The company even turned off commenting on their announcement, as many users turned angry at the situation.
What will the future look like for Crypto Projects?
It is already known that blockchain projects are still in their “Proof of concept” phase. Every DeFi project slams users with a big disclaimer as soon as they visit their website, saying how risky this venture is. The risk that crypto enthusiasts take is not only the volatility of cryptos but also the hacks that the systems might endure.
Nothing is perfect from day 1. Everything needs constant fixing and enhancement. This is a big part of why blockchain tech did not strive. When this happens, the cryptocurrency market will definitely reach new heights in terms of market cap, users and business adoption, and ease of use among regular people.
Will a Crypto Crash happen soon because of this Hack?
It is unlikely to see a major crash following this hack. Back in the days, Mt. Gox exchange hack did indeed crash the crypto market, bringing Bitcoin prices from a high of $1,000 to a low of $200. But many other factors came into play other than this simple hack, such as that the market back in 2013 was overbought, an adjustment was needed, and the fact that this exchange handled more than 70% of Bitcoin transactions. Also, the crypto market was still in its infancy stage, and any event would’ve affected prices.
On the other hand today, the crypto market matured much more than before, especially with the increasing institutional adoption. People are aware that a hack on a certain blockchain should not mean that blockchain tech does not work. We expect prices to fall over the short-term, especially after a previous bull week as part of a heavy adjustment. For the medium/long term, prices should recover soon after.
Der Twitternutzer Hodlonaut zählt die wichtigen Einheiten und Zahlen des Bitcoin-Ökosystems auf.
- Anzahl aller am Ende geminten Bitcoins 21 Mio.
- Unterteilungen von Bitcoin. 100 Mio. Satoshi = 1 Bitcoin.
- Alle 210.000 Blöcke wird die Blockbelohnung halbiert.
- Alle 2016 Blöcke wird die Schwierigkeit (Difficulty) angepasst.
- Die Sollblockzeit von Bitcoin. Alle 10 Minuten soll durchschnittlich ein Block entstehen.
