Indeed. Cryptocurrencies will always be at risk of imminent collapse until they can cope with a huge number of microtransactions. Just work out how much it would cost for me to send £5 to someone else via BTC - transaction fees overwhelm small amounts such as that.
It's also one cryptographic flaw away from falling apart completely.
A substantial flaw in either SHA-256 or secp256k1 (for example) could render BTC utterly worthless in an instant.
That's where layer two comes in. The Lightning Network (and its like) could facilitate smaller transactions off-chain to free up capacity and offer lower fees.
Indeed. Cryptocurrencies will always be at risk of imminent collapse until they can cope with a huge number of microtransactions. Just work out how much it would cost for me to send £5 to someone else via BTC - transaction fees overwhelm small amounts such as that.
It's also one cryptographic flaw away from falling apart completely.
A substantial flaw in either SHA-256 or secp256k1 (for example) could render BTC utterly worthless in an instant.