Personally, going through the whitepaper of this project opened my eyes to one of the most amazing facts that has been eluding me for a long while.
Sometime last year am not exactly sure when I was so annoyed I didn't buy into the whole cryptocurrency rush and was even madder at myself when I saw what people were getting from it.
The big question is WHY THE DIP?
Here is what I mean, according to an online crypto analysis crypto compare, it is estimated that the average daily traded volume across cryptocurrency exchanges fell from USD$17 billion in December 2017, to USD$9.1 billion in March 2018 and to USD$7.4 billion in the first half of April 2018. This is enough to scare any potential investor and trust the critics and blockchain skeptics.
The truth is this, have you ever wondered why people queue up in front of apple and Samsung mega stores awaiting the release of new brands and after a few months loose interest in the same gadget they queued for?
Excitement.
When the blockchain technology started making wave, a lot of people bought into the technology and headed tokens not because they understood the project or anything about the blockchain technology but merely because it was an exciting new venture to make money, a lot of the people that bought these token and made transactions within this period had their day jobs and took trading on cryptocurrencies and blockchain as a hobby, a quick way of multiplying their resources and it worked for as long as it did. I remember complaining here about steemit sometime ago that the aim of these projects is being defeated with the holding onto these coins.
Believe it or not, this world works on principle and economics is an important influencer of the world order and these activities goes against the law of economics because more people came in and did not understand the process or the use of these tokens and after the initial excitement washed off, they realized that it wasn't as fun as it should and not many people were making use of the services attached to this platform. Hence they all parked up and left leaving only the resilient ones in the system.
Is that light am seeing at the end of the tunnel?
Sure, our tunnel would not be the only one without light at the end so yes it is light.
So how come?
There is something called the crypto j-curve as shown below.
This explains that after the excitement, it was propounded by Chris Burniske, this shows that with the dip comes to a preceding arm boom as a result of more participation from the layman as a result of better understanding of the platform and more believe on the workability of the system hence more people subscribing to it.
What has all this got to do with MyEther pony?
A lot if I must say because the major reason people leave their gadget and pass it on from the previous example is that that initial excitement is gone and there is no retention procedure in place to entice and hold down prospective investors beyond the initial excitement.
And to be honest he blockchain can be very confusing for beginners and investors alike because its initial impression for those who try going into its detail is a bunch of jibberish but MyEtherPony is a project that aims to hold you down beyond that excitement period using certain tools.
- Merging gaming activities with that of the blockchain.
- Incorporating the elements of social media and relates principles to the platform for more interaction between parties.
- Emphasizing sustainability by engaging the users on the platform on a longer-term basis.
- Offering a very user-friendly and flexible way of interaction among users.
The technology is backed by smart contract for those who are still not really clear about smart contract, it is more like me and you have and agreement and having it sealed by a smart contract, which automatically protects the contract and invokes and revoke if need be, simply put if you owe me, the system will pay automatically from your wallet even if you don't authorise it because we already have an agreement.
This will help everybody meet up to their expectations. The project also as to explore with collectibles which will be auctioned on the platform and bidder for, if bought can be stored and resold according to the demand for it.
Note that all this will be done in an entertaining and fun environment within the blockchain.
Always remember in the words of Bob Basso...
“If it is not fun, you are not doing it right. ”👌
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