There is no perfect blockchain. No matter how deeply in love we are with the notion of singularity or one chain to prevail over all other chains, if we want abundance, we need to go multichain.
Dominance, centralization, singularity – we don’t cope well with these systems on this bipolar planet we call Earth. And I’m glad we don’t, no matter how desperately certain entities are marketing and selling these concepts to the human race. Extremes are dangerous. We’ve seen and experienced the results of these adventurous endeavors in our daily lives and they’re not fun.
So how do we diversify? Can we minimize risk by using multiple chains?
Putting all eggs into one basket is very risky. We don’t need to study Warren Buffet to come to this conclusion. Our innate intelligence is here to guide us, we just have to listen to it and follow our intuition.
The Bitcoin blockchain has been around for over a decade now and it has proven to be the most robust and secure blockchain. Despite these gigantic pros, the chain also has some cons. This is where other chains try to balance the act such as Ethereum, Polkadot, Cardano, Cosmos etc.
Some of these chains scale better or are more flexible, others enable developers to quickly build decentralized applications (dApps) and non-fungible tokens (NFTs) on top of them.
Multichain: The Pudding is in the Mix
The other day I was having an interesting conversation with a like-minded soul I befriended on Hive, the go-to platform for all web3 marketing fans. We were talking about maximalists and their view of the world which basically encourages separation instead of unity.
Why is it that we always have to divide and conquer? Why is it so hard for the human species to drop confrontation and go all in on cooperation?
Let’s think back to the founders of the Ethereum blockchain. A team of phenomenal mathematicians, IT devs and scientists gathered to create this chain only to grow apart within a few weeks and months. What happened next is no mystery for those following the cryptoverse saga so to speak. Vitalik Buterin stayed with Ethereum while Dr. Gavin Wood went on to create the Polkadot blockchain and Charles Hoskinson the Cardano chain. So far so good, as each of them embedded a unique component into their project.
Instead of one blockchain we now have three different chains. Here’s the problem though: communication between chains. Keyword: cooperation.
Harnessing the power of the multichain means putting aside the ego and celebrating the differences with a clear emphasis on uniqueness. The most dApps are built on the Ethereum blockchain. Polkadot on the other hand, excels at web3 interoperability and cross-chain performance. Cardano is slick and fast, the type of go-getter that always needs to prove itself. Three very different chains reflecting the strong personalities of their founders.
We Shape the Future, Not the Other Way Around
Responsibility. A powerful word with thorns for those unwilling to stand strong and face the consequences of their thoughts and actions or lack thereof.
Multichain, multiverse, multi-xyz … It all comes down to our willingness to step up and create the life we want for us and future generations. Evolution isn’t based on singularity. There might be an all mighty source of consciousness and energy but our planet, galaxy and universe thrives from a plethora of multiple, colorful layers.
The blockchain technology will revolutionize every single aspect of our lives. It will enable us to improve our lives on a large scale, if we deploy it wisely. The last thing we want and need is one entity such as for example the government to control every single aspect of our lives by enforcing all citizens of the world to use one blockchain.
The power lies in learning to juggle multiple chains. It’s up to us to use this amazing technology to enhance and enrich our lives. By opening up to new frontiers we invite the collective mind to grow and transform.
Creative art: AI-generated image on Lexica