maryclunts (maryclunts)

TIL Mirror is now Paragraph. Now that it's 2026, it's an apt opportunity to review my first post on Mirror from '21, one last time. The biggest divergence from this post is that demand for public blockchains has proven to be a negligible fraction of expectations. As a result, overall progress has been much slower than expected. Of course, I acknowledged that error as early as 2022, and examined why throughout 2022-23 with a focus on applications rather than infrastructure. What has continued to surprise me, and still shocks me to this very day, that the industry's sole focus is *still* infrastructure and supply expansion, almost no one cares about applications or stimulating demand. No wonder demand has fallen far, far short of expectations. Not that the post was all wrong. Bear in mind that in 2021 the play was "the future is hundreds of L1s", so generally, things have played out as hoped, just at a negligible fraction the scale.

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