Thorchain's Crypto Flywheel

Earlier TC posts in a single pdf

When Ethereum was released in 2016, I was sure it would replace Bitcoin because it was Bitcoin plus. While no contracts of note were created, I thought it would be just a matter of time. Then, when Uniswap was released in 2020, I thought this would be the sort of thing that would demonstrate a contracting blockchain’s extra value. Below, we see Bitcoin’s share of the entire crypto market in orange from June 2016 through today.

The initial growth of non-Bitcoin chains in 2021 has been reversed. All that early promise has not materialized. I examined the case of Thorchain because it highlighted many common counterproductive practices in crypto development.

My 5 prior posts on Thorchain can be downloaded as a single document in MS Word here and as a PDF here.