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Bitcoin Dominated Crypto Markets May Provide Better Alternative than Outdated Legacy Financial Syste

  • May 13, 2021
  • Omar Faridi
  • 16

The team at Blockchain.com, a leading crypto wallet service, block explorer, and trading platform notes that Vladimir Ilyich Lenin (the Russian revolutionary who founded the Soviet Union) had said that there are “decades where nothing happens; and there are weeks where decades happen.”

Blockchain.com writes in a blog post that they believe future historians will look back on the unprecedented events related to the trading of GameStop (GME) stock as “extremely significant to the future evolution of financial market infrastructure.”

In their blog post, titled “When the Game Stops” (because of their growing conviction that more people are “waking up” to the major problems with our financial system and are “demanding change”), Blockchain.com notes:

“The problems exposed in our opaque and inefficient market infrastructure are not new. What just changed was the broadening visibility of these problems. GameStop helped more people see behind the curtain of how the financial system game is played. And the bipartisan outrage, which is winding its way to Congressional hearings, is justified.”

Blockchain.com also mentioned that it can be difficult to imagine a “more perfect” advertisement for why blockchain or distributed ledger technology (DLT) and decentralized finance (DeFi) should “underpin” the financial system of the future.

According to the digital assets firm, one of the ”most exciting” aspects of a truly decentralized financial system is that DeFi provides “a rare and open opportunity to everyone to invest directly in the next generation of financial infrastructure as it is being built.”

The blockchain firm claims they’re working hard to make sure that anyone with Internet access and a computing device (including those without a lot of investable capital) can take part in this emerging decentralized financial system.

Blockchain.com points out that if you’re reading this content, then you don’t have to take a back seat and simply hope or wait for the future financial system to unfold. You can’t only help “make it happen, but you can profit from making it happen,” the company claims.

They added:

“Crypto has always been a call to arms.” 

The company recommends trying out digital currency trading and investing by creating a crypto wallet and perhaps purchasing Bitcoin other virtual assets like Ethereum. Thera are now many companies across the globe like Coinsquare from Canada which has made crypto trading and investing even easier for newcomers to the space.

According to Blockchain.com, it’s important to actively get involved in the crypto space because it’s “the first step in joining us and others as we build a more transparent, efficient, and equitable financial system.”

While sharing key developments in the crypto industry, Blockchain.com confirmed:

Going on to share further updates in the nascent blockchain sector, Blockchain.com noted:

They added:

The Bitcoin (BTC) network has become even “more efficient in processing ‘payments,’ which better reflect fundamental on-chain economic activity than ‘transaction’ metrics,” Blockchain.com revealed.

They also noted that the rising average transaction fees for Ethereum “potentially open the door to competitors that might be able to better support any dramatic increase in stablecoin flows.”

The report pointed out that although the Binance Mining Pool has “further diversified the number of top pools, its rising hash rate (amount of computing resources securing crypto networks) has coincided with a decline in hash rate share amongst smaller miners.”

Source: crowdfundinsider.com

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