Is crypto a good alternative to fiat currency?

Could you elaborate on whether cryptocurrency serves as a viable alternative to traditional fiat currency? Many proponents argue that crypto offers decentralized control, enhanced security through cryptography, and the potential for faster transactions. However, critics counter that its volatility, lack of regulation, and limited adoption hinder its widespread use as a primary currency. What factors should one consider in assessing this debate? Does the technology underlying crypto, such as blockchain, provide any inherent advantages over traditional banking systems? And ultimately, how do the risks and rewards of investing in crypto compare to those of fiat currencies?