A recent survey has revealed that about 60% of cryptocurrency investors in the US admit they do not understand blockchain technology. This finding comes from a survey conducted by Preply, a language-learning company, which questioned 1,001 US residents about their knowledge, interest, and experience with cryptocurrencies.

The survey highlights that a significant portion of investors—three out of five—are unclear about blockchain, the foundational technology behind cryptocurrencies. Blockchain is a type of distributed ledger technology that is maintained by a network of computers, or nodes, working together.

Furthermore, the survey indicated that 35% of the respondents who have invested in cryptocurrencies lack confidence in their understanding of the subject. This suggests a considerable knowledge gap among many investors.

The study also examined the Google search volume for 29 cryptocurrency-related terms over the past year across all 50 states and the 181 largest cities in the US. It found that the most frequently searched terms were DAO (Decentralized Autonomous Organization), DEX (Decentralized Exchange), and ICO (Initial Coin Offering). Interestingly, there appears to be greater interest in these crypto acronyms and abbreviations than in their full forms or other related phrases.

Among the states, Florida, Washington, and California topped the list for the highest number of searches for cryptocurrency-related words and phrases. This indicates a regional variation in the level of interest and curiosity about cryptocurrency terminology.

Additionally, the survey found that among those who have not yet invested in cryptocurrencies, 54% expressed an interest in learning more about the subject. This shows a potential for growth in the number of future cryptocurrency investors as people seek to educate themselves more about the technology and its applications.

In summary, the survey by Preply reveals a significant lack of understanding of blockchain technology among current cryptocurrency investors in the US. Despite this, there is a strong interest in learning more about cryptocurrencies, particularly in specific states. The data suggests that as people become more knowledgeable, the number of investors might increase, provided they gain confidence in their understanding of the technology.