Introduction
In January 2019, Ma Haobo, founder of aelf, participated in Odaily Planet Daily's 2019 Big Talks blockchain interview series. The discussion focused on public blockchain evolution, industry challenges, and future trends. Below are key takeaways from his perspectives on improving blockchain usability and fostering real-world integration.
Public Blockchains in 2018: Key Developments
What Stood Out in 2018?
Ma highlighted renewed venture capital interest in blockchain since 2017–2018, alongside growing attention from influential figures. This shift helped legitimize blockchain technology beyond niche circles.
"VCs and thought leaders recognizing blockchain’s potential marked a pivotal step toward mainstream acceptance."
The Role of Public Blockchains: A Historical Parallel
Comparing Blockchain to Early Internet Stages
Public blockchains serve as foundational infrastructure, akin to early internet protocols. However, the industry remains embryonic, with limited demand for decentralized solutions.
Ma draws parallels to the 2000s internet era—where use cases like QQ and portals dominated—mirroring today’s blockchain landscape centered on exchanges, ICOs, and tokenized games.
Priorities for Public Blockchain Success
Top Three Focus Areas
Usability:
- Ensure user-friendly interfaces for consumers (C-end).
- Simplify development processes for businesses (B-end).
Scalability & Stability:
- Support high-performance environments as user bases grow.
- Isolate resources to prevent application interference (e.g., Ethereum’s congestion issues).
Industry Collaboration:
- Attract traditional industry developers (e.g., e-commerce platforms) to build practical DApps.
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Current Challenges Facing Public Blockchains
Major Bottlenecks
High Entry Barriers:
- Complex fee structures and technical jargon deter mainstream adoption.
- Solution: Hide backend complexities (e.g., CPU costs) and let service providers handle transactions.
Performance Limitations:
- Low TPS and lack of resource isolation hinder scalability.
Predictions for 2019 and Beyond
Trends to Watch
- Market Consolidation: Expect a shakeout among blockchain projects.
- DApp Emergence: More decentralized applications targeting real-world needs.
- Industry Disruptors: Blockchain needs innovators akin to "Pinduoduo" to challenge norms.
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FAQs
1. Why is usability critical for public blockchains?
Usability drives adoption. Simplifying interactions for end-users and developers ensures broader accessibility and faster ecosystem growth.
2. How can public chains avoid Ethereum’s congestion issues?
Implement resource isolation (e.g., sidechains) and optimize fee structures to prevent network spam.
3. Will traditional companies adopt blockchain in 2019?
Yes—industry leaders with domain expertise (e.g., e-commerce) are best positioned to build impactful DApps.
4. What’s the biggest misconception about blockchain today?
That it’s only for cryptocurrencies. Blockchain’s real value lies in its decentralized trust mechanisms for diverse applications.