Blockchain in 2019 will be all about the middle-layer protocol

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Blockchain in 2019 will be all about the middle-layer protocol Anonymous Sun Jan 27 11:42:15 2019 No.12568545 [Reply] [Original]

https://venturebeat.com/2019/01/26/blockchain-in-2019-will-be-all-about-the-middle-layer-protocol/amp/

"Ultimately the middle-layer protocols in the blockchain stack will create the most value, similar to the Internet stack. Unlike the Internet, though, the invention of the token allows the protocol to capture the value created rather than simply providing a free standard upon which applications build their business models.

The blockchain stack will be different from the Internet stack in that there will be many middle layer protocols instead of a giant HTTP protocol to power most impactful applications. This is because each application or business domain requires its own unique token economics design and hence a separate unique protocol to incorporate the token economics for each application.

Each of these middle-layer protocols captures the value of the staking, commission, and other protocol usage fees, in the same way that blockchain layer protocols capture value (for example, the computational power provided by Ethereum). The economy created by that incentivized, differentiated middle-layer protocol stands to be much larger than the economy created by the more commoditized, computation-driven blockchain protocol layer. In fact, I predict that a few of these protocols tied to larger application categories like commerce and social networking will create decentralized local economies that are more than $100 trillion in size, with the tokens in those few protocols capturing massive value much bigger than any blockchain layer token, including the leading cryptocurrency, Bitcoin."

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