• Future of Finance: 53% of Americans believe cryptocurrency is the way to go

  • Future of finance: Crypto is likely to rise, propelled by the fervor of young adults. However, the blockchain’s bandwidth is already at capacity. The poll results call into question whether present offers can keep up with demand.

    Finance’s Future: More than half of Americans believe cryptocurrency is the future of finance. According to a new poll done by OnePoll on behalf of StarkWare.

    This was the view of the future held by 53% of those polled. The 25-34 age group, on the other hand, was quite convinced, with 68 percent. Sixty-one percent of people aged 35 to 44 believed in God.

    17% of those polled claimed they have invested in cryptocurrency. The proportion climbs to 28% among people aged 25 to 34.

    Finance’s Future: Constant Checking

    Those who have invested in cryptocurrency must regularly monitor and manage their assets. 82 percent of people have at least one cryptocurrency tracker on their phone. Half of those polled claim they tinker with their investments on a daily basis. 27 percent of cryptocurrency investors do so multiple times per day. 14 percent of those polled with active crypto holdings are feeling the chill. They waited a week before making any modifications.

    StarkWare Industries, which commissioned the research, is co-founded by Eli Ben-Sasson. “This survey demonstrates how prevalent cryptocurrency has become while also predicting how massive it will become in the near future.” We find that young Americans, people who will eventually shape the economy, are particularly interested in cryptocurrency. It’s a significant insight that they are investing in large numbers and are overwhelmingly confident that cryptocurrency is the future.”

    The survey was commissioned by StarkWare to highlight the debut of the new StarkNet platform. They claim it intends to make it simple and inexpensive for developers to create blockchain apps. “It is a critical necessity for making crypto part of the general public’s everyday existence.” Until date, the rollout of crypto apps has been delayed due to a deterrent caused by a blockchain bandwidth shortage.”

    The blockchain and the future of finance

    StarkWare’s CEO is Uri Kolodny. “As we launch StarkNet, we wanted to do public opinion research to get a feel of how much the general public expected to use cryptocurrency in the next years.” The results are both exciting and worrisome. They emphasize the enormous enthusiasm for cryptocurrency and demonstrate how blockchain is buckling under the weight of current usage. Blockchain will just be unable to meet rising demand until we begin to work smarter.”

    According to the business, StarkNet is a platform for developers to create crypto apps that is entirely decentralized.

    “StarkNet employs a sophisticated math-based compression method that allows apps to be fully secured by the Ethereum blockchain while only a portion of their data is uploaded to the chain.” It is referred to as a Layer 2 in blockchain lingo. Transaction costs, which climb according to a supply-and-demand formula as blockchain adoption grows, are drastically lowered. These fees have hampered the development of crypto apps for a wide range of common applications.”

    Kolodny believes that cryptocurrency apps will eventually be as common as smartphone apps.

    Environmental credentials

    In terms of long-term sustainability, the poll revealed that environmental concerns are widespread. Reduced carbon footprint of cryptocurrency is essential to 34% of respondents. The figures are 49 percent and 39 percent in the 25 to 34 and 35 to 44 age categories, respectively.

    In terms of NFTs, 38% of respondents said they would be “eager” to use them… If they were long-term. The idea of long-term NFTs piqued the interest of 52% of respondents aged 35 to 44.

    “We expected to detect anxiety about crypto’s carbon footprint per transaction, and eagerness for lowering it – but not to the gigantic amounts we discovered,” Kolodny says. We were pleasantly impressed that people appear to comprehend crypto’s environmental challenge.”

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