HomeCrytpoCryptocurrency Designs: 10 ways most are likely to fail!
April 8, 2019
Cryptocurrency Designs: 10 ways most are likely to fail!
10 Ways Most Cryptocurrency Designs Will Fail
Cryptocurrency designs are not easy to create. I caught up with David Atkinson from Holochain for a 2 part discussion why many cryptocurrency designs are flawed and will likely fail. What we uncovered in our discussion was a huge range of topics which David documented in this image here:
What we learned from our discussion was how many factors play into determining utility vs security of a cryptocurrency design. We also delve into why so many companies misunderstand their own token designs and why their own behaviours are often getting in the way of their primary focus…to run their business.
Too often we have seen that either the cryptocurrency designs are being used for the purpose of just having a coin or are being used in ways that are not legal. Projects make coins that issue dividends or have promises of guaranteed returns. Other projects are so over focused on the coin value that they lose sight of why they have created their project in the first place! So we look at these factors and have a nice intellectual debate on these points. We flush our a lot of details and try to help project understand where they might fail. Our aim is to help people consider their own cryptocurrency designs with the hope that they can make them great and sustainable and compliant as well!
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