I see "meme" coins are clogging up Blockchains and rendering them useless, as the hype shows no signs of slowing down. Blockchains like ETH, BTC, and even Polygon/MATIC have seen an increase in network fees. Even Coinbase's ETH L2 network (BASE) have been affected by "meme" coins.
This is frustrating, because there are users who want to use crypto for day-to-day payments. Not for speculating or getting rich quick. Developers are going to need to constantly improve on-chain scalability to keep fees as low as possible. That's without undermining decentralization, of course.
What's your opinion on this? Do you think the "meme" coins craze will move the industry away from being a utilitarian one to a speculative one? Will the hype last forever? Do you think crypto will do fine with "meme" coins in the way?
Your input would be greatly appreciated. Thanks in advance.
This is frustrating, because there are users who want to use crypto for day-to-day payments. Not for speculating or getting rich quick. Developers are going to need to constantly improve on-chain scalability to keep fees as low as possible. That's without undermining decentralization, of course.
What's your opinion on this? Do you think the "meme" coins craze will move the industry away from being a utilitarian one to a speculative one? Will the hype last forever? Do you think crypto will do fine with "meme" coins in the way?
Your input would be greatly appreciated. Thanks in advance.
No I don't think you. The use case of the coin is very important and it's the major factor that plays the most important role in the long term development of the coin. We can see the example of ETH and SOl both are very useful that's why they are performing well over a longer period of time.
Now another side of the picture is that people like to invest in meme coins for large profits and that's something that is hitting me too. Meme coins will continue to come and if this trend continues what will be the future of altcoins. Answering this is quite complicated.