Just like many, I jumped on the Binance Smart Chain bandwagon. A new blockchain is similar to the Tardis, it always seems rather pointless and stupid from the outside but so spacious once you step in.
Unfortunately, the Tardis is not real but illusions are. With the "rise" of DeFi many blockchains are now able to easily replicate that illusion and since we all like a good time, why not step right in.
There is money to be made after all. Although seems to me I could be milking Hive, Leo and POB a lot harder but I will leave that to people with personalities and shit to say.
Anyway... I am currently deep into the Bsc DeFi facade and recently their scaling issues have become more and more apparent. With today having been the worst I have yet experienced.
Like Hive, Bsc relies on nodes and "witnesses" now they have not really made it worthwhile to be a "witness" so I am going to assume they also do not make it worthwhile to be a node.
If you intend on delivering faster output, and with that handle more traffic than the supposed thing you wish to surpass. Then you should probably not have a single point of failure such as a few nodes and highly paid but limited amount of validators.
That is basically what government is, and I don't see them doing any work worthwhile.
Well, I might just be wrong but that is my off-the-cuff reasoning for Bsc basically shitting the bed.
Welcome to Chaingas..Vegas.. Gas
All is not lost though, and really Bsc will be fine but it does make a person pause when you have consecutive transactions failing because of "internet" issues.
It makes you wonder what are the other options, and how nice is their ecosystem. Bsc is convenient, purely because of metamask integration and no other reason.
From a dev perspective I can see how they also like the fact that the code is easily ported over from Ethereum. I think there are a few chains with "Eth" compatibility but they did not have Binance backing them so that makes it a bit harder to get people on board.
I have been looking at Fantom for a while now, but not really jumped in. One farm I used on Bsc, HyperJump (Alloy) has now integrated with Bsc and Fantom. That would be a good entry point to start playing on Fantom, which seems to also have "native" DeFi - staking mechanics on their chain.
Tezos is another which although they don't seem to have any proper or recognizable DeFi options do have a pretty big NFT market making it one of the most viable alternatives to any other chains NFT markets including ETH and Bsc.
With more bridges and simpler ways of moving from say a BEP20 token to another chains Native token without either being on any centralized exchanges it is also a lot more viable if not necessary to take advantage of the diversity offered and further push competition in the respective arenas'.
Although DeFi and NFT are merely facades to the chains, they can serve as a stress test. Not to mention they can make many people a ton of money, I would hope so because we are doing the effort to test their shitty software :)
So I don't think any of these chains are Killers, and that is why I think I should jump in and start growing along with their ecosystems. Although none are killer, not Avalanche, or Solana. They can still outpace each other and instead of arbitraging between the same token maybe a person needs to look at arbitraging ecosystems.
Posted Using LeoFinance Beta
Tezos now has defi, the gas fees are so low https://www.plentydefi.com/
Posted Using LeoFinance Beta
A lot of this is just rent-seeking and trying to grab your fiat or bitcoin while keeping you shit rich on "paper" only to find when you dumb or want to get out there's fuckall liquidity. It's really a game of hot potato and the wreckage is going to be glorious, i love watching these projects rek people and I just sit there stacking sats, this ones going to be even more fun than he last, since the last bull run I was one of those patzies at the table holding bags of shitcoins when the tide rolled out.
This time I'm a little wiser, sad to see such a waste of capital but if you want to get burned who am I to stop you? Keep biding up doge coin and buying more safemoon and jumping on these smart contracts and buying NFTs lol its a shit show of epic proportions.
I always wondered how the system would punish those for not learning to HODL, now I know
Definitely, and I am trying my best to not be the hot potato and shift quite a bit off of paper. So far not burned but it is a fine line, these defi tokens have helped me get more of others but like you say bags of shitcoins so I am looking at more reliable "stores". No not bitcoin I can't really be arsed with bitcoin but as close to that as I can get will probably be like Rune, Sol, thinking I might narrow the field though for sure... Probably not buy bitcoin because I care about the planet and shit haha.
Please help me master. There is so much crap going on, that I am losing it. I cannot Keep up with all this DeFi shit lol. I don't know where to even start, there is so much going on. Can't someone just send me a Lambo token to my metamask wallet? That would be so much easier, and save a lot of time and gas fees that could be used for driving that Lambo:)
If only. I think some have that Lambo token problem is no one knows the name and when it turns into a lambo so we keep hunting haha.
yield farming is a scam
Pretty much yeah. Definitely a moving cups game style thing, and even if know it just a game it is still hard to land on something which dies so slowly you are actually able to "yield" rewards. So I think I found a nice one which really I don't mind putting money into because it is being developed to be an actual game. For now though I guess there is the gamblers itch of let's take a bit put it here and who knows maybe I double haha.
have you been watching THETA and or OASIS ?
Nope, I am rather uninformed on a few things. Have heard the name Theta but ETH was in the same sentence so I skipped over it. lol my prejudgements I guess keep me quite ignorant. I opened their sites now, Oasis at a glance feels like Polka, Atom and Ark.. Although I discovered NEAR in the week so will weigh those up as composable blockchain solutions. Theta, will dig bit more there since video is definitely something that can do with a flagship , I don't think LBRY pushed the envelope much but there is always room for competition. Thanx, will dig bit more into them. Yup I saw a mining improvement and staking option for Theta so if I can passive earn I will definitely give it a look too.
the shocking thing about THETA is the fact that it's FULLY FUNCTIONAL
https://www.theta.tv/video/vid55m5adnx551snx2h
and has some rather notable partners,
Yeah, I saw that but had to raise a brow to what extent those logos represent the actual partnership. Even if Sony them want to just use Theta in-house that is good and they would probably contribute to development. Already looking at what liquid I got to hold some tokens.
THETA can host video for proprietary apps, like NETFLIX.
this would mean that companies like NETFLIX and TUBI and PLEX could stop using AWS.
THETA would be way cheaper for them.
i'd be personally honored if you'd consider taking a look at this,
https://discord.gg/36VqRBkZ