Ordinals Developer: Given enough time, network effects will always make one standard more successful than others
Developer Leonidas of Ordinals posted on X platform stating that there is the 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 go to zero and cannot be restored. Ethereum does not have dozens of interchangeable and non-interchangeable 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 don't use or publish any other meta-protocols. Although some of them are interesting in terms of technology, I don't think any of them will become the de facto interchangeable or non-interchangeable token standard for Bitcoin. I may be wrong, but in other mature Web3 ecosystems, even if they make interesting trade-offs technically, there is no good precedent to prove that a source code has multiple popular standards. As long as there is enough time, network effects will always promote one standard over others.
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.
You may also like
Musk has amended the OpenAI lawsuit to include Microsoft as a defendant
Avalanche Foundation Launches InfraBUIDL() Grant Program for Core Infrastructure Developers
Musk's government efficiency department will live broadcast weekly progress reports
VanEck executive: Solana ETF is highly likely to be listed before the end of next year