Will the Bitcoin network be the only important Blockchain?

As much as I would like Bitcoin to dominate the entire globe, I think that every big network will face competition. This year, the blockchain technology competition grew stronger and Bitcoin has lost a big amount of market share in the crypto currency area.

Surely, it is possible that Bitcoin will dominate the blockchain industry, but it is also possible that the altcoins could become even more popular. People still don't know why the should use crypto currencies but this thinking pattern will change radically when they recognize the potential.

Most blockchains hold rarely any transactions within the blocks which indicates that the use case is not eminent, at the moment.

Is Bitcoin a network?

Bitcoin is the first blockchain based currency network. It is a peer-to-peer electronic cash system. So the use case of Bitcoin is clearly defined and also working as intended. In fact, the Bitcoin blockchain's transaction capacity is mostly full.

What could we learn from established networks?

Every network has its own use case which they master. And in each category are competitors fighting for market share.

Here are some examples of the most well known networks in 2017

Messenger

1. whatsapp > 1200 million users
2. wechat > 938 million users
3. kik > 300 million users

Photo networks

1. instagram > 400 million users (Photo network)
2. flickr > 122 million users (Photo network)

Website networks

1. wordpress > 74.6 million sites (blogging)
2. tumblr > 345 million accounts (blogging)

Social networks

1. facebook > 1900 million users
2. twitter > 328 million users
3. google plus > 375 million users

Video network

1. Youtube > 1300 million users
2. Netflix > 98 million users
3. Vimeo > 38 million users

What can we learn from current none-blockchain networks?

Some countries favour their own networks. Take China or Japan as an example. Wechat, Line, QQ, Qzone or Weibo might be internationally not popular, but are market leaders in their own country. Similar effects could happen to blockchain apps.

Will blockchain based networks behave different than the established big networks?

Blockchain based networks represent value where every user can not only join the network but also invest in a network. The process is not difficult. People will learn it. And this is another reason why it will accelerate the procedure of growth.

One or many blockchains

"There Can Be Only One" blockchain seems unrealistic but you can never foresee the future. It is probable that at least a few blockchains will become established.

Coming Up

The future is incredible interesting because the shift will be enormous once the public starts seeing the benefits.