After a multitude of good crypto projects, e.g., Stellar, Iota, Livepeer and others that actually brought real innovation to the digital world, lately, in my opinion we have stalled.
Obviously many teams are working diligently on projects, but I can't see real innovation.
I say this because a comment by @cryptothesis to a Token Review post of mine piqued my interest.
In fact, the terms blockchain and token are also used out of hand; in fact, @cryptothesis was asking if all these neo blockchains are necessary; the question is objectively interesting: many blockchains means that each is proprietary, consequently a centralization factor comes into play.
Objectively, 3 blockchains (4 when IOTA finishes coordicide) would suffice: Bitcoin, Ethereum and Hive.
We have the PoW benchmark, the Smart Contract benchmark and the decentralization benchmark. With IOTA we may further add tools for making many transactions lighter and automatic.
So? Do we need more blockchains?
Really do not think so
They are not needed, unfortunately, marketing is feeding the UNeducated masses with the wrong messages that will only confuse the average user and result in unparalleled scams.
Basically, pretty substantial damage to the crypto world.
How can we remedy this impasse?
Simple, with information.
We who are actors in this revolution must be the first to "repudiate" useless projects.
My intent with the Token Review column is to try to give impulses to readers so that they too may be able to be able to tell whether a project is potentially good or just a scam.
I bring you an example, before I evaluate a project I am used to reading the Whitepaper: in this official document three basic things must be stated.
- The problem you are going to solve
- The solution to the problem and how to apply it
- A tokenomics demonstrating the project's soundness in terms of sustainability
Take a random memecoin, and find the whitepaper: It is NOT there!
I also find this difficulty in other projects I have analyzed, for example Ecoterra: 40 pages talking about pollution: we all know it exists, since the first industrial revolution!
But what do you propose to reduce it? Well, 4 simple simple pages where they say it's better to use PoS to PoW.
Really brilliant, none of us would have come up with that!
Again, Bitcoinminetrix: I asked a friend to help me by cross-checking to see if when they reached the hardcap you don't fall into a rug-pull.
The feeling that it can happen, in my opinion is high, but I hope I'm wrong (in the smartcontract the masterchef I couldn't find it, for those who don't know, the masterchef is the soul of the project, where you can find "malicious" lines of code like rug-pull, unsellable tokens, etc.).
Mind you, I don't want to engage in unnecessary terrorism, this world has become my livelihood, and as a profession I want it to be treated with respect.
We understand well how it works, and so we can teach our friends or interested people how to do it to see whether they are doing it wrong or not; we are in duty bound to help them.
If we make sure that all the people around us have a chance to figure out if they are going to fall for a scam, we make the life of scammers hell!
Scammers bask in people's ignorance!