The race for dapps intensify with Binance CEO inviting dapps to come on-chain.... Can Steem and others survive???
The race for dapps intensify with Binance CEO inviting dapps to come on-chain with the promise of technical and financial support.
BNB will migrate to Binance chain. We encourage other ERC20 tokens to migrate to our chain. It is faster and cheaper. It is super easy to create a token on Binance chain. We will subsidize some of the coins to move to our chain. We will support with marketing. You will have Binance as a partner. Early project will have big benefits. 8 projects already confirmed to move to Binance chain.
This developments certainly sets up an interesting battle ground for dapp development and deployment. I believe for now given Binance weight in the market and its ability to attract capital, this deal could lead to many dapps jumping ship.
Currently these are the leaders with regard to dapps and users base--> Ethereum, EOS, Tron, and Steem. There are also other chains building a strong user base and enjoying solid trading volume. On the technical side, the battle is fairly even with EOS leading the way in terms of throughput. One advantage Steem enjoys over other projects is a solid user base with global presence. Ethereum also enjoy a global user base but more importantly is gifted technical team. Tron on the other hand may end up being one of the silent winners as its a marketing and partnership giant within the space. Tron also enjoys significant price appreciation and impressive trading volume. The contest certainly looks exciting
I believe in the end, the winners of the dapp adoption race would be the project that enjoys significant trading volume with the ability of dapp users to move in and out of crypto to fiat and vice versa with ease. Its hard to pick a clear winner, EOS is certainly ahead technically but Ethereum has been rolling out upgrades that has seen throughput rise amazingly. I also believe the quality of the dapp and the global impact could also help define the winners of adoption, the dapp that gains adoption like a Facebook and Twitter could help spur significant investment that helps the native blockchain. The native blockchain now would analyze dapps gaining adoption and those capable of having major impact as the ones that they would continue to support and make significant financial contribution or lose it to the competitor.
Steem needs to break free with improvements in trading volume and price. It has dedicated community that it should not take for granted, a parabolic move here and there certainly helps improve sentiment, the crypto way of excitement and approval. The community would continue build the dapps and maintain their loyalty as they have been doing. Lets see what the Steem team have in store and the witnesses can better utilize the tools the Steem blockchain has to work to reap the best possible outcome.
Im curious how this will play out since Binance is such a huge player in it all
Will this go over the heads of others or will it all just enhance each other
Binance wants to be a TOP5 coin, this is just the beginning, they won't stop now and they have the cash to burn
I really don't see a future for blockchain like Steem if they don't get the act together, its like what's the point of building here if you would never realize the gains of it. Compared to Binance chain, where you get both technical and financial support.
As I see it now, Steem is just a slow sinking ship, I highly doubt there would be any SMT come the 15 of March and there is a team and company to run, so whatever value the token gains over time would slowly be drained as they keep up with cost. Soon dapps would migrate to the chains that gives them the best possible future, for now, its all wild wild west. The witnesses and with the Steem team just throwing out ideas hoping to catch the hype train, they definitely can't compete with EOS and Ethereum already has its base. They need to start making some serious sacrifice on look at their business model or else it would be a slow and painful fall for many who continue to hold on. I wish them the best as always but they aren't using their tools and its business as usual from what I have seen