Twelve years in the past, everybody on Wall Road carried a BlackBerry of their pocket.
This early smartphone had a 4-inch display and a full QWERTY keyboard. It additionally had a rollerball mouse that allowed customers to navigate electronic mail, learn textual content messages and play an addictive recreation known as Brick Breaker.
In 2009, BlackBerry had a 20% market share of your complete smartphone market. Right now, it’s as related as Blockbuster Video.
My level right here is that Apple didn’t invent the primary smartphone. It made it higher.
This isn’t the primary time an organization confirmed up late however got here to dominate a brand new know-how.
Amazon didn’t invent e-commerce. Tesla didn’t construct the primary electrical car. Google wasn’t even a public firm throughout the dot-com growth.
These firms succeed by taking present know-how and making it higher. Essentially the most profitable firms aren’t all the time those first to market.
I consider we’ll see the identical blueprint within the cryptocurrency market. Simply because a cryptocurrency is first to market doesn’t imply it’s the winner in the long term.
This yr, we’re already seeing this battle play out in one of many largest crypto sectors.
The Constructing Blocks of Internet 3.0
Not too long ago, El Salvador turned the primary nation on the planet to undertake bitcoin as authorized tender.
This clears the best way for six.5 million Salvadorans and lots of of hundreds of companies to pay taxes and different money owed with bitcoin.
This can be a massive deal for El Salvador, which has spent the previous 100 years coping with one foreign money disaster after one other.
However crypto’s largest impression received’t be from its use instead foreign money. Somewhat, it is going to reshape your complete web with the arrival of Internet 3.0.
This new paradigm will change the best way we use digital companies like community bandwidth, storage, digital identification and even finance.
And the constructing blocks of Internet 3.0 begin with Layer 1 blockchains like Ethereum, Cardano, Terra and Solana.
Right here’s a chart that reveals these Layer 1 chains over the previous three months.
Ethereum was first to market, however now the competitors is beginning to catch up.
Consider Ethereum Like Lego Blocks
Buyers are starting to understand that the marketplace for these cryptos is so massive it is going to take multiple Layer 1 resolution.
Consider Ethereum like Lego blocks — they arrive in customary sizes and styles which can be interchangeable. That’s Layer 1.
If Ethereum is Lego blocks, then Layer 2 could be the Lego Millennium Falcon set.
Cardano is one other Layer 2. If Ethereum is Legos, Cardano is like Lincoln Logs. Each child had them, however you can solely construct log cabins.
Solana is an Erector set. It will possibly execute 50,000 transactions per second. That’s over 1,000 occasions quicker than Ethereum in its present type.
You get the purpose: Legos are in style, however there are completely different constructing blocks for various tasks.
Whereas Ethereum has a strong head begin, historical past has proven its dominance received’t final.
Editor, Strategic Fortunes