What are the challenges preventing cryptocurrency from working on a large scale like centralized money systems?
There are several challenges that have prevented cryptocurrencies from working on a large scale like centralized money systems: Scalability: Many cryptocurrencies, such as Bitcoin and Ethereum, have faced scalability issues due to their limited capacity to process transactions. This can result in slower transaction times and higher fees. Volatility: Cryptocurrencies are highly volatile and prone to significant price fluctuations. This makes them unreliable as a medium of exchange, as the value of the currency can change significantly in a short period. Regulation: Cryptocurrencies are not regulated by central banks or other financial authorities, which can make them susceptible to fraud and abuse. As a result, many countries have implemented strict regulations on cryptocurrency transactions, which can make them less appealing to mainstream users. Adoption: Cryptocurrencies have not yet achieved widespread adoption, and many people are still unaware of their existence or how to use...
