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What happens when the blockchain of a cryptocurrency collapses?

  • Thread starter Thread starter Good-Person
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Good-Person

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Cryptocurrency is based on blockchains. These blockchains facilitate cryptocurrencies when it comes to transferring cryptocurrencies from one address to another. However, what would happen in case if the blockchain of a cryptocurrency itself collapses? Will the value of the coin drop? Will the cryptocurrencies get froze in wallets?
 
It is likely going to make transactions in those Blockchain not to go through at that moment. It is more like the system is down and those involved in fixing it should work on it tk restore it. I don't think it is going to affect the price of the coin unless some panic sales happens once the problem is fixed.
 
In what condition do you think will blockchain fail? Let me be precise, Ethereum is the most popular blockchain platform. IN what conditions do you think collaspe? Blockchain is a technology, the native token of Ethereum my fail but Ethereum blockchain will continue to operate.
 
I do not know what exactly you mean by collapsing, but I suppose that if it were to occur maybe the value of the crypto will begin to fall due to distrust of investors because they believe that said investment has failed in its fundamentals or for simple fud, but I have not seen any blockchain stop working completely.

something that I can relate to a collapse in a blockchain is the case of Terra Luna and UST, and we already saw what happened with both tokens.
 
Well, there are going to be so many implications that's going to happen when a cryptocurrency blockchain fails. The most common side part of it is that all the financial transactions depending on blockchain technology will be disrupted, and that's going to result to financial losses. Investors will never trust the system again for anyone reason whatsoever.
 
Heatman said:
Well, there are going to be so many implications that's going to happen when a cryptocurrency blockchain fails. The most common side part of it is that all the financial transactions depending on blockchain technology will be disrupted, and that's going to result to financial losses. Investors will never trust the system again for anyone reason whatsoever.
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Investors will definitely lose interest and I think that crash of major cryptocurrencies such as Terra Luna and other coins have also had a major impact on the market sentiments when it comes to bitcoin and other cryptocurrencies.
 
Good-Person said:
Investors will definitely lose interest and I think that crash of major cryptocurrencies such as Terra Luna and other coins have also had a major impact on the market sentiments when it comes to bitcoin and other cryptocurrencies.
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Exactly! I don't believe that there is anyone who is going to be interested when it comes to investing their money in a project that it's very obvious they are most likely going to lose their money. Any kind of blockchain technology that ends up breaking down is always going to chase away every investors that are supposed to invest in it.
 
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