But the question arises, 'Are other cryptocurrencies decentralized enough'?
For cryptocurrencies, the strength of network defines the level of decentralization. Bitcoin Network is backed by thousands of volunteers contributing their hash power to make this network hard to hack. But can this be said for other cryptocurrencies? Maybe same could be said for Ethereum Network too but every other network is certainly prone to centralization. In such circumstances, it is very much possible that parties holding major stake in any cryptocurrency's network would exert extra control/manipulation on currency supply if the price of currency increased dramatically as we seen in the case of XRP. I don't see big future (in trillions) ahead for crypto market except for Bitcoin.
Topic: Can decentralization lead the next phase of the economy? - page 3. (Read 464 times)
its becoming clear that other cryptocurrencies might rise to compete with the Bitcoin's marketcap.
I don't see any clarity on this. How could the other cryptos that can be par with bitcoin in terms of market cap? there's no coin that be equal with its market cap.And looking to that day, it's highly not going to happen.
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As long as all of the government is not accept bitcoin, we won't see bitcoin will change the world economy, and all of the global markets will be like what we see now. It needs interfering with the government to improve the economy or the market, and the decentralized system can not run without centralized, which will control the process. Maybe that is what will happen. But if the government doesn't have a choice to survive, I think the government will accept crypto and use crypto as what they usually use. I am sure there will be regulations from the government which can control the cryptocurrency and the market.
The entire cryptocurrency market capitalization is a toddler when compared to the global markets like the stock market and the commodity market. considering where Bitcoin started, the whole ecosystem have come a long way since the past decade.
Bitcoin has been the dominant cryptocurrency for long now, I think that could change in the future. For the market to grow large and compete with global market, its becoming clear that other cryptocurrencies might rise to compete with the Bitcoin's marketcap. Top players from the traditional market need to get involved in cryptocurrency and issue decentralized products, the space need a lot of attention at this time. Such close competition could be setting the stage for a multi trillion crypto market.
But then, what is uncertain is regulation, can cryptocurrency grow into a multi-trilion market without the proper regulations?
Not as a mainstream economy for sure. Moreover to my surprise global markets look pretty stable now. The whole aura of huge market crashes and big depression is almost gone. People are thinking that recession's over. Talking about bitcoin Adoption would be possible only if we start to use bitcoin as a currency. But I don't see it's inherent problems getting resolved. The scalability and high fees issue still remains the problem. LN is just a dream we are taking from past 3 years. There is no reason why I think cryptocurrency market go mainstream in the next phase at all. Once while bitcoin was trying to fetch more capitalization in global space now is fighting in terms of capitalization in crypto space itslef. Bitcoin has been the dominant cryptocurrency for long now, I think that could change in the future. For the market to grow large and compete with global market, its becoming clear that other cryptocurrencies might rise to compete with the Bitcoin's marketcap. Top players from the traditional market need to get involved in cryptocurrency and issue decentralized products, the space need a lot of attention at this time. Such close competition could be setting the stage for a multi trillion crypto market.
But then, what is uncertain is regulation, can cryptocurrency grow into a multi-trilion market without the proper regulations?
The entire cryptocurrency market capitalization is a toddler when compared to the global markets like the stock market and the commodity market. considering where Bitcoin started, the whole ecosystem have come a long way since the past decade.
Bitcoin has been the dominant cryptocurrency for long now, I think that could change in the future. For the market to grow large and compete with global market, its becoming clear that other cryptocurrencies might rise to compete with the Bitcoin's marketcap. Top players from the traditional market need to get involved in cryptocurrency and issue decentralized products, the space need a lot of attention at this time. Such close competition could be setting the stage for a multi trillion crypto market.
But then, what is uncertain is regulation, can cryptocurrency grow into a multi-trilion market without the proper regulations?
Bitcoin has been the dominant cryptocurrency for long now, I think that could change in the future. For the market to grow large and compete with global market, its becoming clear that other cryptocurrencies might rise to compete with the Bitcoin's marketcap. Top players from the traditional market need to get involved in cryptocurrency and issue decentralized products, the space need a lot of attention at this time. Such close competition could be setting the stage for a multi trillion crypto market.
But then, what is uncertain is regulation, can cryptocurrency grow into a multi-trilion market without the proper regulations?
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