Coinbase CEO Brian Armstrong published a Medium post on Jan. two sharing his thoughts on how the crypto space has progressed over the final ten years.

Armstrong's mail, inspired past Fred Wilson'due south commodity on technology over the past decade, begins with Bitcoin. Armstrong noted that the leading cryptocurrency hasn't failed once in its nativity ten-yr history. Despite whatever doubt about Bitcoin's survival, Armstrong pointed out that the digital currency has really thrived.

"There were over 379 articles written, prematurely declaring the cease of Bitcoin. Non simply did Bitcoin survive, it thrived, becoming the top performing nugget of the decade. The naysayers were proved wrong and we learned an important lesson virtually human nature: most big breakthroughs are contrarian ideas that people dismiss and ridicule at the offset."

Armstrong also took the opportunity to mention that his cryptocurrency exchange Coinbase has also succeeded over the past decade, despite many thinking it wouldn't. He wrote:

"When I was thinking nigh starting Coinbase, a few people told me I was crazy to endeavor creating a custodial crypto wallet and exchange. The all-time hackers in the world were trying to interruption into crypto exchanges, and Mt. Gox along with many others had suffered breaches. Through a combination of luck and skill, Coinbase managed to conditions the barrage of attacks, and created many novel methods of primal storage which improved with every passing year."

Since Coinbase was founded in 2022, the visitor has grown to operate in over 100 countries worldwide. Coinbase has also created core products to assistance cryptocurrency adoption and ease of use. The company created a Global Digital Asset Exchange (GDAX) for trading a diverseness of cryptocurrencies. Coinbase besides offers an API for developers and merchants to build applications and accept payments in digital currencies.

He pointed out that while technology debates are mutual, there is a strong sense of emotion associated with digital currencies and blockchains. Armstrong wrote:

"I believe what made this more vitriolic than other engineering debates I've seen (emacs vs vim, iOS vs Android, etc) is that once people own a particular coin they have an inherent conflict of involvement and emotions take over."

While this may be the instance, Armstrong pointed out that strong emotions have helped advance the crypto and blockchain space, resulting in more than than just one currency or blockchain taking lead.

He goes into much more detail on his Medium post, merely Armstrong's ten key takeaways are as follows:

  • Bitcoin never failed: Despite the ups and downs, Bitcoin has go the elevation performing digital asset of the decade

  • Coinbase didn't fail: Over the years, Coinbase has fabricated cryptocurrency easier to use and has created a number of core products to assist drive adoption

  • Competition emerged: Equally new cryptocurrencies were created, and blockchain protocol changes emerged, competition in the crypto space increased, which drove innovation

  • Surviving the bubbles and crashes: Even with the bubbles and crashes that followed, the crypto industry advanced, attracting the attention of top-performing investors and companies

  • App adoption took longer than expected: As Dapps started taking off, there was little adoption until the rise of Defi this year

  • The ICO blast and bosom: Many companies that did initial coin offerings failed to evangelize real-globe products, while sitting on piles of cash

  • Exchanges saw most value: Best business organisation models over the final 10 years in crypto were exchanges

  • Stablecoin adoption increased: In order to solve the volatility associated with crypto, stablecoins emerged from companies like Facebook

  • Institutions grew: Crypto started off with retail investor adoption, but many institutions have since come on lath

  • Regulations: Bitcoin started off beingness entirely unregulated – now cryptocurrency is a regulated industry