The cryptocurrency market, now consisting of thousands of different digital coins, has expanded exponentially since the advent of Bitcoin in 2009. Each cryptocurrency is designed with specific purposes. From Bitcoin, which is used as digital gold and for payments, to Tether, a stablecoin pegged to the USD for stability, and Ethereum, which supports smart contracts and decentralized applications, cryptocurrencies offer a range of functionalities. Without widespread adoption or daily acceptance for practical use, limitations for everyday use may present barriers of practical application.
Bitcoin, which debuted in 2009, has a hard supply limit of 21 million. As a result, it is not primarily used as digital gold and for payments. Tether, which started out in 2014, is a so-called stablecoin, pegged to the USD to help keep its value stable.
Ethereum, launched in 2015, is a decentralized blockchain network that supports smart contracts and decentralized applications. Launched in 2017, Cardano is another blockchain platform for decentralized applications that operates on a Proof-of-Stake consensus mechanism.
NFT Assets like those found in Decentaland are unique assets used in game. Axie Infinity, a Play-to-Earn game Players earn crypto for completing game objectives in Axie Infinity, one of the most popular Play-to-Earn games.
