There’s no doubt that cryptocurrencies have taken the world by storm. They have gone from a relatively niche interest to a household name in just a few short years. However, crypto still hasn’t reached mass adoption despite all the hype. So, what’s holding it back? Dan Schatt and Domenic Carosa of Earnity look to promote mass adoption.
Bitcoin, the leader of the cryptocurrency pack, has been around for over a decade. However, its mass adoption is still in question. Many people cite fear as one of the reasons that hinder them from trying their hand at cryptocurrency. Stories about its volatility don’t do the cause any good, either. Confusion is another reason for low volume. People love what they know. Cryptocurrency tends to be confusing and intimidating, especially to beginners. Mass adoption won’t be possible without proper education and platforms to help people learn more about the industry.
Shows Great Promise
Scalability is another issue crypto mass adoption is facing. The current infrastructure of cryptocurrency will have to display better absorption of the number of transactions being carried out on the blockchains. In the past, infrastructures in their infancy were unable to scale up, failing to manage the huge influx of users. This problem is not foreign to the crypto community. However, it’s worth noting that developers, proponents, and advocates of the industry have started providing and implementing solutions to current issues faced by technology.
Over the past year, more and more merchants have started to accept Bitcoin as payment. While there are still problems to solve, mass adoption is sure to occur. Any industry that disrupts established protocols requires massive work and effort from its proponents and supporters to succeed. Executives of Earnity, Dan Schatt and Domenic Carosa believe in the potential of crypto and want it to be used as soon as possible. Since its inception more than ten years ago, cryptocurrency and its growth have shown great promise.