Why You Need to Understand Layer 1 Protocols

It appears regulators don’t care about the functionality or reliability of blockchains, especially as some of the loudest opponents of crypto are in favor of central bank digital currencies – a type of digital currency issued by a central bank. The animosity feels more related to the decentralized nature of crypto – the ability to take fiat currency and exchange it for another asset of value, without the need for a central body (central banks, regulators, politicians, conventional banks, etc.).

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