Exploring the Evolution of the Innovation Cycle: Why Are Excess Returns Often Reaped by Secondary Developers?

Original Title: When Innovation Compounds: The Second-Order Effects of Crypto PrimitivesOriginal

Author: Saurabh Deshpande

Original compilation: Felix, PANews

If you witness what is happening on-chain, you may feel like the "end of the world" is coming. It can even be said that artificial intelligence has replaced cryptocurrencies as a hotbed for future technological development. There is some truth to all of this, but it's best to look at the bigger picture.

This article explains how the innovation cycle evolves incrementally to reach the point where technology finds market fit. Today's story will delve into the commonalities between Uber, Pendle, and EigenLayer. Hopefully, it will help you dispel the pessimistic rhetoric on Twitter and find a new perspective.

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