I think it’s time to take it to the next level and start focusing on useful things like equipping Kaspa and its ecosystem with privacy and user-friendly features built into wallets and extended to the rest of the ecosystem and applications, along with a Layer 1 stablecoin alternative like DAI so we don’t have to rely on other companies like Tether or Circle. We could even equip that DAO and privacy-focused currency with shielded pools where users can collateralize KAS or other coins.
A major part of the problem inherited from other ecosystems and markets is this: no one wants a transparent ledger where they can be completely tracked by anyone with an internet connection. Even in a hypothetical future where Kaspa is used as a currency to pay for services, employees, or payroll, no one not even companies wants this, which is why business projects like Canton have emerged.
ETH, Solana, and BSC are working on this, so it’s best to take the initiative, especially if the goal is to create prediction markets, perpetual DEXs, or something similar to Raydium. Because if this step is skipped, these products will continue to suffer from a lack of privacy. It’s better to build on this foundation so that the products will be much more comprehensive down the line, and we won’t have to spend another three or four years waiting for updates to catch up with other networks that are already working to implement it.
Keep this in mind when deciding where to devote your time building, because NFTs, memes, and all that even though they can occasionally generate some volume are already way too overhyped and oversaturated, not to mention that the market is completely dominated by cliques, scammers, and a lack of real purpose to keep it afloat and attract quality builders and users on a sustained basis.
Once you’ve met the basic requirements for 1) privacy and ease of use, and 2) a stable, censorship-resistant currency
you can do whatever you want and you’ll be ahead of 99.9% of other networks and ecosystems.
and start building:
- Prediction markets
- Raydium-style DEXs / Hyperliquid-style perpetuals / integration with Thorchain DEX
- Partnerships with digital product marketplaces and stores, Mullvad- or IVPN-style VPNs, wallets (Trezor, Cake Wallet, Unstoppable), etc.