How Crypto Has Evolved Overtime
A lot has changed in the crypto space, things are evolving, change is happening and the crypto technology is getting easier to understand and use. Have you tried to understand how crypto was being used and understood in 2009 or 2010? I think you need to have a little knowledge of programming at that time to fully understand or choose to use crypto. It would have sounded really absurd to me in 2009 or 2010 if you had told me that there is a type of programming I can have which isn’t approved by the government but I can use it to store my money and it is going to represent a huge medium of store of value. I am not sure there were available crypto exchanges you can easily buy bitcoin at that time.
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Two or three years after bitcoin was introduced to the world, other chains started emerging, although most of them are no where to be found now, but imagine how technologically changing it was. These other chains got motivation from bitcoin, created their own blockchains and coins. The technology was still looking complicated, few exchanges came up, most of them are no where to be found now. Other companies got inspirations from these crypto exchanges and created theirs. Buying crypto has always been through Peer To Peer(P2P) means, this has been the oldest means to buy bitcoin, but it needs a really high level of trust to be done between parties. A lot of people have used that means to scam a lot of people. But here we are with easy ways of buying bitcoin and crypto without any worries and done under a very short time with the purchasing media we have now, with your credit card you have crypto in your wallet effortlessly.
The DEX part of crypto is another part of crypto that has shown a huge growth and development in the crypto space, look at how easily you can swap one coin into another, you can easily swap BTC for ETH whatever available pair you like, few years ago this was not available. Right now, I consider the complicated part of crypto to be the cold storage. While cold storage is quite popular, not everyone is using it yet, besides its usage is being limited, I am not sure it can store everything crypto. But the rate at which the use of cold storage is increasing, this means that in few years time, cold storage will be used as much as we use the mobile wallet.
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Crypto has come to stay. In several times some prominent persons have talk down on crypto. However, this is something that has come to stay. Kudos for your write up
thanks a lot, the whole crypto experience is proof that crypto is for the long term.
Cold storage is complicated for most people and hot wallets are super easy to compromise. There needs to be a middle ground where people begin to learn more about multisignature wallets so they can control their funds with multiple keys and protect their funds online at the same time.
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