1/ Contrarian opinion: For utility tokens most of the value will be in the application layer, not in the protocol layer. Let’s take Ethereum as an example:pic.twitter.com/p34RFIbwzp
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Really depends on the level of the rent-seek. If it's excessive, the decentralized nature of blockchains will figure out an alternative. I actually believe the future are dApps with a very low rent-seek that society/the market finds acceptable
I mostly agree. But I the subject of this discussion is the relative value between the dApps and the SC platform. The amount of value built on a platform will exceed the value of the platform, unless it becomes a SoV.
^the big question is can you have a blockchain worth $300B hosting $1T worth of value? Not to mention the fact that PoS systems need to be highly valuable (i.e. SoVs) to be highly secure.
That is exactly why I believe the Bitcoin blockchain (most secure and reliable) will be the blockchain for valuable transfers and smart contracts (via RSK or Multilayer)
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