The first to react isn't always what's important. It's the last to adapt well to a situation who really win big. Like Microsoft was the last operating system to create a benchmark, and Google was the last search engine to set the standard.
Republished and Translated from DOBI Trade
This is the sentiment of Silicon Valley Daniel Peter Thiel who expressed the notion towards a Stanford entrepreneurial class of the technology students.
Let people believe that the giant will always be overcome and followers will continue to join you.
More than today, this classic is not without reason. Just yesterday (August 7th) @人民日报 published on Twitter and Facebook, responding to news from Google’s plan to return to mainland China last week. It is said that Google is welcome to return to mainland China, provided that it must comply with Chinese laws. The People’s Daily pointed out that Google’s decision to withdraw its search engine service in mainland China in 2010 was a “great mistake”.
Immediately, Li Yanhong said on social media that if Google decided to return to China, we are very confident that we will contend once again and win once again. Li Yanhong said, "Over the years, Baidu has been considered to be a cheaper solution after Google withdrew from China. We can't prove that something has not happened. In fact, Google launched the independent search service in the Chinese market in 2000. In 2005, it increased investment, but Baidu was the latecomer, surpassing Google through technology and product innovation."
The war between the Internet giants is momentous. As an outsider we can only be in a role of observation, like watching a movie. There are advantages and disadvantages to each platform, the choice of this kind of thing in the Internet circle is always a "free for all" of taste. It is also because of this free atmosphere that the Internet has stepped into regulatory shackles, one foot at a time. But at the least it is being recognized as powerful. The user has his own choices, but everyone benefits under a competitive system, technological progress will be faster.
The science and technology industry is like the battle of today’s digital currency exchanges..
Hundreds of transactions currently indexed by CoinMarketCap and non-small statistical platforms, are not included in the media reports of market databases. There are thousands of missing pieces of data that the ecosystem does not see. In this case all the community can do look on and sigh. Everyone is trading anyway. Does the world need so many exchanges?
Let’s talk about market opportunities first..
If you compete for market share, you have to compete with the existing giants in the space. Which raises the question: What is the secret weapon of the existing big exchanges?
First, is the exchange’s secret weapon a unique technology ?
Many teams may say that yes it is, but the reality is that this is no longer true..
The Exchange layer, the Application layer, and composite data layer each require a separate server operation. IT technology investment is particularly large, from 0 to 1, non-function to functional, is difficult. This is also why early exchanges can create monopolies and hoard users. But the emergence of technology service providers has completely lowered the technical threshold of exchange platforms.
Most small and medium exchanges had no problem competing at all. Currently for most exchange teams, marketing and getting customers is still the biggest problem they face today.
What are big exchanges doing to blockade smaller ones from market share?
Three primary points that separate large exchanges from the rest are: branding, funding and talent acquisition, and their understanding of the industry.
Branding actually reduces the cost of acquiring users, and funds and talents allow large exchanges to experiment with various user experiences and ecological layouts. In order to consolidate its position and understand the industry, it is said that the big exchanges are more aware of the pitfalls of the exchange industry. They are more responsive to unexpected situations, their adaptability shines during bear markets.
An analogy to the traditional financial industry, DOBI has also said that regulation may be the only lifeline for most exchanges to survive. Future licenses may also become one of the exchange industries thresholds. But there are currently few large exchanges with digital currency exchange qualifications worldwide. Coupled with the different attitudes of various countries, it is still a difficult direction to achieve.
Exchange competition is endless.The exchange does not have its own secret weapon. Users also have no loyalty - it's all about user experience.
Currently,The biggest problem in the industry is that all exchanges are just fighting for a share of cryptocurrency users. Greater opportunity comes as the market grows though. When the market is down, everyone is collectively fighting each other for a limited number of users in a small pool.
Teams should focus more on how to open up new unknown markets instead of thinking about what better model for their exchange should be to grab more industry users from a small group of people.
For the development of the industry, there is no doubt that the steady growth is the greatest path to success.
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