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Governments have a monopoly on issuing fiat currencies, but for PoS cryptocurrencies there is no enforced scarcity—any DApp that can run on Ethereum can easily
by jkhdigital 6y ago
Governments have a monopoly on issuing fiat currencies, but for PoS cryptocurrencies there is no enforced scarcity—any DApp that can run on Ethereum can easily run on any of an infinite number of Ethereum clones, so why bother using the expensive congested network?
- mratsim 6y agoI think you have the chain of causality wrong. The Ethereum network is congested because it has users. Ethereum has the critical mass and first mover advantage. The clones need to be sufficiently attractive (10x ?) to break that hold, it's not a technical problem but an economic, marketing and educational one. Scarcity is unrelated to network congestion or usage.