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RE: The Big Long – Owning Networks vs Owning Companies – 03/22/18
Great post my dear @helikopterben,
You are right on most of your points. I always had one small issue concerning this open-source code on CryptoBlockchains.
Do you think it means that the dominating blockchain would have to consistently prove that it is the best through upgrades, governance...
Or do you think at one point once we have a dominant blockchain to build on and that works fine then, the network effect will make it the only to succeed and generate money, attract taelent and brands? (As in the case of GAFAS).
Take care and Keep Steeming!
@vlemon
I think, because of synergistic network effects, we will see one chain become dominant over time. I could be wrong and this depends largely on scalability. Spillover effects from lack of scalablility could cause this dominating chain to lose market share to competing chains.
The code can be replicated, but it should prove difficult to fork the code and compete against the incumbent. IMO, bitcoin has been obsolete for years, and it HAS consistently lost market share, but it is taking time for superior chains to overcome bitcoin... and there is a chance that it may never happen. I think in the next 5 years we will see a superior chain overtake bitcoin on all metrics.