As 5G mobile Internet rolls out for the masses, this new technology has the potential to change ordinary life in manifold ways. According to leading technology experts, 5G should transform the way billions of people live, work and spend.
4G: An Obsolete Network Ready For Retirement
Today, 4G is the dominant mobile Internet network in most regions. This aging network was designed primarily for phone calls and SMS texting. The network is also usable for basic Internet tasks like checking email or reading news sites. When one engages in more bandwidth-heavy tasks, the limitations of 4G quickly assert themselves.
What Makes 5G So Vital
In a nutshell, 5G will allow exponentially more people to have super-fast, reliable Internet.
Unlike 4G, 5G was designed with an eye to facilitate gaming, HD video streaming and other data-intensive Internet activities. Reportedly, 5G will have speeds up to 20 times faster than your average modern WiFi connection. As it transforms every part of the digital economy, 5G adoption should prove a boon for crypto companies and investors alike.
Why 5G Is Good For Cryptocurrency Adoption
5G will drive adoption of cryptocurrency in several different ways. Firstly, 5G will bolster the long-standing trend towards mobile digital life. As PC and laptop sales continue to sag, more and more people are accessing the Internet solely through mobile devices.
The new breed of 5G Internet user will be more comfortable with cutting-edge digital processes. People who entered adulthood this century are already more open to transformative digital assets like Bitcoin. Over the course of the next decade, this demographic group will help ensure that cryptocurrency’s growth will remain steady.
Arguably, 5G should go a long way towards simplifying crypto use for the new adopters. For one thing, 5G speeds should make cryptocurrency exchange wallets, like OKEx, easier to view and use. Potentially, 5G can also make it easier for thousands of users to pool their computing resources to mine crypto coins.
5G, Financial Infrastructure and Currency Innovation
Looking further afield, 5G will surely facilitate new types of digital financial infrastructure. Using 5G, startups will be empowered to build blockchain-powered banking and verification networks. Today, cryptocurrencies like Ether serve as assets and as exchangeable units of CPU bandwidth.
Moving forward, 5G should enable many new types innovative currencies. It’s impossible to predict exactly what kinds of innovation 5G will inspire in developers. Besides spurring new currency development, 5G may speed up transaction times for current currencies. This should prove particular useful for people who regularly use crypto for commercial transactions. Faster transactions will increase the versatility of legacy cryptocurrencies like Bitcoin.
How 5G Will Help Crypto Grow Globally
Naturally, widespread 5G adoption will first arrive in developed areas with existing technology infrastructure. Capital cities and metropolitan areas are typically first in line for this type of infrastructure upgrade. In time, however, 5G coverage will spread to every part of the globe. The powerful economic effects of high-speed Internet will ensure to that. Over the next few years, 5G adoption may open up crypto to populations of people who have previously felt left excluded from emerging technologies.