Foreword: Well-known overseas leaders, China's fanatical pursuit, and slot auctions, do all these remind you of the "mirror-level" EOS. Careful investigation will reveal that well-known projects on Polkadot are mixed with good and bad people, and there are many imitation disks, hot spots, and fraudulent projects. However, Polkadot is more fortunate because it caught up with the bull market, while EOS was born in the bear market. The short-term hype value of Polkadot is not small, but there is a high probability that it will be the ending of the next "Ethereum killer" in the long run.
Since its launch, Polkadot has become one of the most popular "Ethereum killers" due to its high throughput and low-fee network features. At present, the market value of DOT has surpassed Ripple, ranking fourth in the market value of the industry. In particular, Polkadot has risen by more than 100% in the past week, driving concepts to rise across the board.
Polkadot, as a new generation of "Ethereum killer", is not the first time that Ethereum has faced this situation. From the earliest Ant, to the later TRON and EOS, they have all eyed Ethereum, but they are gradually declining. So will Polkadot become a real disruptor? Or just the next EOS?
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Behind the Polkadot ecology is mostly Chinese capital
However, under the call to surpass Ethereum, there is a voice that believes that Polkadot is just another species that has been hyped from China. Just like EOS attached great importance to the Chinese community a few years ago, Polkadot's marketing in China can be said to be full of effort, ranging from KOL platforms to various community building. The similarity between Polkadot and EOS is that it has a famous overseas leader.
We did some research based on the Polkadot ecological project summary compiled by Bikan, and found that in addition to DOT and Kusama, the remaining 11 ecological projects include ANKR, ChainX, Jiyu, Celer, Darwinia/KTON, Phala, MantraDAO and The 8 projects including Crust all have Chinese capital behind them, which can be said to account for half of the current Polkadot eco-popular projects.
Among them, MantraDAO has been investigated for serious fraud,Liar Penta turns into MantraDAO, foreign actors go crazy on Chinese exchange Yi Lihua continues to promoteimage description
Data source: Bikan
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Slot auction = EOS super node campaign market?
In addition, the popular auction of Polkadot parachain slots now reminds people of the EOS super node election where the demons danced wildly. Almost all the institutions in the currency circle have announced to join the node election in order to catch the heat. But EOS can be said to be unfortunate. The project was launched at the beginning of the 18-year bear market, and it gradually fell from the altar without even surviving a complete bull-bear. Obviously, Polkadot is much luckier than that. When the bull market kicks off, the currency price may become even crazier.
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The lifeblood of Polkadot is ETH2.0?
In the future, the auction of parachain slots is expected to continue on a 6-month cycle. Bidders have 6-month/12-month/18-month and 24-month lease periods to choose from. . This means that if the demand of the Polkadot network is real, then the lock-up demand of DOT will also be continuous.
In an auction cycle, if the "lease" of a slot lessor has not expired, the DOT pledged will not be released temporarily. At this time, if there are new competitors who want to join, there will be new DOT Adding auction pledges is tantamount to pushing up the final pledge rate of DOT in disguise.
However, this lock-up auction is not a "perpetual motion machine" that drives the currency price. The motivation of the bidders to participate is nothing more than the fact that the entire Polkadot network is profitable. If it is finally proved that the cross-chain is a false demand, then contrary to the "perpetual rise", DOT may fall into a "perpetual fall" state of "decrease in demand - decrease in locked positions - decline in currency price".
This leads to an ultimate question: In the blockchain world, do we only need one public chain, or a cross-chain network composed of countless parallel chains? For example, Jiang Zhuoer believes that Polkadot cross-chain is a false demand. If ETH is successfully expanded and TPS is greatly improved, the result of the public chain will be that all chains will be unified. Polkadot has short-term hype value, but no actual value.
This again puts Polkadot on the opposite side of Ethereum. However, for the vast majority of Polkadot supporters, they may not even think that Ethereum will be a direct opponent. After all, the Polkadot network can have countless parallel chains, and Ethereum will only be 1/N here. The Chinese community even directly referred to Plasm, a smart contract chain under the Polkadot ecosystem, as "ETH 2.0 on Polkadot".
In the next two years, the territory of ETH 2.0 will gradually become clear, which means that Polkadot’s time window is within these two years, and we should be able to see the answers to the aforementioned questions soon. (Author: miaohash Editor: Wu Shuo Blockchain)
