3 Obstacles to Crypto's Development and Mass Adoption & How Kinetex Overcomes Them
The potential for cryptocurrency and blockchain technology to fundamentally change the finance industry and other areas connected to it cannot be ignored. Nevertheless, several significant hurdles make it challenging for crypto to gain widespread acceptance and growth, including security, accessibility, and efficiency.
First, the world of cryptocurrencies can be difficult to understand and adopt due to a lack of education and accessibility. It results in a niche market with little awareness and reluctance from officials and companies to embrace crypto assets and related products. To overcome this, we must focus on educating people and creating more user-friendly platforms and services.
Security is a second notable challenge in the blockchain ecosystem. Relying on third-party validators for transaction processing and MEV attacks are some of the most pressing risks at the moment. Therefore, creating validator-free approaches and finding ways to protect from MEV searches is a way forward for many DeFi projects.
Lastly, cryptocurrencies face scalability issues, which result in slow and costly transactions, making them impractical for everyday use and trading. This inefficiency discourages users from considering them a viable alternative to traditional payment systems.
Read the full post on the Kinetex blog to learn more about problems obstructing the growth of crypto and how Kinetex is working to overcome them.
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