Mass adoption of cryptocurrencies may seem like a daunting task, but it is crucial for the blockchain industry to flourish. Onboarding the next billion users into crypto can be aided by media outlets like Cointelegraph, which help spread the news of daily events in the cryptoverse, ultimately increasing adoption.
The blockchain industry has only started witnessing significant adoption in the last five to six years. Comparatively, it took other technologies such as electricity, radio, and the internet several decades to become ubiquitously adopted. However, with Metcalfe’s law of exponential network effects suggesting that more users and usage lead to a shorter adoption curve, blockchain may experience faster growth than its counterparts.
One way to expedite crypto’s adoption is by providing accessible education resources for new users. Cointelegraph Research’s latest “ABCs of Crypto” report is designed to be a starting place for those new to the space. The report offers a high-level overview of major cryptocurrencies, blockchains, decentralized finance (DeFi), and nonfungible tokens (NFTs), along with links to other helpful resources. The aim is to help newcomers understand everything from the importance of DeFi to the differences between hot and cold wallets and the workings of NFT marketplaces.
DeFi and NFTs are identified as ideal starting points for the uninitiated. Finance and art are two areas that mesh seamlessly with blockchain, decentralized ledgers, and other crypto-related technologies. The “ABCs of Crypto” report begins with understanding Bitcoin before moving on to other major platforms like Ethereum and exploring decentralized exchanges. Readers are then introduced to the world of DeFi and offered a timeline of NFTs, demonstrating how these tokens can be used for a variety of purposes, including music, tickets, land, and identity.
Cointelegraph Research’s report is meant to ease new users into the realm of cryptocurrencies and encourage their adoption. By educating more people and enabling them to enter the burgeoning market, the blockchain industry might witness a significant boost in growth, catalyzing a paradigm shift in the world of finance and technology.
Given the importance of accurate and insightful content in cultivating the crypto community, Cointelegraph’s Research department comprises some of the best talents in the blockchain industry. Combining academic rigor with practical experience, the researchers are dedicated to providing market-leading industry reports and analyses. It is their collective effort behind the development of the informative “ABCs of Crypto” report.