SURVEY: Technical Complexity Remains a Major Barrier to Mass Adoption of Cryptocurrencies

Despite the growing popularity of cryptocurrencies and blockchain, the complexity of its technology may make it difficult for the average user to understand, preventing more people from entering the field, Cointelegraph reported.

According to a survey conducted by Australian cryptocurrency exchange Swyftx in August, 43 percent of 2,229 respondents said they had not used the technology because they were unsure how it worked. Industry experts generally agree that the industry should work to simplify educational resources and user interfaces to appeal to more casual users. In addition to technical complexity, factors such as security of asset storage and regulatory uncertainty pose barriers to popularization.

Experts suggest that the crypto industry should strive to make the technology easier to understand and use while maintaining its innovative nature, such as simplifying complex concepts, providing user-friendly interfaces and comprehensive educational resources.