Is cryptocurrency advancing dramatically? Maybe this is an illustration of this effect, but I haven't seen any news about any major changes, other than line-go-up stuff.
Is cryptocurrency advancing dramatically? Maybe this is an illustration of this effect, but I haven't seen any news about any major changes, other than line-go-up stuff.
Ironically, the most prominent advances have not actually been in cryptocurrencies themselves but rather in the traditional financial institutions that interact with them.
For instance, there are now dozens of products such as cryptocurrency-backed lending via EMV cards or fixed-yield financial instruments based on cryptocurrency staking. Yet if you want to use cryptocurrencies directly the end-user tools haven't appreciably changed for years. Anecdotally, I used the MetaMask wallet software last month and if anything it's worse than it was a few years ago.
Real developments are there, but are much more subtle. Higher-layer blockchains are really popular now when they were rather niche a few years ago - these can increase efficiency but come with their own risks. Also, various zero-knowledge proof technologies that were developed for smart contracts are starting to be used outside of cryptocurrencies too.
No news is good news. A boring article like "(Visa/USDC) settles trillions of dollars worth of transactions, just like last year" won't get clicks.
on the commerce front, it's really easy to find small-to-medium size vendors who accept Bitcoin for just about any category of goods now.
on the legal front, there's been some notable "wins" for cryptocurrency advocates: e.g. the U.S. lifted its sanctions against Tornado Cash (the Ethereum anonymization tool) a few months ago.
on the UX front, a mixed bag. the shape of the ecosystem has stayed remarkably unchanged. it's hard to build something new without bridging it to Bitcoin or Ethereum because that's where the value is. but that means Bitcoin and Ethereum aren't under much pressure to improve _themselves_. most of the improvements actually getting deployed are to optimize the interactions between institutions, and less to improve the end-user experience directly.
on the privacy front, also a mixed bag. people seem content enough with Monero for most sensitive things. the appetite for stronger privacy at the cryptocurrency layer mostly isn't here yet i think because what news-worthy de-anonymizations we have are by now being attributed (rightly or wrongly) to components of the operation _other_ than the actual exchange of cryptocurrency.
You wont find net-positive discussion around cryptocurrency here, even if it is academic. It's hard to point a finger exactly how things got this way, but as someone on the engineering side of such things it's maybe just something I'm able to see quickly, like when you buy a certain vehicle, you notice them more.
Yes. No claims on social benefit, only evidence supporting thesis that cryptocurrency is advancing
- Stablecoins as an alternative payment rail. Most (all?) fintechs are going heavy into this
- Regulatory clarity + ability to include in 401(k)/pension plans
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