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What are the five must-haves for Blockchain going mainstream?

I have done some deep thinking over the last couple of years about what is needed to take Blockchain mainstream. Below is a simple compiled list of areas that must be handled before we see mainstream adoption.

The five S’s

  • Speed
  • Stability
  • Security
  • Scalability
  • Simplicity

We can see that some of the items have already been solved. For example, EOS has half second block times and using the Demux pattern the potential for really fast blockchain based apps is here. There are still times when the network slows down a bit but it is getting much better.

Stability has much improved with outages and network issues starting to fade out of memory. Only proper processes and management at the producer or network level can help ensure this. It is encouraging to see so much communication and sharing of networking level best practices.

Security is a challenge. Earlier this year two guys from my team made Patroneos and it was a great step forward. The technology will improve and as hardware keys and wallets becoming more and more prevalent we will start signing with hardware on our computers and phones without knowing it in the future.

Scalability is not a huge issue yet because there are very few killer apps yet on the blockchain. We will focus on why I believe this to be the case in the next point. By the time we have maxed out the current scaling solutions I believe we will have developed inter-blockchain communication and other horizontal scalability solutions. Many businesses will use private blockchains to help comply with legal auditing and increase cybersecurity.

Simplicity of design and proper user experience on the front-end will lead to more high use apps in the future if this is made a priority. Right now a toxic cocktail of both technical learning curve and really afterthought product design have turned off many would-be users. This is a similar replaying of historical events as we saw at the dawn of the internet. The design landscape was horrible then too. This was because so much emphasis was being placed on getting the tech to work. What the project looked like was a lower priority.

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