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Cryptocurrency is actually terrible for battling inflation, data shows

Monday, September 10, 2018 by Piyush Suthar | Comments

Home News Tech Cryptocurrency is actually terrible for battling inflation, data shows

Cryptocurrency is often floated as a failsafe for floundering economies. When faced with economic instability, blockchain evangelists are often quick to prescribe Bitcoin (or some other altcoin) as a means of alleviating hyperinflation by being more stable than the local currency. But which is best suited for the task? Turns out, it’s none of them. According to data from blockchain research unit Diar, no cryptocurrency wields the power to pull nations out of financial turmoil. Indeed, most coins – even established ones like DASH and Litecoin – suffer from arbitrary supply inflation or massive degradation in purchasing power. This means that…

This story continues at The Next Web

Authored by Piyush Suthar
Pro Blogger


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