Everyone in crypto is familiar with the above, the leaderboard of cryptocurrencies by market cap. This leaderboard is unhealthy for the crypto community as a whole, and is fostering an incredible amount of division. If stock market investors used a leaderboard, Apple investors would be livid if another company blew past their 2.6 trillion valuation. Only in cryptocurrency do we find every project, such as Bitcoin and Ethereum, in a battle to win their spot on the leaderboard.
Leaderboards promote chain maximalism, exactly like sports team rivalry. When your favorite chain is battling for rank, you'll be reluctant to admit defeat and change your jersey.
We need to move beyond zero-sum games, and exist in a multi-chain future that is positive sum. The best path forward is an environment where creation and innovation is fostered, similar to Silicon Valley's startup environment.
Let's stop looking at cryptocurrencies by rank.
~ jcdenton.eth