Has cryptocurrency failed for the time being?
More than a decade on, bitcoin has numerous flaws. Fungibility, scalability, and stability being the main faults. There are coins that solve all of these problems (monero for fungibility, nano for scalability, and dai for stability) but none so far that solve all three.
Is it a failed experiment for the time being or is there still hope? All central banks are "investigating" CBDCs. I interpret from their statements that they have everything developed and tested. They are just waiting for the right moment to introduce them.
Ripple has also signed partnerships with numerous banks all over the world so their XRP is most likely to become more popular. I think it's a promising experiment. There's lessons to be learned and improvement to be made. However, I just despise people we try to shove crypto down our throats. It became a solution in search of a problem.. Mimblewimble improves both fungibility and scalability.
Unlike Mimblewimble, nano does nothing to reduce the burden of full validation as it still needs to reprocess the entire history of transactions. Crypto is still a work in progress. Pls remember that it took nearly two decades for the Internet to become mainstream and highly usable. so what you're saying is wait another 8 years?