Cryptocurrency gained traction at the end of 2017, where a bull run had occurred, propelling Bitcoin (BTC) to twenty thousand U.S. dollars. Suddenly, BTC began its decline, along with the rest of the cryptocurrency market.
The sudden decline outlined the need to differentiate currency and blockchain, which is a prominent issue today. The need for distinguishing cryptocurrencies and blockchain is necessary for determining real-world usage, compared to the unnecessary creation of currencies that serve no practical use.
Most, if not all, of the cryptocurrency projects that we have seen, fail to acquire mass adoption due to the volatility of their currency and the lack of use cases. Many ambitious projects plan on creating their own blockchain, which requires tremendous work and knowledge.
It is questionable if rebuilding all the mechanisms is necessary, as current blockchain platforms already offer what is needed to implement most application needs. It is notorious to see projects, after several years, not have a product. Some will never achieve completion, either because it is too complicated or because they lack the determination. Mass adoption is achievable with applications built on blockchains that yield a better service rather than blockchains constructed from the ground up.
Our focus is to create a platform that will be convenient and useful. It will provide a solution to a wide range of problems by using existing blockchain. She will be used to her fullest potential, and also added upon by building useful applications. Hence, we chose Waves Platform because of the clarity of the code, speed of the transactions, and all the current and upcoming features.