Why or will we need multiple crypto currencies?

Will different people really be paying with different crypto currencies and why?

and if the U.S just declares an official U.S Crypto Currency what will happen to everything else?


This is all IMHO,

The banking\financial use case of blockchain is just one of many different uses for the tech and there will be different blockchains for other areas. I don’t see a world where we have 1000’s of blockchains all doing the same thing differently but rather a blockchain network per use case where that use case is unique enough to justify a different blockchain, but we as a society will decide that.

I also think that blockchain tech will influence our lives in ways we cant even predict yet, who could have predicted how we use the internet today 30 years ago.

Smart Contract blockchains like Cardano will solve many use cases but other blockchains will solve different use cases.

I have a pie-in-the-sky dream as a developer that one day there will be a network that I can host my software on that will give me the full power of the network for FREE, I dont know how, or even if, this can be done, but a man can dream :slightly_smiling_face:

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This was incredibally insightful. Thank you.

Consider the perspective expressed in Adam Hayes paper - World monies or money-worlds: A new perspective on cryptocurrencies and their moneyness | Adam Hayes, PhD, CFA

This makes the most sense to me. Thank you for sharing.

Thank you for this info

There are many different types of cryptocurrencies, each with its own set of features. One of the reasons we see so many cryptocurrencies is because of the fundamental blockchain technology. It allows programmers to design a variety of cryptocurrencies with varied capabilities.

We have cryptocurrency that can be used as money. They are essentially a store of value that can be utilised in the same way that traditional fiat currency can. This includes Bitcoin among other digital currencies.