The Cryptospace Is Undergoing Beyond Exponential Growth
Dr. K’s Crypto-Corner by Dr. Chris Kacher
The pace of growth in the cryptospace has never before been seen in any industry, and well exceeds growth in the internet space, as the open source mandate of the cryptospace allows other cryptocompanies to steal and improve upon existing code. Everyone gets to build on top of existing structures. This combined with the capitalist incentive model makes for the fastest exponential the growth curve ever observed. Another way to say it is the doubling effect noticed by Moore’s Law occurs in a shorter span of time. To add fuel to the “fire”, never before have so many top minds migrated into a new technology.
Some wanted to know about XNET which is traded on the NASDAQ. XNET has launched ThunderChain, an improved blockchain infrastructure the company says can concurrently conduct millions of transactions per second. They achieve this by taking advantage of cloud computing and blockchain technology which enables them to make multiple transactions on multiple chains. So keep an eye out for this, and in the months to come, other companies that may trade as a stock but have exposure to blockchain technology.
Because any blockchain based technology can be copied, the technologies which win will be the ones that achieve network effects the fastest. Thus, “Ready, Fire, Aim” should be the go-to-market strategy of cryptocompanies. This style proved successful with Microsoft though in a far less competitive era that did not move at a fraction of the pace of the current breakneck speeds of blockchain development.
As one example of how to achieve the network effect quickly, the encrypted chat site Telegram recently published a paper claiming that they would solve every major technical hurdle in crypto including privacy, scalability, bandwidth routing, distributed compute/storage, and more. The claim is real because Telegram doesn’t need to create any of these technologies. They can just legally steal from other companies then incorporate the open-source technology into the Telegram app. Telegram has over 200 million monthly active users (MAUs) so already has a powerful network effect in its favor. Telegram can then issue its own ICO currency as an incentive to accelerate adoption of its platforms.
Now replace “Telegram” with “Facebook”, “Instagram”, “Snapchat”, “Android” or “iOS.”
So just as Telegram has done, any company that already commands huge audiences can greatly benefit from the crypto revolution purely from this network effect. The smart companies such as Amazon are already taking advantage of blockchain through their AWS services.