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ETH · 19w

Will 2019 Signal the Dawn of the Cryptocurrency Awakening?

Osato Avan-Nomayo · June 2, 2018 · 12:00 am

In January 2019 – just six short months from now – blockchain technology will be a decade old. Satoshi Nakamoto, the mysterious creator of Bitcoin, released the Bitcoin code in January 2009. Since then, more than 1,600 other cryptocurrencies and several blockchain projects have emerged. One of the most significant questions that remain is when will this exciting emerging technology achieve mass adoption?

Speculative Investments Giving Way to Real Cryptocurrency Utility

Beneath the flurry of investment news that comes up every single day in the digital currency world, cryptos are still seen as a speculative investment. According to Zerion founder, Evgeny Yurtaev:

There is a lack of use cases for cryptocurrencies apart from speculation.

Even with ICOs, most investors seem to be searching for the next Bitcoin or Ethereum, that crypto asset whose price will increase dramatically. For cryptos to gain mass adoption, speculation needs to give way to real utility. Blockchain projects must become widely used by the everyday person on the street. For this mass adoption to occur, DApps have to achieve mainstream status.

The Rise of the DApps

Bitcoin revolutionized the payment arena, but Ethereum revealed the potentially limitless utility potential of the blockchain. Thus, developers have been busy creating numerous decentralized applications (DApps) promising intuitive solutions to diverse problems. According to State of the DApps, there are 1,565 decentralized apps built on the Ethereum blockchain alone.

DApps hold the key to widespread crypto adoption far removed from the payments realm. The ability to interact with cryptocurrencies while navigating user-friendly mobile and desktop applications will bring digital currencies to the forefront of social consciousness. However, these DApps must offer a superior service to than their centralized counterparts. Otherwise, people will h...

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