How Does the Decline of Cryptocurrencies Help the Blockchain?

Updated on January 2, 2019 in Bitcoin
0 on January 3, 2019

From its first launching to the public, blockchain technology has been known to power cryptocurrencies. The blockchain technology was first known to the world side by side with a digital currency which is Bitcoin.

Since then, developments in cryptocurrencies have been made and discovered, one of the biggest being blockchain games with digital currencies as a mode of payment. Examples of blockchain games range from digital collectibles to casino games. This is why for most, blockchain is hard to picture without cryptocurrencies.

But this year, cryptocurrencies’ value dropped in what we may call as digital currency drought. But as all economies are, this phenomenon is natural and is bound to happen. What best things to look at are the positive sides to this dilemma.

With its decline, the entanglement of cryptocurrencies and the blockchain technology start to loosen up. Because of this, the focus on blockchain technology becomes more and more specific. Investors on blockchain technology that tries to veer away from the cryptocurrencies discover more and more useful ways to apply it to. More innovative designs come out of blockchain technology without including the cryptocurrency and finally, we can say that this is the start of blockchain’s rise to the public’s attention especially when blockchain technology eventually becomes applied to people’s daily lives.

Everything has pros and cons. Weighing the negative and the positive is a natural thing to do, but it is so much better if we see the positive side more often, even amidst of a big negative situation in front of us. Let’s just hope that 2019 brings the blockchain technology that we all need—something that will make our lives easier, and this world better.

  • Liked by
Loading more replies