Community Observation: 2019.08.23
Community Observation publishes insightful opinions and interesting thoughts collected from the SimpleChain community. If you have any thoughts/opinions about blockchain/crypto that you’d like to share, feel free to contact us through our Telegram group.
Recently, a list of blockchain projects that have fallen below the issue price has been circulating. A lot of people are saying that publich chains with no cash flows are “heading to zero”, and tokens issued by crypto exchanges are becoming the most profitable.
I think it is inevitable that a lot of bockchain projects will die and tokens issued by a lot of public chains will turn out to be worth nothing. This is the reason why I only hold BTM and SIPC besides BTC and ETH.
During the bull market in 2017, I was too busy at work to invest in ICO projects. Looking back, a lot of those ICO projects had nothing but unrealistic business models. Then in 2018, there was an explosion of public chain projects, and elites from all walks of life were endorsing all kinds of public chains.
The market was overheated. Even if there were “gold projects”, a lot of them would have been hidden in the sand.
I believe that the blockchain world is no different from the tranditional start-up world. 99% of start-ups are bound to fail and this rule also applies in the blockchain world. The only difference is that blockchain allows more people to become investors and thus obtains more exposure.
I think that only teams and projects working on realizing blockchain’s value in real business use cases can truly motivate their community. Teams with only endorsement but no actual business use cases cannot gain trust.
About SimpleChain
SimpleChain is a PoW main chain with flexible sub-chains. Different sub-chains can adopt different kinds of consensus and block data structure as needed, to support a variety of applications and use cases on blockchain. Sub-chains also support sharding to improve performance. This double-layered structure of one main chain and multiple sub-chains can fuel various applications while ensuring the consistency of the network.
Built on Baoquan Chain, SimpleChain’s first sub-chain, Baoquan.com provides electronic data services including electronic evidence service, online evidence gathering service, and copyright protection platform. Based on the non-traceable and non-tamperable features of the blockchain, the advantages of Baoquan.com is that user data can be permanently stored on the blockchain, independent of corporations.
In June 2018, Hangzhou Internet Court of China judged a case of a dispute over information network communication rights. For the first time, the court confirmed the legal effect of the electronic data stored on Baoquan blockchain, and clarified review methods of electronic evidence on blockchain.
We have launched the mainnet beta version in January (see blockchain browser), and we will be launching mainnet official version 1.0 in Q3 this year. Also, our codes are open-sourced on Github.
Find SimpleChain at:
Website: https://www.simplechain.com
Twitter: https://twitter.com/SimpleChain
Medium: https://medium.com/SimpleChain
Facebook: https://www.facebook.com/SimpleChainOfficial
GitHub: https://github.com/simplechain-org
Telegram Group: https://t.me/SimpleChainEN
