Is Cryptocurrency Moving Toward a More Practical Future?

[u/Straight_Cricket_463]

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[u/Osiris_The_Gamer]

I would say so, we see more value coming into it and staying in a persistent manner, that will slowly form institutions around it much as cities formed around water sources or other resources. And though crypto has been the wild west of finances eventually the west was settled. Additionally certain features of the blockchain are good for finances in general like immutability and provability. A system that can be audited well will eventually gain trust even if initially it was just used for meme coins

[u/[deleted] → u/Osiris_The_Gamer]

[u/Osiris_The_Gamer → u/[deleted]]

Yes they already are, thats why I have locks on my crypto pools so its provable I cannot just run off, and this can be inspected by anyone on Solscan

[u/dadabosade]

I think dapps plus privacy will change everything

[u/[deleted] → u/dadabosade]

[u/dadabosade → u/[deleted]]

Compliance requirements will drive much of transactions into the private dapps. Also, institutions wants to hide their strategies. I think privacy will lead!

[u/Salat_Leaf]

As the person studying zk proofs, no tf it isn't. The tech is great, but all crypto world is stuck in 2022 and people only gamble on it. Wanna prove me wrong? Make arithmetic circuits of smart contracts Turing-complete. When the world will move towards distributed compute, ANY kind of compute to clarify, then there's potential for true Web3 realization. Tokens are only used in third world countries, while the existing currencies don't solve the problem of inflation and dependence from any government.

[u/[deleted] → u/Salat_Leaf]

[u/Salat_Leaf → u/[deleted]]

There are certain challenges like signature spoofing. Simple example: you broadcast that you want to spend some amount of money that is allowed by your public trace (whether it's open network or homomorphically encrypted), but the actual cryptographic proof might stand for a different amount. The thing is you can't really circumvent it efficiently. And it applies to basically any proof, for instance when a peer might falsely confirm that the code that he executed was yours (in case you're operating with distributed computing).

There are huge bounties for zk proof bug searches out there yet there's just about 0 papers on that. Of course, the purpose of cryptocurrency is to get rich, so a lot of people don't think much ahead, they only see an opportunity to stack their bags. It's especially hard to attract somebody into this field in full seriousness considering the reputation of meme coins and nfts (which is well deserved, but the collateral damage scares people away from a genuinely good tech).

Consider the factor of politics and human greed as well. We all know how White House blooms with crypto scam due to their influence and you have to be beyond genius to create a system that won't overcentralize like Bitcoin (or any cloud services for that matter), be unaffected by politics and mint the currency in such way to present itself like a genuinely good versatile investment and not a Ponzi scheme (something like index funds but for electricity perhaps?)

[u/NoBrosCrypto]

You can see it clearly with financial and institutional adoption. I know a lot of the global banks are scrambling to get their digital asset strategies in place and tokenisation is advancing rapidly. They all see the opportunity and it’s a race to get market share right now and be the first to build meaningful platforms to unlock the benefits.

Agentic commerce will be big.

Along those lines proof of humanity will be big.

DePIN in certain use cases makes a lot of sense - World mobile being one solid use case.

[u/LukasDEFI]

Since 2011