Editor's Note: This article comes fromBlue Fox Notes (ID: lanhubiji), reprinted by Odaily with authorization.
Editor's Note: This article comes from
Blue Fox Notes (ID: lanhubiji)
Blue Fox Notes (ID: lanhubiji)
With the launch of Polkadot, people gradually began to have more interest and attention in the dispute between Polkadot and Ethereum, especially more and more projects on Polkadot, showing a certain development trend. What will the public chain DeFi look like in the future? Is Ethereum the only one? Or let a hundred schools of thought let go? Or how strong is it?
Let's first look at the possibility of Polkadot:
Among all smart contract platforms except Ethereum, Polkadot currently has the highest market value, and its scalability is also relatively good, with low fees. Compared with the current congestion and high fees of Ethereum, it shows great advantages.
Polkadot currently has more than 240 ecological projects, covering wallets, browsers, infrastructure, oracles, expansion solutions, etc. At the DeFi level, it also has stable coins, oracles, DEX, lending, derivatives, insurance And other projects, although still small, have already begun to emerge with vitality.
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(Project statistics come from Polkaproect)
With the development of time, will Polkadot be able to catch up with Ethereum's DeFi because of its advantages in scalability and fees? Many Polkadot fans began to look forward to such a situation. In particular, the progress of ETH2.0 is relatively slow, and the development of Layer 2 will also take a long time. All of these have left opportunities for the development of Polkadot DeFi. From this perspective, Polkadot is not without opportunities.
Let’s take a look at the first-mover advantage of Ethereum:
Ethereum is the first public chain to develop DeFi infrastructure. It is the original birthplace of DeFi. It has a basic network effect and has a strong first-mover advantage.
The overall market value of Ethereum is about 40 billion U.S. dollars, and the overall market value of Polkadot is about 4 billion U.S. dollars. Ethereum is 10 times that of Polkadot.
From the perspective of the breadth and depth of DeFi products, Ethereum has basic Lego building blocks in various aspects such as stable currency, lending, DEX, derivatives, insurance, aggregator, wallet, DAO, oracle. At the same time, on these Lego building blocks, New trends such as DeFi+NFT have also been developed.
In terms of user experience, most users are used to Ethereum’s wallet, DEX, lending and other products;
From the perspective of locked assets, Ethereum DeFi currently locks about 10 billion US dollars, including 1 billion US dollars from Bitcoin.
One is a rising public chain star, and the other is an established public chain giant. Where will the two go in the future? Can Polkadot DeFi shake Ethereum DeFi? Is one ebb and flow, or coexistence and common prosperity? Understanding this topic is critical not only to understanding the future of Polkadot and Ethereum, but also to understanding other ambitious public chains.
According to the current situation, the more likely development situation is:
