Crypto: More Like Land Than Tech
As the crypto industry progresses, it becomes increasingly evident that it operates more akin to land than traditional technology. This unique attribute sets it apart, creating a landscape that is both chaotic and inevitable.
The Crypto Landscape: A Frontier Town
Each layer-1 blockchain, whether it’s Ethereum, Solana, or Bitcoin, resembles a frontier town in a newly discovered land. These towns start rudimentary, attracting developers, investors, and infrastructure teams who see the potential value of the land despite its current risks and volatility.
Layer twos: Building Infrastructure
Layer 2 solutions like Arbitrum, Optimism, and ZKsync serve as the roads and railways that connect these frontier towns, making them more livable and appealing to settlers. These technologies play a crucial role in smoothing the rugged terrain of layer-1 blockchains.
DeFi: The Mercantile Economy
DeFi protocols act as the general stores, trading posts, and banks of the frontier, enabling value exchange, infrastructure development, and speculation. Though risky, they are essential in kickstarting the local economy of these blockchain towns.
Blockchain x AI: Uncovering Hidden Value
With the rapid advancement of AI and growing concerns over centralized AI dominance, the intersection of blockchain and AI opens up a new frontier. Projects like NEAR, Peaq, and Akash are exploring the potential synergies between blockchain and AI to unlock hidden value in the machine economy.
Challenges of Mass Adoption
Despite the potential of crypto, mass adoption remains a challenge due to issues like high gas fees, poor user experience, and overall complexity. Venturing into the crypto frontier demands conviction and a high-risk tolerance, dissuading the average user from immediate entry.
The Frontier Takes Shape
Viewing crypto as a land expansion rather than a conventional tech cycle illuminates its chaotic yet inevitable nature. While not every outpost will survive, the convergence of technologies like AI signals a continued gold rush in the crypto landscape.
Carolyn Rogers, a seasoned marketing executive in the crypto industry, underscores the importance of recognizing crypto’s unique characteristics and the implications of its land-like behavior.
