Memes as a Luxury for Public Chains: A Comparison with City Development

According to PANews, the continuous creation of memes on public chains like Ethereum (Eth) and Solana (Sol) can be seen as a luxury for most public chains. Memes, which may seem simple and non-technical, pose a significant challenge for most public chains to keep up with new stories and entertainment. The author compares public chains to cities, with most public chains currently being small villages with basic infrastructure and limited commercial activity. Memes are likened to restaurants in a city, where a small village may not have any due to a small population and people cooking for themselves. In contrast, cities have a diverse range of restaurants catering to various tastes and budgets, with new establishments constantly emerging. The presence of good restaurants in a city may not seem significant, but it often indicates a thriving city. Similarly, public chains are complex systems that need to be developed step by step, with each stage interconnected. The development process involves first speculating on land (native tokens), then establishing basic infrastructure (software and facilities), followed by the service industry (memes and NFTs), and finally more complex technologies (blockchain games and social interactions). From this perspective, Ethereum remains at the forefront, with the most advanced blockchain games and social interactions within its ecosystem. Ethereum's early start and unique opportunities allowed it to capitalize on the ICO boom, surpassing even Bitcoin in asset issuance. Other public chains still have the opportunity to catch up, but it is difficult to skip intermediate stages. They need to leverage clever strategies and seize opportunities, such as the recent Bitcoin ecosystem revival, to achieve leapfrog development.

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