The project was launched in 2015. It has been praised for being the best-known, most open-ended, decentralized software platform.

Joey Krug, Pantera Capital’s co-Chief Investment Officer, has predicted that Ethereum will play a central role in global finance in the next decade.

Krug points out that Ethereum was not initially created solely for the processing of transactions. However, Ethereum has been steadily improving its network until it is now a hub of financial services. This niche, called Decentralized Finance, is the driving force behind Ethereum.

The co-Chief investment officer of the hedge fund, believes decentralized finance is the key to financial development and investment in the future.

Joey Krug explained, “if you roll the clock forward 10 to 20 years, a very sizable percent, maybe even north of 50%, of the world’s financial transactions in some way, shape or form will touch Ethereum.”

Despite Ethereum being one of the least scalable blockchain networks (having to rely on layer-2 solutions like Polygon), Krug does not think any competing network would be a major threat to Ethereum’s dominance.

Flipside

• JP Morgan, an investment bank, has stated that the opposite is true. Ethereum’s DeFi dominance could be lost to the upcoming chains

The key to Ethereum’s reign lies in solving its scalability crises. Developers are working hard to bring down the gas prices and scalability of Etheruem as it moves closer to the ETH 2 (its transition from proof-of-stake to Ethereum).

Why you should care

It is important to get Ethereum 2.0 right in order for it to be a dominant cryptoverse player.

EMAIL NEWSLETTER

Get the other side of crypto!

Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.

[contact-form-7]
With just one click, you can unsubscribe at any time.

Continue reading on DailyCoin