Does the world need crypto? Part 4: The ingredients of the perfect blockchain

Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english.

Welcome back to our mini-series on: Does the world need crypto? This is the final part, so make sure you start from the beginning.

By now you know: Bitcoin was born out of idealism – but it's taken a very long time for crypto to finally catch up with real-world use cases. And still, Bitcoin is limited in functionality, slow, and a planet-killer. Ethereum could do it all, but is expensive to operate and slow.

So, today: Let's talk about the making of a perfect blockchain, one that solves real problems, and solves them efficiently.

First: speed and throughput. Just VISA alone can process around 10,000 transactions per second. The true amount of times money changes hands every day is impossible to estimate, but for context: Ethereum currently processes only about 15.

Second: Decentralization - is a blockchain really free from the influence of a few? While many claim they are decentralized, they are actually under the control of a few who hold a lot of voting power. And others like Ethereum have the opposite problem: They can't seem to adapt quickly, because there are so many moving pieces.

Third: Is it easy to use? Can you imagine paying with crypto at the gas station, if you have to exchange things and then fumble for a strange wallet ID? Of course not. How blockchains think about the end user experience will determine how popular they become.

And last: Does it accomplish all of this while doing good? We here at cryptohunt are very critical about Bitcoin and Ethereum's energy usage, when faster carbon neutral or even negative alternatives already exist. Is it limited in growth because it only helps rich people trade expensive NFTs or does it enable billions of small payments in places where people don't have fair access to bank accounts?

All these should give you a great starting point to do your own research into what may succeed in the long run. And of course it is no coincidence we care about that - you'll find answers to all of these on cryptohunt.it when we launch next week!

Disclaimer: This podcast references our opinion and is for information purposes only. It is not intended to be investment advice. Do your own research and seek a duly licensed professional for investment advice.