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RE: What is the use of cryptocurrencies?

in #cryptocurrencies2 years ago

Dear @culgin

Finally I found some time to calmly read your publication with fresh mind :)

The most common complain about cryptocurrencies is that they cannot be used as a effective mode of payment

Personally I'm glad that crypto aren't trying to compete so much with current banking system and are not being used as a form of payment as much as many people would like it.

It seem that is' way better for crypto to be used as store of value or tokens providing some sort of utility. Less 'awful' regulations to follow.

transaction speed is still pretty slow right now. Bitcoin is doing 7 TPS and Ethereum around 25 TPS.

I've been always wondering - how is it possible that STEEM is so much faster than Bitcoin. It has always been blowing my mind. Any idea?

Great read. Upvoted already :)
Piotr

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STEEM uses the delegated proof-of-stake consensus which is arguably more centralized, however, it has greater speed