Cryptocurrency's Volatility Challenge

Developments in the cryptocurrency space are still at their infancy, and there are many fault lines in the current design. In its successful bid to rid the world of any centralized monetary authority, cryptocurrencies’ default template elected to implement deterministic inelastic supply, invariably creating its own Achilles heel in the form of volatility and instability. Imagine taking out a loan in Bitcoin or earning salaries in Ethereum? The inability of cryptocurrencies to function as a unit of account with preserved purchasing power, meant the abdication of any possibility of being accepted as a true medium of exchange. Not much was learnt by the cryptocurrency world from the evolution of monetary policy.