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Alliance DAO Co-founder: It's hard to convince myself to hold L1 Token for the long term, as there is no "moat".
BlockBeats news, on November 28, Alliance DAO co-founder QwQiao posted on social media stating, "The reason I find it difficult to convince myself to hold L1 public chain tokens long-term is not because their price-to-earnings (P/E) ratios are high, but because they lack a moat. Without a moat, they will become commoditized and fail to capture meaningful value. Nowadays, users can easily transfer across chains. Apart from a few complex smart contracts, most application developers can quickly migrate from one chain to another. Moreover, launching a new chain is easier than ever. The switching costs for Blockchain are far less than that of infrastructures like AWS. The only way I see chains strengthening their moats is by verticalizing and controlling the Application Layer. My observation is that Solana, Base, and...
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