Analysis of Magic, Gala, Algo, etc.

Source: Daoshuo Blockchain

1. Is Magic going to upgrade the Ethereum network?

The Magic team (Treasure) recently launched a second-layer extension system based on Ethereum (https://portal.treasure.lol/). According to the official description, this second-layer extension is aimed at the gaming ecosystem.

This is the biggest and most substantial progress of this project in the past two years.

From the information disclosed on the project's official website and the system that has been launched, this second-layer extension system itself does not have a very outstanding feature, so I think the most worthy point for the project to break through is still in the construction of the ecosystem---at least to allow as many gaming applications as possible to run on its system.

Among the second-layer extensions of Ethereum that are currently focused on the gaming ecosystem, the two projects I know of are Magic and Redstone (Ronin is not a second-layer extension of Ethereum, it can only be regarded as a side chain).

From the number of these second-layer extension projects alone, the current competition in this field is not too fierce. But considering that Ethereum has not produced any popular blockchain games in this round of bear market so far, whether the expansion system of game ecology can develop remains to be observed.

Anyway, Magic has finally taken action, and I hope it can create miracles.

2. How about the Gala coin?

There are many investors who are optimistic about the Gala project online. I have also read the official introduction and expressed my views in the article.

Overall, I think this project involves many entertainment-related fields, and there are too many and too complicated things to do. I am afraid that it will be difficult to implement them in practice.

In addition, as far as the current Ethereum ecosystem is concerned, there are almost no popular applications in the sub-sectors that are strongly related to entertainment since the development of this round of bear market. This makes it even more difficult for projects like Gala to advance and have substantial progress and effects.

So I didn't touch this project.

Some readers also asked, can Ethereum's blockchain games develop?

I always think that this ecosystem will definitely develop, because the characteristics of blockchain are very suitable for games.

But will the popular chain games in the future be what we imagine now?

I doubt it very much.

I always think that the chain games that will really be popular in the future in the crypto ecosystem may not be in the form we can imagine now, and may not even be the full chain games I have always imagined (of course I hope so), but it is likely not those high-definition, high-definition, pseudo-chain games wrapped in Web 3 but actually Web 2.

3. What is the latest situation of Bored Ape and Mutated Ape?

I haven't paid attention to Bored Ape for quite a long time. During this period, it seems that the project has not revealed any major changes or new progress.

I still think that if NFT projects like Bored Ape that need to continue to move forward cannot find a sustainable development path, they will continue to stagnate, and the consensus will be consumed and eroded step by step.

This is not only true for NFTs in the Ethereum ecosystem, but also for NFTs in the Bitcoin ecosystem.

4. Is there still hope for the Algo public chain?

This public chain once had a very high starting point: it was endorsed by first-class investment institutions and Turing Award winners...

But since I determined that other smart contract public chains would be difficult to compete with Ethereum and difficult to become mainstream, I no longer pay attention to these blockchain public chains (no matter how shining the halo is on them).

So I won’t have any expectations for it.

If these public chains cannot get out of their own characteristics, or are still stuck in the homogeneous competition with Ethereum, their future is relatively dangerous in my opinion.

I think the transformation path that CKB is taking now is worthy of reference for those "highlight" public chains in the past.