I agree with the Network Effect making one or some dominate - but I’m wondering about some coins like oracles - if the barriers to entry are not too high, would it be possible to dilute the network effect for some areas in the long-run? I’m probably wrong, but even though Chainlink is the dominant oracle, I was wondering if the barrier to entry were low enough (including access to current LINK users) that other oracles could come on stage and give LINK a run for their money. On the other hand, it would be hard for me to imagine many other coins competing against BTC.
I agree with the Network Effect making one or some dominate - but I’m wondering about some coins like oracles - if the barriers to entry are not too high, would it be possible to dilute the network effect for some areas in the long-run? I’m probably wrong, but even though Chainlink is the dominant oracle, I was wondering if the barrier to entry were low enough (including access to current LINK users) that other oracles could come on stage and give LINK a run for their money. On the other hand, it would be hard for me to imagine many other coins competing against BTC.
This is a great question. I do not currently know enough about Oracles to answer this, but I will now begin to do my homework on the topic!