Cryptocurrencies must achieve mass adoption in order to realize their full potential as a web technology and their value as a financial asset.
Like other technologies, cryptocurrency adoption follows a classic bell curve: starting with a small number of innovators, progressing as early adopters embrace it, and entering mass adoption as it expands to an early and late majority. In the end, it reached those who fell behind in the closing stages.
Bitcoin (BTC) adoption has increased dramatically since its launch 14 years ago. The cryptocurrency has gone from a fringe technology discussed by a small group of cypherpunks and nerds to something the world knows about, with some nation-states even adopting it as legal tender.
Still, the cryptocurrency’s global adoption rate is still in the single digits by most estimates, meaning it’s still in the “early majority” stage of global adoption.
To grow further and achieve true mass adoption, cryptocurrencies need to overcome the “chasm” – the gap between early adopters and the early majority. For this, certain catalysts may be required.
What are these catalysts? How far are cryptocurrencies from mass adoption?For more details, don’t miss the latest news Cointelegraph report exist youtubedon’t forget to subscribe!
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