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Landscape
The cryptocurrency landscape is incredibly fractured and complex. The unfettered growth of the blockchain world mentioned previously does have a significant downside. Lacking any kind of coordinated oversight, thousands of competing tokens, decentralized products, chains, and exchanges have all evolved to provide different benefits but with their own quirks and varying degrees of interoperability. This presents two significant barriers to entry into the crypto space.
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The cryptocurrency learning curve is too steep.
Firstly, in terms of mass adoption, the initial learning curve is steep and fraught with not only complexities but the frequent threat of unrecoverable financial loss through user error. For example, purchasing and staking a DeFi token might involve the following steps:
1. Search which exchange(s) the token is available on and decide which is the best, easiest, and/or cheapest on which to purchase the token
2. Navigate to a chosen exchange, transfer funds if required to purchase if centralised, and purchase the token
3. Finally navigate to the staking portal and stake the token
Each different token might necessitate a different wallet, exchange, and staking portal, all with varying login requirements, fees, interface designs, and requiring multiple actions across different interfaces. This introduces multiple potential failure points where an incorrect action
from the user could result in financial loss.
Cryptocurrencies are not conducive to traditional or institutional-level participation
Secondly, even the most experienced users can see diminishing returns in managing several different assets across an ever-increasing number of wallets, protocols, and chains, potentially limiting the scope of their involvement and hence growth of the ecosystem as a whole. For more traditional market participants or large institutions, concepts like risk management, asset diversification, and portfolio rebalancing can be difficult to implement due to the lack of a single live portfolio overview. This is especially challenging if a portfolio is spread across a range of crypto assets such as DeFi and NFTs.
Mass adoption remains elusive
It is essential that both of these barriers are removed to facilitate the next wave of growth in the blockchain and cryptocurrency industry. In the first case to onboard the “early majority” or retail users, and in the second case to onboard institutions.
More and more institutions and banks are stepping foot into the cryptocurrency market, and the days when cryptocurrency is mentioned in media and news headlines are becoming more frequent. And yet, mass adoption of cryptocurrency still seems an elusive topic that’s ever so far away. We believe the answer lies in the fact that users are bottlenecked by the jungle of platforms, networks, protocols, wallets, and exchanges.
Retail users are required to spend a significant amount of time understanding technicalities, doing research, and scouting the landscape only to settle on a handful of choices simply because they are not aware of everything that is out there.
The cryptocurrency space is in a desperate need of a new kind of service provider that can bridge the chasm and unify everything in one place. Convenience and ease-of-access are the keys to lowering the barrier for those looking to enter the cryptocurrency world. Here at ARC, we are striving to become the leading platform to simplify and bring it all together while supporting the movement for cryptocurrency mass adoption.
ARC is the answer
ARC is here to change all of this for the better! ARC aims to consolidate the fractured landscape under one roof, bring interoperability to the cryptocurrency industry, and unlock the full potential of blockchain technology and decentralized finance for its users.
*A chart showing the comparative growth of the internet vs the current growth of crypto. It is worth noting that at this stage in 1997 it wasn’t clear what impact, if any, the internet would have on the world.
Last modified 1mo ago
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