Why decentraland is falling? If you are interested in this study, do not hesitate to read this. You can get more information from this article.
Why Decentraland Is Fallin
The cryptocurrency that is decentraland has been steadily falling in price in recent days. It started as a strong contender to the top three coins but has since dropped to number twenty-one out of a hundred.
This is due to several reasons, but the main issue appears to be that it is overvalued. It would be logical to say that a decentralized virtual world would be incredibly valuable.
However, the problem is that the development of this project is not as advanced as other competitors in the market, such as EOS, Tron, and Ethereum.
Add this to the fact that the founder of Decentraland had no prior experience in software development, and it is easy to see why investors are wary.
What’s more, several ICOs have recently been that to do everything that Decentraland does but better. While this may not seem like a good thing for Decentraland, it explains the massive price decline.
Investors are moving their funds from Decentraland to other ICOs that are doing more with their technology and have a better chance of success. So, while the project itself has potential, investors are not convinced that it will deliver on its goals.
Centralized Organizations Are More Successful Than Decentralized Ones
Decentraland is a decentralized organization. This means that it does not have a central authority that makes decisions for the platform. Instead, all members of the community vote on the direction that the project takes moving forward.
While this sounds like a great idea in theory, in reality, it means that there is no leadership and no clear direction for how Decentraland should evolve.
This leads to disagreements and inefficiencies in the system. No one wants to make a decision, so no one does anything. When everyone has to agree on something before it can be implemented, progress is almost completely halted.
This is a major issue for Decentraland because most of the time it feels like the community is at a standstill. It has been months since the last vote.
This means that Decentraland has no real direction when it comes to development, and this could be why investors are so wary.
There are several major updates that Decentraland needs to implement to remain relevant.
However, updates are almost impossible to implement because no one wants to decide anything. This means that nothing can be until all members of the community agree!
The Future Of Blockchain Gaming
The Decentraland project has a lot of potential in the blockchain gaming space. With its decent number of users, the platform’s vision of a decentralized virtual world could be very successful.
However, with so much uncertainty about the future of blockchain gaming and the lack of strong leadership from the team, it looks like Decentraland is falling behind when it comes to competing with other blockchain-based gaming platforms.
In conclusion, Decentraland is falling behind its competitors, and it looks like it has no hope of gaining back the lost ground. While the project itself has potential, investors are moving their funds to ICOs with more potential.