BIS says big cryptocurrencies are more likely to suffer a breakdown in trust, efficiency

BIS says big cryptocurrencies are more likely to suffer a breakdown in trust, efficiency

18 June 2018, 07:24
Matthew Todorovski
0
354

The Bank of International Settlements (BIS) sounding an alarm and Bitcoin and other of the large cryptos

The bank says networks are prone to congestion, making them more fragile and "trust can evaporate at any time"
  • trust can disappear instantly because of the fragility of the decentralised networks on which cryptocurrencies depend
  • networks are prone to congestion the bigger they become
"Not only does this call into question the finality of individual payments, it also means that a cryptocurrency can simply stop functioning, resulting in a complete loss of value."


bitcoin-chart

Share it with friends: