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The blockchain ecosystem won't remain multi-protocol forever. Value naturally flows to and consolidates in networks with the strongest fundamentals:

- Best security draws more assets

- More assets attract more developers

- More developers create better apps

- Better apps bring more users

- More users enhance security

Just as the Internet unified information flow, one protocol will emerge to dominate value transfer - not because of 'winner-takes-all' software dynamics, but because value inherently seeks the path of least resistance.

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Discussion

wwang 1y ago

'If Bitcoin has the most assets, why do Ethereum and Solana have more developers?' - A common challenge to the 'one dominant protocol' theory.

The answer lies in evolutionary stages. We're in the infrastructure/experimentation phase, where developers explore possibilities. But long-term value follows security and stability:

1. Early stage: Developers chase innovation

2. Middle stage: Market validates what matters

3. Final stage: Value consolidates around proven security

The surge in alt-protocol development mirrors the dot-com era experimentation. Just as Internet protocols eventually settled, value transfer will converge on the most secure and reliable base layer.

Security and reliability compound over time - they're the asymptotic qualities that win the long game.