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Ordinals Developer: As long as there is enough time, the network effect will always promote one standard to be more successful than other standards

Ordinals Developer: As long as there is enough time, the network effect will always promote one standard to be more successful than other standards

2024/04/02 06:02

Developer Leonidas posted on the X platform, stating that there is a Runes token protocol created by Casey Rodarmor on Bitcoin, as well as derivatives of Casey Rodarmor's Bitcoin protocol. My intuition is that once this cycle ends, the latter will become worthless and can never be recovered. Ethereum does not have dozens of replaceable and irreplaceable token standards; it has ERC-20 and ERC-721. If you want your project to be seen by many people, then you must deploy it on the standard with the strongest network effect. This is why I do not use or release any other meta protocols.

Although some of them are technically interesting, I don't think any of them will become a de facto replaceable or non-replaceable token standard for Bitcoin. I might be wrong, but in other mature Web3 ecosystems, even if they make interesting trade-offs technically, there isn't a good precedent proving that an original code has multiple popular standards. Given enough time, network effects always promote one standard over others.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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