Evolving the Blockchain Blueprint

Getting Crypto Out of the AOL Era: Sandeep Nailwal

As the cryptocurrency market continues to evolve, one major challenge that remains is the lack of mainstream adoption. According to Sandeep Nailwal, the co-founder of Polygon, one of the main reasons for this is the outdated infrastructure that underlies the current cryptocurrency landscape.

Speaking at the recent Blockchain Summit in Miami, Nailwal likened the current state of cryptocurrency to the early days of the internet, when America Online (AOL) was the dominant player. Just as AOL's dial-up connections and clunky interfaces made the internet inaccessible to many, Nailwal believes that the current cryptocurrency infrastructure is similarly limiting its potential.

"The problem is that we're still stuck in the AOL era of cryptocurrency," Nailwal said. "We're still using outdated technology, like blockchain, which is not scalable, not secure, and not user-friendly. We need to upgrade our infrastructure to make cryptocurrency accessible to everyone."

Nailwal pointed out that while blockchain has been hailed as a revolutionary technology, it has its limitations. "Blockchain is great for small-scale, permissioned networks, but it's not suitable for large-scale, permissionless networks that we need for mass adoption," he said.

To address this issue, Nailwal believes that the industry needs to focus on developing more advanced technologies, such as layer 2 scaling solutions and decentralized finance (DeFi) protocols. "We need to build a new infrastructure that is fast, secure, and user-friendly," he said. "We need to make cryptocurrency a part of everyday life, not just something that's accessible to a select few."

Overall, Nailwal's message is clear: it's time for the cryptocurrency industry to move beyond the outdated infrastructure of the past and focus on building a more modern, more inclusive, and more accessible future.