5 Enormous Crypto Improvements I’m Looking Forward to in the Next Cycle
Every crypto cycle brings new investors, innovations, and ideas to the space. Here are five items I hope we see during this next cycle.
During the offseason, successful sports teams and franchises position themselves to be contenders for the next season. Team management focuses on drafts, trades, new coaches, and acquisitions. Athletes focus on training, practice, and learning to gain a competitive edge. If we look at the crypto cycle, we are now approaching the offseason. Speculators are tempering their expectations, and projects must become goal-oriented and focus on improving their offerings.
In the two cycles I have taken part in the crypto space, I’ve witnessed sweeping improvements, offerings, and mechanisms to draw more investors and users to the space. Some of the most extensive improvements I’ve experienced are the accessibility to crypto and usability. DeFi and NFTs brought millions of users to the space, and big-minded individuals are starting to connect the dots.
Nonetheless, we don’t have a specific solution appealing to a massive audience. Yes, NFTs appeal to tech-savvy collectors and speculators, and DeFi is a fun way to build and fund the digital ecosystem. Still, we need that killer app or use case to usher in the masses and remove any doubt existing for backward-thinking individuals. So here are five improvements I hope to see in the crypto space.
Improvement #1: A consumer-friendly wallet
Seed phrases are inefficient. Scammers have stolen excessive amounts of crypto assets via inexperienced investors sharing their seed phrases. I’ve almost fallen for it, and I know many others who have succumbed to this awful and costly experience.
And what about lost or miswritten seed phrases? We are told not to store them on our phones or computers, but isn’t crypto all about using technology and not relying on pen and paper?
It would be nice to have one wallet I can use for all of my crypto needs and feel that it’s secure. Instead, I now have defunct wallets from Terra, multiple wallets for Solana, and multiple wallets for Ethereum and Bitcoin. Metamask is…