Former Google boss Eric Schmidtthinks that an altcoin has superior technology compared to its competitors, and therefore is one step ahead of its competitors.
Koinfinans.com As we reported, the inventor of Chainlink Sergey Nazarov Eric Schmidt, who had a conversation with SmartCon 2022 at SmartCon 2022, stated that the biggest difference of the technology giants in 2000 was that they caught the current trends and niches before their competitors and therefore got ahead of them.
“At the end of the day, companies that win on Web2 have better technology. They put more capital into developing their work, and they acted much faster and adapted more quickly. Since these are network businesses, it’s really hard to catch the train after you miss it.
chainlinkI also think that . They have acted before anyone else in this niche area. I have no doubt that we will see the same dynamics we saw in the early 2000s in the Web3 world.”
Schmidt, whose net worth is estimated at over $16 billion, excited the community by stating that the same features that have made the tech giants of the past few decades successful apply to Chainlink.
“The winners, and that certainly goes for Chainlink, they have better technology and scale better. I speak now as a computer scientist. You have to get the architecture right so you can expand from 10 users to 10 million users or even an entire system. I’m not commenting on Chainlink here, on the contrary, I’m commenting on others because others seem to be dropping out of the game very quickly. These are my personal observations and they are not yet built to scale and this phase will be more difficult.
You can’t complete this in six months. You really need computer science, solid planning and real platforms for that.
I think Chainlink will become an important component of that because of the way you provide computing services – and I will just use the generic word “trust services” – but you will be just one. There will be other players who will be important.”
At the time of writing, the native token LINK is trading at $7.06, down over 6% on the day.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.