Definition:
Mass adoption is defined as an event where cryptocurrencies are accepted and used by the public on a large scale. It involves the use and acceptance of cryptocurrencies as a common and regular payment method in various outlets, such as stores, online shopping websites, hotels, etc. Mass adoption is one of the primary objectives of many blockchain and cryptocurrency organizations.
Explanation:
Mass adoption is a relative term since there is no quantity attached to its meaning. In other words, it is not clear how many stores or persons need to accept cryptocurrency before it is deemed to be adopted by the masses.
This event is one of the major challenges of many cryptocurrency projects. Currently, the technology and complexity of some projects are viewed as a roadblock in getting the public on board with blockchain technology. There are, however, some companies and organizations working on products that are more intuitive easily accessible.
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