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Cryptocurrency is Not Blockchain’s Key to Mass Adoption Anymore
CryptoDice
Member Posts: 90 ✭
Blockchain has lots of opportunities, but it is never a or the panacea. Despite all of the great promises that blockchain holds, it is not the solution to everything. However, its great functionalities are enough reasons to strive to push it to mass adoption through the years to come.
Cryptocurrencies gave blockchain a promising edge in turning it into mass adoption. Since the digital currencies’ features include faster, more secure, more organized transactions not to mention cutting away intermediaries, it became the most ideal way of payments and money transfers. Through cryptocurrencies, blockchain-based games or decentralized apps (dApps) using digital currencies became popular. In-game transfers of money and purchase of attributes became more efficient through cryptocurrencies. Gambling dApps like CryptoDice also used cryptocurrencies for betting and game under the genre of collectibles like Cryptokitties pay for digital collectibles like cute kitties using cryptocurrencies, too.
But 2018 proved that the volatility of cryptocurrencies also makes it an unstable trump card for mass adoption. Now, just having a cryptocurrency functionality in dApp projects is not enough to promote blockchain or the digital currency itself. Mass adoption is the best way to reach more audience, and now, mass adoption is also the first and biggest obstacle developers are facing right now.
Resource:
https://hackernoon.com/lessons-from-the-most-popular-crypto-based-application-9f926798da29
DApps mentioned:
CryptoDice: https://luckydapps.com/
Cryptokitties: https://www.cryptokitties.co/
Cryptocurrencies gave blockchain a promising edge in turning it into mass adoption. Since the digital currencies’ features include faster, more secure, more organized transactions not to mention cutting away intermediaries, it became the most ideal way of payments and money transfers. Through cryptocurrencies, blockchain-based games or decentralized apps (dApps) using digital currencies became popular. In-game transfers of money and purchase of attributes became more efficient through cryptocurrencies. Gambling dApps like CryptoDice also used cryptocurrencies for betting and game under the genre of collectibles like Cryptokitties pay for digital collectibles like cute kitties using cryptocurrencies, too.
But 2018 proved that the volatility of cryptocurrencies also makes it an unstable trump card for mass adoption. Now, just having a cryptocurrency functionality in dApp projects is not enough to promote blockchain or the digital currency itself. Mass adoption is the best way to reach more audience, and now, mass adoption is also the first and biggest obstacle developers are facing right now.
Resource:
https://hackernoon.com/lessons-from-the-most-popular-crypto-based-application-9f926798da29
DApps mentioned:
CryptoDice: https://luckydapps.com/
Cryptokitties: https://www.cryptokitties.co/