As far as adoption is concerned, Bitcoin had approximately the same number of users as the Internet in It is projected that in the next four years, Bitcoin will have around 1 billion users. While many cryptocurrency project may reach the second part of the S curve and plateau, it is unlikely that blockchain technology as a whole will slow down its growth rate anytime soon.
The number of new addresses joining the Bitcoin and Ethereum network shows how fast cryptocurrency is reaching mass adoption. If you know what you are doing, there is no reason to be afraid. To put it different: If you are afraid, chances are you do not know what you are doing and it is better to get out. Chain Debrief June 23, In this article:. Image Credit: visbitcoin. Explore Other Content. March 7, Breakthrough technologies often follow an Adoption S-Curve.
This Adoption S-Curve reflects the cumulative rate at which a population adopts a new technology or product. Bitcoin adoption continues at a rapid pace with strong wallet growth and new use cases relating to commerce like the Lightning Network. Innovators and early adopters are exploring emergent use cases and building a cultural network.
Not only are NFTs earlier along in the adoption curve, but the slope is steeper. In other words, NFT adoption is occurring faster than Bitcoin adoption. Life is not linear. Technology adoption and advancements are accelerating. We can look at consumer electronics adoption curves from the 20th century as an example of this phenomenon. Check out the chart below of technology adoption from to the present. The slopes steepen as we move through time. Now check out the tremendous explosion of NFT trading volume in
An adoption curve, or an S curve, is made up of five different segments of adopters based on their ability to “adopt” new products and. The adoption curve of crypto is believed to be in its early stages, and Wells Fargo data shows its close similarities with the early stages of internet. Crypto based digital assets may represent an altogether new asset class, On a technological adoption curve, we may plot crypto now vs.