Crypto was meant to revolutionize global finance by simplifying cross-border payments, reducing costs, and eliminating intermediaries. However, the current ecosystem, with over 1,000 blockchain networks and 10,000 cryptocurrencies, has become fragmented and complex, resembling the very system it aimed to disrupt.
Each blockchain operates like a separate entity, complicating transfers and creating barriers for users. The user experience remains convoluted, and the early adopters benefit from keeping protocols exclusive, hindering true decentralization.
The article argues that for crypto to achieve its potential, the focus must shift to building interoperable systems that allow seamless, cross-chain transfers.
Innovations like cross-chain infrastructure and liquidity bridges are emerging, signaling a move toward a more interconnected ecosystem. The future of crypto lies in creating a multi-chain system where value and data flow freely, fulfilling the promise of global, frictionless finance.