentralization took bigger TPS like a Columbus egg. Let's think carefully. When Columbus erased the end of the egg, it is no longer a sellable egg, and as soon as the block chain project abandons decentralization it is no longer a blockchain project, and we can not take advantage of the block chain we read in the book.
Why do you use blockchains if you give up decentralization?
In addition, they are telling people as 100,000 TPS is possible it has greater scalability than Visa. Don't believe lie. As there is the process of consensus, it is never faster than using a simple DB consists of 21 cumputers.
If you read about the benefits of a block chain in a book, plz put your hand on your chest,
and think carefully. You are deceived.
The market is still gambling house in race track.
Regarding those project, not only can not be commercialized,
the platform's whitepaper claiming 100,000 TPS states that they are not responsible for any failure of the platform.
One more thing, please describe the advantages of using 100,000 TPS platform than just DB for companies.
Why should company use a 100,000 TPS platform, which is not a blockchain, and is slower than just DB? but why it is not possible?
Some people say there is no POS algorithm that works well,
But there was the first POS launched in 2013 and has been in operation for more than five years,
There are also validated algorithms for multiple security attacks, including N @ S.
c) There must be a solution to solve the blockchain bloat.
Block chain bloat is a problem in which the node data increases because the number of blocks containing transactions increases over time.
Certain projects are said to do hundreds of thousands of TPS and people believe that it is the scalability solution of the blockchain.
Assuming hundreds of thousands of TPS per second and 100 bytes per transaction, how much data do you accumulate per year?
The problem of block chain bloat is a problem for all blockchains, especially for platform blockchains.
(Because there are many transactions from multiple Dapps)
A solution to this block-chain bloat would be key to launching working Dapp on business.
(There is no business want to use platform that can only be used for 10 years.)
Here is the solution.
The block chain of the platform leaves the consensus process on the main chain for the multi-chain case,
In the case of a subchain block, it contains subchain transactions and anchored on main chain using hashing.
Even if you erase a subchain block datas, it does not affect security of main chain(a technique called pruning.
Another solution is to periodically flush data through a hard fork, which is not possible if multiple dapps are running at the same time.
d)What is wrong with etherium?
If you look at various things in upper, it is likely that ETH will launch first Dapp gives value to real world after switching to POS and implementing Plasma.
When did Etherium announce the switch to POS?
Did ETH suggest the first multi-chain (Plasma)?
When will Ethereum be a usable platform?
Google it.
e) A Dapp which gives real value to the world will be released soon.
But there is a problem that public only see massive marketing, so scam are marketing aggressively.
That's the current crypto-currency address.
The public does not think about technology.
They concerns about short-term profit. Yes, for now. right.
But keep in mind that as they believed future of blockchain, they invested.
If a platform launch real use case dapp, will it change something?
Where will scam projects go then?
I think scam will never admit that I have no technologies.
On the white paper, there is a disclaimer of liability even the development fails.
And there is a magical term called 'developing now'.
Finally, there is already project with POS and multi-chain, block-chain bloat solutions.
And it will launch first Dapp which can give value to real life in 40 days. (January 10, 2019)
E. Finishing the article
As you can see in my id, I'm managing a Korean community of certain platform coins.
Not on this project, but based on the above-mentioned logic
I think the platform that will launch the fastest practical Dapp will be the captain.