The future of cryptocurrencies depends on their adoption, according to experts. Some of the big names in this field include the leading online retailers such as Amazon and eBay. Fortunately, the signs of potential adoption by them are not bad.
Even though they caused a lot of euphoria over the past few months, Bitcoin, Ethereum, Ripple and many other leading cryptocurrencies are still not present in the so-called real economy. They are not accepted as a means of payment – which is understandable if you see the problems that cryptocurrencies are dealing with.
A giant in the industry like Amazon, on the other hand, has to calculate a lot before starting to accept cryptocurrencies – as well as build a solid infrastructure that will support that. In a market that is volatile like the crypto market currently, this won’t be possible. The fluctuations of 20% – 30% daily on all cryptocurrencies are putting the adoption to shade and involving a considerable risk for retailers.
However, there is another point that is even more important: the transaction speed. With the Bitcoin Blockchain, there are only seven transactions allowed per second. Ethereum doubles that number. However, Amazon reported that they receive around 600 transactions per second – which means that the infrastructure needs to be further developed to prevent waiting times.
However, rumors say that these are only small troubles that Amazon is working to resolve in the foreseeable future. Other rumors say that Amazon already secured some domains connected to cryptocurrency – and will follow Starbucks’ move in accepting cryptocurrencies soon.
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