03-23-2021, 08:54 PM
The idea of cryptocurrency has been around since the 80s but it only really took off when Bitcoin became the first cryptocurrency to solve the double spend problem.
Cryptocurrency does have its pros and cons. The electricity consumption is obviously an issue, which has largely been overcome by introducing new methods of verification (proof of stake), but this is reliant on people moving away from Proof of Work based systems. However I believe the pros greatly outnumber the cons, hence the popularity cryptocurrency has gained over the past decade.
Cryptocurrency does have its pros and cons. The electricity consumption is obviously an issue, which has largely been overcome by introducing new methods of verification (proof of stake), but this is reliant on people moving away from Proof of Work based systems. However I believe the pros greatly outnumber the cons, hence the popularity cryptocurrency has gained over the past decade.