[Vlog] Crypto & Cardio #1 - EOS and the 'messy' birth of decentralised Blockchains
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Messy birth
With the upcoming launch of the EOS blockchain happening imminently, it got me thinking about blockchains and their launches. There have been a lot of 'messy' launches over the years and we shouldn't be surprised if is no different in terms of having a messy birth.
I think of it like having a child. Once the child is born it is a beautiful thing. However if you've ever witnessed a women in labour (of if you've been in labour yourself) - I've witnessed my wife going in labour three times - you'll understand that process gets pretty messy!
A similar analogy applies to the launch of decentralised public blockchains.
A stroll down memory lane
If I think back to when I first got into the crypto game, the first big blockchain launch I remember was when Dash (Darkcoin) as it then was, was launched. There was a hole bunch of controversy around whether the developers pre-mined/ ninja-mined the coins.
When Monero first launched, it was a community response to perceived issues with bytecoin. Monero was launched under a different name when it started and I remember when Crypto Zoidberg (the Boolberry developer) had to help patch a Monero exploit in the first few months. Monero has gone on to strive whereas Boolberry barely exists today.
I remember the controversy around the Nxt launch. I'd call Nxt one of the first major ICOs (before the term ICO was a thing). Hugely controversial in terms of the concentration of coins in the hands of a handful of holders. However it didn't stop Nxt from being a major player at the time.
The list goes on...
Baby steps
At the time of these launches and controversies, it seemed as if the problems were virtually intractable. However as time passes, these launch problems are regulated to footnotes. As parents to these blockchains, we - the communities - tend to develop amnesia to the pains of labour as we see our fledging blockchain take their first baby steps. It is what happens in the months and years subsequent to launch that really define whether a blockchain will be successful or not.
EOS launch 'should' be a mess!
I will be absolutely amazed if there there isn't a hiccup or controversy or two surrounding the EOS launch. A decentralised, public blockchain, built and accepted on a bases of consensus, should by definition be messy. There is no individual, single point of failure launching it. And even where there is, for the blockchain to work it must be owned by the community in a decentralised manner.
So my takeaway today would be, don't expect block.one or the eos community to squat over and pop out a eos blockchain on June 2nd. Expect a messy, potentially protracted birth. Expect a bit of drama and FUD. It's not unusual in crypto for these things to happen. Just as it's not unusual to see a lot of drama in many a delivery room as babies are introduced in the world.
Long term the proof of the value of a blockchain will not so much be around the launch (although that's important), it will be how the chain is used when we agree on a Mainnet going forward. That is the nature of decentralised systems. They are not going to be 'clean'. You're not going to get a CEO making unchallenged decisions from the top down, making sure everything happens to schedule. It's going to be done by a community. A community of different voices and interests that will need to come together and make sure the launch is successful.
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Usually the beginnings are hard, the births are always full of expectation, mixed feelings, drama and controversy, this release will surely give a lot to talk about, we'll see how prepared we are to receive them, time goes by quickly so we have to be aware of all the details, by the way I see that your training is going great, congratulations for your approach.
Thanks @melvadg 👍 I agree, it would be amazing if there weren't some kind of drama/ controversy. I do think that over the long term the project will succeed regardless of any launch difficulties.
Sometimes, I'm tempted to think that the big bang of true decentralized blockchain might not necessarily be EOS.
I was taught in my undergrad class how Netscape and its ilk had all the hype, big IPO and all that in the 90's but the relevance was only short-lived as basic browser coding eventually became what every Tom Dick and Harry could do.
Well, I hope EOS truly lives to the hype and expectations because I believe after the birth, there is the "toddling" stage. And the performances in these stages can't be the main determinant of its awesome application and usefulness. Although, real time delivery of its promises is good too.
Well, what can man do other than to patiently wait and see how it all unfolds.
I think there is an opportunity for EOS in it's 'toddling' stage. The next 12-18 months is a great opportunity to on-board app developers and entrepreneurs eager to build things in this space but lacking a suitable platform.
All fingers are crossed. I particularly, i'm excited about the dawn of true decentralization EOS has brought upon us.
@nanzo-scoop Seems EOS is the crypto getting all the headlines this year and it's growth has been exponential in a rather dull market this year too.. I'm somebody who feels like he missed the EOS bus. .. The platform looks good and it seems to be finding a lot of takers, and who knows, might just knock out Ethereum someday given its advantages over Ethereum .. Thinking of waiting for a dip below $10 to get in..
Predicting a dip... one of the hardest things in crypto... I'm still waiting for Ethereum to dip below $2 again! 😂
haha.. I can see where you are coming from..
Eos can be the blockchain nuclear! I am Very worried @nanzo-scoop.
I not worried... I think EOS will be a great addition to the crypto eco-system, however I think it is prudent to be cautious, in the early days at least.
Thanks, better be that way!
I agree with you on this. I also expect a messy start of EOS but I believe it's going to be great at long run.
So far, I've invested moderate on EOS though I'm planning to increase my investment latter. Let's see how it goes
Expectations are really high on EOS, I hope they leave up to it.
Fantastic if it's going to be done by a community. Also the nature of decentralization must be based on cognisant agreement so as to regulate the blockchain around the lunch .
All set, done and expecting anything!
Even a small baby has to go through tough times. However, we have to stick with it and defend it if needed.
👍
But if there is disorder at birth, will that cause the coin to go to the ground? or even this currency is so popular that the same will continue to grow and leaving small investors out of the purchase range :(
If the technology is solid and the fundamentals are sound, it is rare for a coin to go to ground. If anything disorder and a dip may lead to a buying opportunity.
If EOS grows, small investors will still be able to purchase it (even if it is a fraction of an EOS) and grow with it.
I had 32 EOS but foolishly I could not register them and now I lost them :( and what I cost to buy them, now I will be buying small fractions to have some.
It is always wonderful to read how people ran their crypto journey from the early days, it seems like you have been though a lot huh? I didn't know that Dash was called Darkcoin at all.
I have invited you to the Minnowbooster Whitelist program and upon approval you may start to buy votes from MB which is having the highest ROI in the market now.
I've seen my fair share of drama, however I'm sure there are many people who have been involved a lot longer than me that can tell you even more!
:D