As I was announcing in the previous article, where I presented some of the numerous upsides of Sparkster(you don’t have to trust me, you can check their Whitepaper), there must be some downsides as well , even if they are not necessarily related to the project itself, but could actually represent external/independent factors. This will be the second part of what I intend to be a trilogy on Sparkster, so I will try to focus on presenting precisely the worrying elements of the big picture for this amazing project.
I was trying to get some suggestions from the community on what these elements may be, but since my Reddit post is still unanswered, I had to think a little bit more by myself and come up with some ideas that I would like to discuss here. This being said, let’s see what we may find on the other side of Heaven (you know that movie, right? :P).
DISCLAIMER: This is NOT financial advice!
As far as I’m concerned, I didn’t find any intrinsic downside of Sparkster, anything that would have something to do with their technology or their vision. It’s just that, in this complex climate that the crypto-space has to bloom and develop in, low are the chances not to be influenced by a series of factors that, let’s be honest, influence so many other projects too. Let’s start to briefly discuss each one of them (no specific order intended), so that you can easily understand what I mean…
Part 2 - The Bad
First and foremost, I think that we have the competition, as I briefly presented already in this Reddit post. Even if it is one of the most hyped ICOs in the whole crypto-sphere at this moment, there are other projects that are not in their ICO stage anymore and may have a development advantage (more or less significant). Given the product they try to develop, the Sparkster team will have to compete against other crypto-projects, such as:
- Bluzelle
- Dfinity
- DADI
It doesn’t mean that Sparkster doesn’t have serious chances, no matter the competition. I am just trying to say that in this still emerging technology, the first project to have a fully functional product can gain an important edge against all others, an edge that could help it secure an important market share, at least for several years to come.
I’m not saying that Sparkster will be on the losing side, but that the team (and all of us as well) must be aware of this and develop its strategy (both short-term and long-term) accordingly.
Let’s not forget the non-blockchain competitors, as we have some giants here, such as:
- Amazon AWS
- Microsoft Azure
Secondly, there is a slight possibility that one of the most important features that Sparkster plans to offer, namely plain English programming, will not be that successful and will not lead to mass adoption as soon as we expect or hope it will. I don’t think it will be the case, but it worth mentioning it.
Given the current lack of skilled blockchain programmers, it may last for some time until people will be able to see the real benefits of using the blockchain technology and start imagining and developing projects based on it. In order for a technology to go mainstream, people have to understand it. The means of programming are obsolete, if people have no idea what they can use them for. I really hope it won’t be the case, but I’ll definitely keep an eye on how the idea of codeless software creation will perform.
Another important factor (not only for Sparkster, but for all the other cryptocurrencies and for the market as a whole) is the usual FUD (fear, uncertainty and doubt), that is present (at least from time to time) and causes the prices to go down, for no obvious or rational reason.
I am not talking here about the price of the token after the public sale. What I mean here is that a bear market can lower the chances for mass adoption of a specific project, because people will judge it by its price evolution. When nothing happens for some time, people will eventually choose some other projects to follow. It’s not much that could happen in a bear market for an altcoin, because Bitcoin usually dictates what the other coins do.
That’s all I had to say about the issues that Sparkster will have to deal with! I most probably forgot some other factors, so I can only hope it wasn’t anything vital. Let me know in the comments if there is anything important that I forgot to mention in this article!
Until the next time, when we’ll cover the technology behind Sparkster, don’t forget that you can participate in the bounty campaign, so that you can secure your place for the token sale! ;)
PS: In case you have any questions, you can also find me on Bitcointalk!