Understanding Crypto is Still Growing

I know today of all days might not feel like crypto is growing but remember where crypto was 1 or even 2 years ago. Heck 5 years ago and the amount of growth that has happened in that short of a time frame. It's important to note that crypto is in fact still growing and with it comes some seriously huge growing pains.

Bitcoin Days

Bitcoin days were fun there was one Bitcoin and that was it. No altcoin for a long time until litecoin turned up and from there Ethereum. These few cryptos paved the way for what we have today. A large ecosystem that is growing but with every elivation comes many unknowns and bad actors.

Ethereum Days

Ethereum took the crypto world by storm and offered up the birth of many new tokens and applications. The issue however is it became the wild west where many tokens where created as junk projects that ended up turning into nothing. I mean some of them had legit projects but many of those fell flat either because they were right out a scam, a quick money grab or worse Ethereums network became so bogged down with high fees that these new applications just couldn't launch.

Today

Unfortantlly many of these growing pains are still with us today. While there are some new moves to create a better layer 1 solution such as Cardano, Polkadot etc. and some layer 2 options like Polygon it's clear to see these issues are still with us and the movement of money is going to take some time.

Even these layer two options are starting to run into issues. Such as Polygons new game that launched and skyrockets the fees on Polygon eating up a large portion of the networks abilities.

One of the more recent cases being Cardano who just launched a Dapp called SundaeSwap. This is just one of what would be later nearly a hundred of applications like it and guess what. Just one totally crashed the system. A lot of this is starting to show it's head because of bots systems that do little micro transactions to gain profits off of the exchange/swap. These are causing huge bottlenecks on the system but not only that there's also hype and demand from people wanting to jump in on these new projects and get first movers advantage.

This constant bottlenecking even on newer blockchains is an issue that needs to be resolved if crypto is ever going to really take off. It's important to not things are growing but the fees and slow chains are causing havoc on this growth right now in which blockchains need to seriously get figured out.

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