Ethereum became big because of things built *using* its smart contract capabilities. Past a particular point, protocol development seems to offer only diminishing returns.
We don't have those capabilities even if someone wants to build it. You can't do governance token here for example or anything complicated
‘Don't go chasing waterfalls...’ ..is it worth *competing* with ETH on this? ETH cannot compete [currently] with BCH on micropayments. Play to our strengths...?
..besides, there’s a limit to what smart contract capability can achieve without compromising speed. Might not a layer 2/side chain achieve more (than even ETH) in this regard?
I'm actually thinking about a layer 2 for smart contracts which doesn't require protocol change. It's a very interesting idea but too expensive to implement here.
Yes you have good points. I think about it a lot that what are BCH strengths that can amplify users utility more than just payment. I think SLP and NFTs are the answer.
But BCH protocol limit possibilities a lot. Many ideas which leads to community votes doing something (managing the supply, algo, etc) are kinda impossible.
On a side note, i seem to remember we debated something similar here a year ago, except from opposite positions. Mine was 'BCH needs to pursue this [smart tokenisation etc]' and yours
Hahaha was it? I think it was before DeFi change my mind. I just think if you can't compete with that you will be removed. People put their money were highest utility is.