If some of you do not know what the term blackhole means, let me explain in brief that it is an occurrence in the galaxy that has intense gravity that pulls in any object surrounding it. The curiosity is why then compare crypto universe is being compared to it. Let's just say the attention that the universe has received in the last eighteen months has pulled in many people that were unaware or skeptical about it.
The last year has seen a doubling of crypto wallets and the introduction of NFT has resulted in an explosion of the adaptation. This has resulted in governments worldwide creating legislation relating to this universe.
It is important to be aware of the darkness that the universe has before it is welcomed in many forms. Let us first discuss the basics of it, as per the system it is based on the majority of ownership has to be a decentralised but as high concentration of holdings the main motive gets defeated.
Another issue is the mining of such tokens that require a massive amount of energy to run the hardware. Even as it copes up, there are massive shortages of GPU ( Graphics Processing Unit) that have resulted in a sold price of $2400 for a unit retail price at $700.
Though not last the stable coin is becoming the major risk of the financial system. In its current form, UST (USD Tether) is the most famous resulting in major flows via it and some reports do mention that China has been able to use this route to launder money and introduce risk to other parts of the world.
These are highlights of the blackhole present in this universe and as we move to a larger phenomenon about it closer we move to the first crisis it would be presented with.
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