Crypto’s “middleware protocols” are developer geared protocols that provide services in addition to the consensus & core functions of the base layer blockchain.
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@0xProject has been doing pretty well for itself. -
if that’s the best example you have then I’m afraid your middleware thesis isn’t gonna pan out. these middleware layers will never be even 1% as big as base layer money coins. Also 0x is ridiculously overvalued. It’s “governance” is not worth $630M, and you know it
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Base layer money coins will be massive, no debate there. My point is more that some middleware protocols will grow to be bigger than many of the newfangled smart contract platforms that don’t achieve SoV / UoA supremacy.
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That I can agree with though value accrual for vast majority of middleware layers Ive looked at is still dubious. If its not equity-like, value accrual is tough, and even then, competition will drive fees down. Question is, why hold token? Work tokens fit sometimes but not always
End of conversation
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