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The idea behind SuperNET is simple. Take a series of coins that offer genuine innovation and unique advantages. Take a set of services for which there are known and significant markets, and to which cryptocurrency brings new advantages. Put them together under one user-friendly roof and allow everyone to enjoy the collective benefits. So says Brandon Hurst, english author for bitcoinblog. Brandon is not objective. He has been involved in SuperNET since the beginning and has a financial interest in the project.
In this article he gives some insight in SuperNET. Bitcoin, and crypto in general, have some problems. None are insurmountable, but the way we typically approach them sets us up for failure. Put simply, instead of collaborating to fix them and sharing the rewards, crypto communities can be fiercely tribal and competitive, to their own detriment.
The SuperNET is a bold new initiative that seeks to bring together the best technology and the most attractive services under one roof, rewarding all involved. Its immense network effect means that no altcoin has a chance of unseating it in the near future, and possibly for many years — if ever. Unless new money comes into crypto with Bitcoin being the biggest beneficiary of that investment , it will struggle to advance beyond a niche interest.
To do that, crypto must offer users something, or many things, that fiat cannot. Politically, Bitcoin is a disaster, since changes to the protocol are invariably controversial and are therefore rarely made. Altcoins, on the other hand, are highly adaptable. With small, agile communities and low market caps, they can innovate in a way that Bitcoin never will again.
But, of course, they lack its vast user base. If you want to create a new service or feature — whether that is a coin with outstanding privacy technology, a decentralised store or a killer poker app that has no respect for borders or jurisdictions — there are likely faster and more suitable coins to base it on or around. All too often, these altcoin communities adhere to a zero-sum mentality: A better solution than fighting for a larger slice is to make the pie bigger, brining more users into crypto.
Take a set of services — of many and diverse kinds — for which there are known and significant markets, and to which cryptocurrency brings new advantages. Put them together under one user-friendly roof and allow everyone to enjoy the collective benefits, both in terms of the utility this offers and the very significant revenue streams those services represent.
SuperNET is nearing v1 release, which is expected to happen in the next fortnight. Nevertheless, it is a constantly-evolving project, as new assets are acquired, new projects funded, new coins researched and incorporated.
There are many, many cryptocurrencies, initiatives and revenue streams involved. For a longer list and more information see the bitcointalk forum thread , but just some of the most interesting and exciting include:. Naturally, an undertaking of this magnitude has drawn its fair share of detractors, who have accused jl of perpetrating a scam or being unable to deliver what he promises.
One of the major criticisms has been over his anonymity. As a well-known and widely respected figure in the crypto community, this scepticism was not enough to deter investors from handing over millions of USD equivalent in cryptocurrency. These objections have subsided over time as over 40, lines of code have been added to the github repository, most or all written by James himself. A community of over people, including dozens of developers for its many services and other contributors, has gathered on Slack open to all on application , and a temporary client with preliminary functionality has already been released.
Momentum is building and expectations are high. SuperNET remains a promising project, if only due to the huge amount of talent it has attracted and the enthusiasm it has galvanised in the same place. Whatever the outcomes of these projects, and others like them, the collaborative approach is one that is starting to gain traction as developers and communities recognise there is more to be gained from working together than in-fighting — and almost no limit to the projects that can be delivered with enough vision, talent and hard work.
Very informative article, thank you for that. You are commenting using your WordPress. You are commenting using your Twitter account. You are commenting using your Facebook account. January at 4: February at 5: Leave a Reply Cancel reply Enter your comment here Fill in your details below or click an icon to log in: Email required Address never made public.