In 2017, the amount of brick-and-mortar retailers accepting cryptocurrency grew by 30.3% to over 11,000 retailers globally. This pace is expected to pick up in 2018 to over 20,000 retailers.
As the following infographic from https://net-cents.com (via TheVisualCapitalist) points out, there are major hurdles still facing the space before we can even begin to discuss mass adoption throughout the world. Regulation, taxes, volatility, transaction fees, etc being just a few of them.
They point out mainly 3 major challenges:
Price volatility
In 2017 alone, the Bitcoin price fluctuated between $1,000 and $20,000. Big swings in price make it unattractive for day-to-day transactions. (EOS can solve this via smart contracts, e.g. bitUSD)
Slow transaction times
The average confirmation for Bitcoin takes about 20 minutes per transaction right now – but during past stretches of activity (such as in Jan 2018), it got as high as 41 hours. (EOS solves this with under 1 second confirmation times for blocks)
High transaction fees
The average transaction costs around $1 right now, but just months ago, the average Bitcoin transaction costed $40. (EOS solves this with FREE transactions)
Pretty easy to see why EOS is headed higher...it solves a lot of the fundamental problems people see with blockchain technology. The word just needs to get out.
I am Lord and I have Stackitis...but there are worse problems to have in life...
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