It’s likely that there won’t be one blockchain to rule them all, and betting on which handful will survive is sure to have a huge bounty for whoever guesses correctly. Thus, establishing a metric instead of blindly throwing money at the top ten projects on CoinMarketCap has in itself become a valuable tool. One such expert has provided a rather contrarian view for evaluating the most promising projects: look to their community, not at the technology.
More than any other emerging technology, the crypto space draws much of its power, tribalism, and general weight from the community it engenders. As a result, Crypto Twitter has memed itself into existence over the past few years, and this has even resulted in a number of spin-offs from the original social media platform. It has also been the battlegrounds for sparring between spokespeople, trolls, and everything in between.
Alongside the myriad of colorful voices vying for attention, is the fierce technological competition between blockchain projects. Whether it be solving scaling solutions or promoting the next enterprise-grade blockchain product, startups are also breaking down barriers on what is technically possible. As it’s typically more difficult to implement zero-knowledge proofs for smart contracts, as is the case with the Aztec Protocol, one would think that the market tends to favor the technologically ambitious projects rather than the people who fill its Slack and Telegram channels.
Murad Mahmudov, the founder of Adaptive Capital and formerly at Goldman Sachs, believes the contrary. In an interview with BTCManager, he explained that it’s important to place a high premium on the social aspects of a blockchain project. In fact, it’s rarely the most cutting-edge technology that drives price,