Cryptocurrency has gained the pace to enter world economic ecosystem. Cryptocurrency marketcap is about 350 Billion. That is huge money circulation in cryptocurrency. The volume of trading increase every year. New start ups become middle enterprise with million USD asset in short time like Tron, coinbase, chainlink, iex.ec, and many others. Cryptocurrency has created new millionares. Start ups and parties who involved in cryptocurreny projects have tasted the sweet candy of the crypto economy. Will crypto economy become the future of economic ecosystem in the coming years? What fundamental issues raise from cryptocurrencies? There are some basic problems that cryptocurrency supporters should asnwer.
1. Regulation
Since cryptocurreny is identical to anonimity, many countries still do not accept cryptocurrency as the payment system. Though cryptocurrencies are not banned, they still not comply with some regulations. Therefore, there countries treat cryptocurrency as digital assets not as money. Digital assets are legal to be traded but illegal to a mean of payment.
2. Security
Security is a great issues. Many new crypto user are vulnareble to the leak of assets. They don't have much knowledge about private key, paraphrase , mantra and pasword. News about hacked exchangers with million USD stolen assets make new comers in cryptocurrency think twice.
3. Volatility
Up and down of the coin price is a matter for merchants to accept cryptocurrency payment. They do not want to take risk of loosing profit due to the dumped price of coins. Merchants prefer accept CC, paypal and fiat to cryptocurrencies. A coin price can down to 30 % value only in a day. That is a big problem for businessman.
4. Transaction fee
Transaction fee is not problem for low volume of transaction in a network. When the network is loaded with large number of transaction, the transaction fee will increase to confirm the transaction. That will be a big issues when the fee is irrational. Many coins holders will move their asset if the transaction fee always matters.
5. Hardfork
Hardfork is a split chain of a coin. It will result two different coins. Wallet holders will earn airdrop 1:1 distribution. Hardfork will influence both native and new coin. Persons or companies with large amount of money can fund hardfork of a new coin. They fund to get short time profit from airdrop. They spend money for developers, miners, masternodes and exchangers. With strong funding, hardfork will be succesful in the market. That is a quick money creation methode in cryptocurrency. You may not aggree with this model of creating money but this a real case. How many hardforks of bitcoin? I am not sure but bch, btc diamond, btcsv, bitcoin gold, and other bitcoin coin forks. By hardforking, developers and supporters will earn quick money. Is this accepted in real economic ecosystem? Does this comply with government regulations? Those are big questions.
Conclusion
Cryptocurrency is in the early development. In the future years, there will be new ideas from developers so that the issues become less influence when most people have used cryptocurrency in their economic activities.
