I was recently doing research about the world's fastest cars. Wow!, I must say the automobile industry is undergoing rapid innovation. We can't just doubt that speed is fascinating and we have seen this unending competition going on in the automobile industry. Top notch companies want to be that record holder and to be a sure contender you'll definitely need a huge and powerful engine to push speed beyond the usual mph(meters per hour). Although several other factors are always in the process put into huge consideration, ranging from the lightness of the car, its electric motors and tyres. When all this ismet we always hear about cars with amazing horsepower.
Picking one to expatiate is the Bugatti Chiron supersport 300+ with assumed top speed of 304mph all thanks to an 8.0-litre quad turbocharged 1,600hp mega machine which just as the car's name simply states will go over 300mph. Incredible is the right word to use here, there are also several cars you could check out for in this categories and you will still be astounded by what the automobile industry has to offer.
Does this really Matter?
Which human would buy a car to drive it at over 300mph(miles per hour)? Absolutely none. Life is very important isn't it. I just checked the speed limit of cars in my country and I found it at 45 to 100km/hr at maximum. Note it was in Km/hr(kilometers per hour). It is proven that 1 mile equals 1.6 kilometer, driving the Bugatti Chiron at 304mph implies the speed of 486.4km/hr. You don't need the government laws or rules to know you may die soon at such speed.
In the United States, I also figured out that their highest speed limit is between 70-80mph( 112-128km/hr). So the question here is, what happens to the rest of the horses, when looking at a 1,600 Horsepower engine. They are put to sleep. The truth is, the moment that car is purchased by an individual from a car stand or company, the horsepower goes to sleep forever, 1,600 horsepower wasted. I've been trying to compare what happens in the automobile industry with the cryptocurrency industry. When talking about the speed and innovation that centers blockchain technology.
Is speed and Blockchain innovation a waste?
It is a question that is worth asked over and over again. Just as in the automobile industries where cars are hyped and sold at a high price because of the speed and innovative horsepower technology, yet to be never used to its full potential. We have seen transactions move in three seconds in the cryptocurrency industry, we have seen innovative technology like decentralized applications (dapps), decentralized finance (defi), gaming and social-fi and many others thanks to blockchain technology.
Has it been used to its full potential? Will it ever be used to its full potential? If yes where is the proof, if no why? Or are we saying cryptocurrency and blockchain is a hyped technology? Since the inception of bitcoin we have also seen altcoins flooding the cryptocurrency industry bitcoin was first praised for speed and borderless transactions until the altcoin market built something more efficient. We have seen some transaction delays in bitcoin although it still remains borderless. That said, let move to see some reasons why we may be wasting innovation in the cryptoverse.
Price and hypes just like the automobile industry
Why is almost everyone in the cryptocurrency industry after price. Every project that lands, the thing that seems to interest people is what it will be worth(in price) in a few years. People purchase coins and claim airdrops with the belief it would be worth a substantial price and then forget entirely about the innovations at which it was built upon. When talking of borderless transactions, have we been able to take full advantage of what opportunity has been presented at our table?
The fact that you could crowdfund a project or business without undergoing the hassle of how to get access to the proposed funds. Adding to that, this is even done in a decentralized system which cuts off all middlemen and unnecessary banking delays. Defi if fully leverage can generate streams of income yet we are more focused on market price. If all cryptocurrencies were to be worth at most $1 dollar, would we say blockchain tech and cryptocurrencies are failed projects?
I personally feel we are yet to realize the full potential of this innovative technology. We are just most concerned about price. I see a lot of horsepowers in the cryptoverse still sleeping because our eyes are off its full potential. Market hypes are here and there, just wrote a recent article on this crypto market hypes are out early, your comments are welcomed. All I am saying is that a lot of crypto enthusiasts are missing the point in terms of the power in decentralization offered by blockchain tech.
We need to take this project to its full horsepower, opportunities are dying right in our very hands. We are seeing bitcoin becoming very far from medium investors anytime from now because all what we saw was market price. altcoin industries are developing problem solving tokens and coins that are backed by innovative tech yet all we always get to do is buy, hold and sell when the price seems matured and before you know, the vision of the projects goes to bed.
To conclude, let me add, there is still a lot I could day here, I guess we should just digest this for now. Supercars with horsepower that will never be used to me is a waste of technology. It's a hype and hypes tend not to last, why train sleeping horses, we know what they were used for in ancient times. This also applied to the cryptocurrency industry, there are lots of innovative technology that backs this industry, yet very little has been leveraged. Focus or should I say a distraction has shifted crypto enthusiasts to pursue market prices and hypes and have forgotten the power and the technological horses which are left to sleep waiting to be charged. I only wish we wake them soon.
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