Huobi Ventures Weekly Report #47

Huobi Ventures Weekly Insights

Insight provided by Jinbin of Huobi Ventures

Is the end of the layer1 competition the time for middleware?

The layer1 competition has come to an end. Isn’t it the time for middleware?

If we look at the historical development of Layer1 technology

2017 saw the emergence of various consensus algorithm innovations

In 2020 the major smart contract platforms competed to make their debuts

The recent new public chains played up the so-called modularity and parallelism

Let’s take a look at the essence of the three phases

From algorithm innovation, software function complementation, and finally to the overall software architecture innovation, relying on CPU multi-core to achieve parallelization

If we look at the evolution history of the Internet technology

There is a similar path

The final stage of algorithm innovation led to the acceleration of ASIC chips

The only way to go further down is to serve specific businesses

With enough layer1, many challenges emerge

With so many platforms for developers, development costs and learning costs gradually increasing

Different layer1 has different standards, if developers want to deploy on multiple platforms, they may need to find all the developers of rust/solidity/move, etc.

This is where middleware comes into the picture, marketed as a way to smooth out development costs and time for developers

Whether cross-platform or with a higher performance execution layer, how to better link the Dapp to users

The need for an intermediary to act as a middleware

As the middleware acts as a link, it has a network effect of its own, and the more roles and projects it links, the stronger the value is captured.

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#layer1 #middleware

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Huobi Ventures

Huobi Ventures

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Focus on Huobi’s venture investment portfolio and supporting innovative blockchain projects through long-term strategies. Twitter:@HuobiVentures