/biz/ - Business & Finance

Software dev and /biz/ oldfag here who bought the ICO. Let me explain why I think GRT is extremely overvalued.

The best argument for GRT is that there are no competitors.
Who cares if they're not around yet? They don't need to be if the product doesn't have a huge, insurmountable barrier to entry. Simply put, the project is extremely easy to copy. There’s nothing stopping a dex like pancakeswap from forking it to BSC.

I agree that GRT has first mover advantage. But Salesforce is still Salesforce despite being late to the game after Act! or Siebel Sales Handheld. Zoom was founded nearly ten years after Skype, yet the latter is on its last legs. And there are thousands of such examples. Platforms that rely on network effect, conversely, have a much more significant first mover advantage (social media, ecommerce, etc.).

There is inherent value in the chainlink network because of node reputation. GRT doesn't need to establish trust, it just needs to convert data from one format to another. If the library was clientside then you could validate its output yourself.