Vitalik Buterin questions growth potential for Blockchain & Crypto
Cryptocurrency has its fair share of conflicting opinions, some optimists believe that this new asset class will sweep the world in a few years, while pessimists on the The other side of the coin hates this newfangled technology with a burning passion.
But due to the shock of many, Vitalik Buterin, one of the most important co-founders of the Ethereum project, recently spoke with Bloomberg to question and outline potential future growth for this changing industry. Speaking with the publication of a conference on Ethereum and blockchain in Hong Kong, Buterin, who somehow became the subject of controversy, noted:
The blockchain space is coming to the point where there is a ceiling in view. If you talk to the average educated person at this point, they probably have heard of blockchain at least once. There is more an opportunity for the further growth of 1,000 times of anything in space.
The bearish (ish) feeling of such an influential figure (co-founder of Ethereum) worried a little, but if you think about it, unfortunately it could have a little sense. Logically speaking and "moonlighting" out of the window, the cryptocurrency market has already had the parable of its life, with some coins that have easily grown more than 1,000 times in the span of a few years, including Bitcoin. And yes, most people in developed countries have probably heard or used the term "blockchain" or "cryptocurrency" at some point or another, making it unthinking to think that opponents would turn into a dime to accept this industry to open arms.
What makes the most sense is a long-term growth plan that encourages the constant inflow of the use and adoption of the real world, compared to a short-term parabolic cycle that attracts price speculators, which is obviously harmful to the industry. Supporting his statement, Buterin added: "This strategy (worldwide marketing and adoption) is approaching a deadlock."
So, if old strategies will not work, what are the prospects? You could ask
Well, as Buterin later added, the next step will be to convince people who already have an interest in cryptography to be really involved in a significant issue, whether that happens through use. of DApp, smart contracts or something as simple as downloading a wallet and buying cryptographic resources. Closing the interview, the co-founder of Ethereum said: "Switch from people interested in the real applications of real economic activity".
Vitalik: "Every blockchain of today's day sucks", including Ethereum
However, there seems to be some factors that hold back the arrival of new users, as mentioned in a surprising tweet, but perspicacious, of the same Vitalik.
I think I was quite consistent with my point of view on the fact that (i) all of our existing blockchain, including ETH and BTC, sucks and (ii) PoS is necessary. I do not know why anyone surprised me.
– Vitalik Non-giver of Ether (@VitalikButerin) 4 September 2018
As reported by Ethereum World News earlier, responding to Jameson Lopp, a well-known Bitcoin veteran and developer, Vitalik , wrote:
I think I was fairly consistent on my opinion that (i) any current blockchain, including ETH and BTC, sucks and (ii) PoS is necessary. I'm not sure why anyone surprised me.
The Canadian-Russian programmer is likely to refer to the inefficiencies of current blockchain protocols and systems, which are likely to limit adoption worldwide, or at least for now. But with the planned arrival of Casper for Ethereum, along with other improvement protocols through the world's public blockchains, it is likely that as time passes and technology develops, blockchains reach a point where they can replicate the speeds produced by classic computer systems.
Well, this is still hope.
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