Wise crypto projects are following the best strategies to make their future sustainable under huge competition.
As all of us know very well, the adoption of the crypto industry is increasing rapidly despite huge ups & downs in the value of the digital assets. The main reason behind the increasing crypto adoption is technical level use cases of these crypto & blockchain technology as a decentralized tool for data systems & also in the payment system.
In the present time, BITCOIN stands uniquely as the best store of value against inflation but this thing is not the same for all other crypto assets like Ethereum, Solana & Cardano crypto projects.
Every year huge numbers of crypto projects enter this industry & also few crypto projects collapse, here we can take an example of the Terra (LUNC) project. Here we are not talking about the crypto companies, instead talking about only new crypto assets.
Bitter truth in the crypto industry
It is a popular thing in the Crypto industry that every crypto asset has its unique use case but in reality, almost every crypto asset can fulfill every type of need. Most of the projects showed support for the payment option as a highest priority, even though a less scalable blockchain network like Bitcoin can provide high scale & fast payment services easily via the use of lightning network concept.
So here every crypto coin project is just like an illusion that these will boost the crypto-based payment system via blockchain technology. Perhaps we should not forget that there are still some better innovative crypto projects which are working uniquely.
Wise projects are doing well
In the present time, Ethereum is enjoying first mover advantage in the crypto Industry and also Ethereum project team knows very well that it may not sustain its future by remaining bounded with traditional technology, so it is working to shift the Ethereum blockchain network to the latest consensus, PoS, to provide high efficient crypto transactions and also efficient trading in Ethereum Defi ecosystem.
We can take another example of the Solana blockchain. Solana Labs is working on its offline stores and Solana blockchain technology-inclined features supported smartphones, to sustain Solana real use cases in the real world. In short, Solana is trying to create its ecosystem to remain away from competition.
Here it will not be bad to take the example of the Cardano blockchain, which is working to make the blockchain network available to use at the commercial level.
These things are clear examples that the real use of cryptocurrencies will make them remain sustainable in the industry and rest of them may remain under the category of a crypto asset only and they will always struggle to grab traction.
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