Readying The Blockchain Industry For The Next Wave Of Adoption

Who knows what’s responsible for the current bull run? It could be the upcoming halving, it could be the Chicago Mercantile Exchange’s debut of institutional-grade crypto-backed options, or it could even be the coronavirus. Whatever the reasons, it seems safe to say that the crypto winter is well and truly behind us. If this trend continues, it will only be a matter of time before we begin to see a fresh wave of adopters, eager to capitalize on the growth of crypto as it blooms into a new season.
It’s fair to say that the crypto scene has evolved significantly since the last big boom at the end of 2017. At that time, Binance was still in startup mode, there were far fewer ways to onramp from fiat, and liquidity was a significant challenge. These days, it’s a different story. Newcomers to cryptocurrencies have many more points of entry, and the influx of institutional and pro traders means that most of the top-ranking coins enjoy high liquidity.

Same old tech problems:

Unfortunately, we haven’t seen the same rapid evolution from a technological standpoint. If we look at the cryptocurrency rankings from December 2017, the month that Bitcoin (BTC) hit its all-time high, the top-ranking coins are approximately the same ones today as they were then.
There have been some incremental developments. Bitcoin is now handling the same transaction volume as it did at the peak of the 2017 bubble, but without the eye-watering $50+ fees that transactions were incurring at the time. However, it still lacks the fundamentals in terms of speed and scalability to become an everyday medium of exchange.

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