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It's like this currently, but it doesn't have to stay that way. You could have multiple cryptocurrencies which support the exact same public API and clients co

It's like this currently, but it doesn't have to stay that way. You could have multiple cryptocurrencies which support the exact same public API and clients could figure out their relative values automatically by crawling DEX markets (looking at current prices and daily trade volumes). People who do business internationally are already used to the idea of accepting payment in multiple currencies - With the right set of tools, the friction involved in accepting different cryptocurrencies (e.g. within the same ecosystem) can be reduced to nothing, in fact, it might be a profitable competitive strategy for a business to accept more different cryptocurrencies (they can charge a big premium for accepting more exotic/low volume tokens).

CryptoPunk 6y ago
>>You could have multiple cryptocurrencies which support the exact same public API and clients could figure out their relative values automatically by crawling DEX markets (looking at current prices and daily trade volumes). Transmitting between ledgers is associated with a cost, due to the capital requirements that make inter-chain bridges possible. Look at the current attempts at such bridges, like Connext: they require individuals to run 'routing' nodes that faciliate inter-chain transfers by locking collateral in multiple chains to act as liquidity. There is a cost to this, that doesn't exist when two parties are transacting on the same ledger.