Quote:
Originally Posted by eddymitchel
I agree with you that at this point first movers with solid development are super hard to catch up. If lightning network deliver, you can most likely bury most cheap fast coin, once/of they ll add privacy layer to bitcoin alot of the worse privacy coin will take a big dive.
I m less convinced ethereum will conserve a first-mover advantage since they arent that advanced compared to other projects since the bar is much higher than bitcoin.
99% of ICO have useless blockchain and tokens and are shamefull moneygrab so anyway they ll die within a few years.
+1
But side chains could be harder to incorporate in decentralized main chains than many think. As of right now, it can't be secured using the main chain, without putting a centralizing pressure on mining, as miners would have to validate every side chain as well as the main chain. They would be "forced" to do that to maximize revenue, which would be necessary to remain profitable in a cutthroat competitive business.
Federated two-way pegs will always be possible, but then a chain with its own coin and hash power will be more secure. But huge, bloated chains will always be centralized and pointless, so it will be a pretty narrow niche where pretty conservative (throughput-wise) chains, with different features than Bitcoin, are still desired enough to finance enough hash power to be secure.