Like every family, cryptos come in all shapes, sizes, kinds of weird and challenged areas. But, one challenge facing them all is the good old painful subject of scalability. No, this is not another write up on how scalability is bad for bitcoin or ethereum. Or any blockchain. Here is a chain of reactions, shortened and put together for your precise understanding.
Scalability means the ability to scale, grow to a whole new level, become global and then catering to huger and huger amounts of people, in a bigger and yet micro manner, whereby everybody really enjoys the product in their own customized, special and unique way.
Think of Uber. Can blockchain beat Uber?
Well, in terms of the value of the cryptocurrency market, it has. But, in terms of the people using Uber and the number of times, Uber is used in each day and the amount of a load of people it can bear on itself without clogging its system is why it is a big, large, fat, very very scalable business. Also, the fact that it is spreading from one place to another at a blitzscaling speed is another reason how it is showing signs of a hyper-startup, just like our crazy hot go-to Airbnb.
So is blockchain good enough, does it match Airbnb, Uber and their likes? Is blockchain really a startup form?
Well. The answers as you may have guessed are no, blockchain is too slow, and too remotely used as of now. The promise is incredible, but it all goes to waste when we take a look at the scalability situation.
No scalability is like a dead end for blockchains. It is so good if we cross it and if we do not, well, then the dystopia is real and there is no scope for improvement or getting out of this mess until the next moment in history when it gets picked up again. Thus, sadly, all our crypto babies are in trouble!