[Discussion] Ethereum should fully focus on DeFi, its true strength

Hey guys!At Tellor.io we’ve created a decentralized oracle in which the data output is secured by a hybrid PoW/PoS consensus mechanism. We fully focus on security and on the applications that need that extra bit of security compared to alternative oracle solutions; Tellor is specifically designed for the DeFi market.When Ethereum started to gain traction at the beginning it was mainly due to the fundraising possibilities through ICOs. For a long time this was what the majority of people were interested in and what was one of the biggest reason for the increase in price. On the fundraising side of things we’ve seen a few considerable changes in the last few months and weeks. On the one hand, we have competitor networks that have heaps of money to support projects to build on their network. On the other hand, we have exchanges that not only offer money, but also easier fundraising, connections and a listing. When we think about it from a business perspective a network like Binance Chain will have a better proposition to most early stage projects than Ethereum.Obviously, Ethereum developed further and is not only a fundraising platform anymore. The competition in other verticals is considerable though. In the end, the developers building products need money and if money is easier to get if you choose another platform then most will take that decision. These platforms normally are way more centralized – but for how many end users does it really matter? And in which vertical is that really important? In gaming for example nobody cares about it – users are simply looking for a good game. If blockchain can enhance that gaming experience, then awesome!Though DeFi is a completely different beast. Remember the initial promises of cryptocurrencies? An alternative currency? Bank the unbanked? For these use cases decentralization is important. Solving the trilemma of security, scalability and decentralization in a proper way like Ethereum attempts is important. It’s crucial as it helps in realizing that use case. On top of that, Ethereum already has proper traction in that vertical.We are of the opinion that decentralized finance will be the key use case for Ethereum network in the future. As a result, we are of the opinion that Ethereum should focus the majority of its resources on that vertical.Let us discuss!

Submitted April 29, 2019 at 11:47PM