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Blockchain technology does not need coins to succeed

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by COINS NEWS 124 Views

Almost everyone connects blockchain = crypto coins, but this isn't true. A blockchain can work completely without coins.

Remember Arbitrum? It is a L2 for ETH and for a long time it worked well without it's own token, until the developers became greedy and released a token for DAO reasons.

Or Coinbase's BASE, it works without token.

The current narrative is that crypto coins will be worth a lot of money because blockchain technology will be very much used in the future...whether it's NFTs, validating and tracking products, transactions.

If there is a blockchain which will be widely used, which also doen't have a native coin. This blockchain is valuable, but doesn't make you rich, because there would be no coin to own.

This doesn't only apply to blockchains, but to DAGs, too. Although blockchains without coins (i.g. to pay gas fees) could have difficulties to manage spam attacks since every transaction is basically free, these "altruistic" blockchains could have a hard time to experience adoption, because without the incentive to make profits, less investors or users are willing to onboard them.

submitted by /u/MikeDJunior
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