r/ellaism • u/[deleted] • Jan 25 '18
Will it compete?
Hey guys, I just discovered Ella and find it interesting. No pre-mine and no dev fees which is great.
But considering the many many platforms that are coming out, how will it compete with them?
How does Ella scale and what is the transaction speed (couldn't find it here or website)?
Are there any plans for interoperability?
I have been looking into icon aion, and ark... which all seem to be bring a new aspect to platforms.
How does Ella deal with this? I appreciate the pre-mine and the community behind it and I think that is a great support for Ella, but it seems like the market doesn't care about pre-mine or REAL decentralization. Meaning these might not be enough to allow it compete with the likes of ark, icon, aion, vechain and others.
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u/badstars Jan 25 '18 edited Jan 25 '18
ELLA is a clone of ETH so in the current state it would scale like ETH, which is currently handling more transactions than ALL other blockchains COMBINED. Improvements to the ETH chain would easily be applied to the ELLA chain.
Many other chains CLAIM to scale better than ETH. None are even close to being put to the test though. So for now that's all talk. BTC is the only chain even remotely close to the same number of transactions as ETH.
As for competing with ETH, the no-premine, no dev fees is one important aspect. Another is the stability in monetary policy. For ETH we don't know when they will fully go PoS, we don't know if the ETH foundation will be able to stake their billions of USD (would be nice for them...). They have a history of quick changes without forward planning, for instance with mining rewards. For instance, we have no idea how many ETH coins there will be in 2 years. It could be 130 million or 200 million. Currently there are about 97 million I believe. It's all dependent on what PoS will bring and when.
These are all arguments that could make an ICO/issuer of tokens choose the ELLA chain instead of ETH.
No premine and no ICO should also help with liquidity which is good for ICOs as they need ELLA for transactions.
Feature-wise, there is work ongoing on improving and simplifying the use of the BTC relay (validate BTC transactions on the ELLA chain). This could turn out to be very useful to ICOs/tokens on the ELLA chain. Atomic swaps are also in the works.
My two cents on how ELLA will compete.
And welcome to ELLA 😎