CEO of CasperLabs: Public Chian will Take a Significant Amount of Time to Gain Mainstream Adoption

Abstract : Enterprises will first experiment with more closed implementations and over time will transit to fully supporting public blockchain.

ChainDD
ChainDD

May 19

Given that the existing public blockchain cannot meet the mainstream demand, and the market is dominated by the Consortium Blockchain of Permissioned Blockchain, it seems harder for the Public Blockchain to get a breakthrough in application scenarios.

In a talk with ChainDD today, the CEO of "the Silicon Valley Star" CasperLabs Mrinal Manohar shared his view about this embarrassing situation faced by the Public Blockchain.

Manohar said, "every new technology takes a significant amount of time to gain mainstream adoption. Amazon AWS took 9 years to break into the mainstream, and the Internet took decades to become the phenomenon that it has become."

He added that there were core reasons why public chains had not seen mainstream adoption yet:

First, the developer experience is difficult and does not mirror the experiences they are used to (esoteric and custom programming languages like solidity, plutus etc).

In addition, there is no public blockchain that achieves scalability while maintaining full security (not just probabilistic security) and decentralization, a lot of new generation blockchains have some centralizing features as well as a tendency to have very concentrated ownership structures.

"These are both challenges that we aim to correct. We do not compromise decentralization and every decision has been made to broaden participation and ownership," said Manohar.

In his mind, the existence of consortium chains is consistent with the Internet. Enterprises initially did not fully adopt the "public Internet" but created "private intranets" that had a lot of the same basic features. Over time companies started moving a lot of their infrastructure to the public Internet.

He believes that this will happen in a similar manner with blockchain, and enterprises will first experiment with more closed implementations and over time will transit to fully supporting public blockchain.

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