CoinDesk published an opinion article stating that for a long time, both cryptocurrency skeptics and believers have criticized the lack of mainstream application cases for blockchain technology. Although thousands of decentralized applications have been deployed, mainstream application cases are still scarce. However, this situation may be about to change.
Over the past year, developers have made block space fast and cheap for builders. Ethereum (ETH) deployed its Dencun upgrade in March of this year, reducing transaction costs for users of the second-layer blockchain to less than $0.01. Solana (SOL) has (mostly) resolved the downtime issues that plagued it last year, resulting in a significant increase in the economic value of the protocol. New first-layer blockchains such as Sui, Sei, Aptos (APT), and others have come online in the past 18 months, promising unprecedented throughput. This process is far from complete, and more new and high-profile blockchains are expected to enter the market with novel design elements in 2024 and beyond.
