In a recent reader message, some readers asked: Don’t you talk about Polkadot? Because of the skyrocketing during this period, the market value is currently ranked fourth.
In fact, I have talked about Polkadot several times in previous articles. But seeing this problem again this time, I remembered my thoughts on cross-chain projects and the process of thinking about this field.
First of all, I have great respect for this project and its founder, Dr. Gavin Wood. He is not only the founder of Polkadot but also the co-founder of Ethereum. The key role he played in the development of Ethereum and the fatal problems solved one after another for Ethereum will definitely make him shine through the history. He is a genius in technology development, and he is also very charming in personality.
I have read Polkadot’s white paper, and I have probably understood Polkadot’s technical framework. Polkadot has a lot of Ethereum shadows in terms of technical style, or both Ethereum and Polkadot have been deeply imprinted with his brand and style. . I have no doubt that Polkadot is purely technologically advanced.
But technology is only part of the long-term success of a project, not even a critical part. For a blockchain public chain or underlying platform to succeed, its direction and logic are more important than technology.
EOS is not bad in terms of pure technology, but its problem lies in the direction and logic. A few years ago, when the vast majority of people in the industry still believed that EOS would surpass Ethereum, some people opposed EOS. There were two main reasons for opposition at that time:
One is that the founder BM will abandon the project with his past personality, which will cause problems in the subsequent development of EOS. Therefore, although this project is very good, its subsequent development may not be able to keep up.
The other thinks that EOS itself has problems with direction and logic, so even if the technology is very good and BM continues to do it, it will go into a dead end.
I hold the second point of view, so when EOS is still in full swing, I don't hesitate to sell. I remember that EOS has maintained an upward trend for a long time after the sell-off.
I have a similar cognitive process for Polkadot and cross-chain. As early as when the first cross-chain project Astro Boy (ATOM) was launched, I admired the concept of cross-chain very much, and I bought its tokens as soon as possible. But later as I learned more and more, I gradually became suspicious of cross-chain.
At the end of 2019 and the beginning of 2020, the Astro Boy (ATOM) team broke out in internal strife, and it turned out that it was the founder who left. When I saw this news, I immediately thought that the fundamentals of the project had deteriorated, so I did not hesitate to dump the token. After the dump, it still maintained a rising trend for some time.
The infighting of Astro Boy (ATOM) prompted me to continue to think about cross-chain issues. The more I think about it, the more I think there may be problems with this logic. Either this direction may be pseudo-demand or there may be demand in this direction, but the market for such demand is far from The industry is looking forward to so huge. Therefore, I did not invest in any cross-chain projects.
Although I have not invested in any cross-chain projects, I still pay attention to this field. At that time, I thought that only two of the entire cross-chain field would win out: Astro Boy and Polkadot. Now that Astro Boy has been drained, Boka will definitely become a well-deserved king (you can find my article in early 2020 to see my comments on this matter at the time). It will definitely catch the eye in the future and become the super popular king.
Later, Polkadot opened a public offering, listed on an exchange, split, and logically called it the king of cross-chain.
In the process of highlighting it all the way, I have not invested in it, but have been paying attention to it. I still think that this direction is far from what everyone expected, so even if Polkadot rises higher, I will only pay attention to it and will not buy, unless the industry's ecology changes drastically and I change my current view.
Regarding the development of Polkadot in the future, I believe that its ecology will continue to develop, technology will improve, and the price will reach new heights, but these are not reasons for my buying.
I don't want to buy good varieties.
I want to remind everyone that this is just my personal opinion, and my opinion may be wrong. I wrote that the main reason for my thinking process is not to influence everyone's views on Polkadot, but to emphasize again that we must consider carefully when we invest in any product. Only the decision made after careful consideration is a safe and assured decision. , So as not to be disturbed by market sentiment, and to maintain rationality and independence.