The Ethereum system has every chance of becoming an integral part of the global financial market, said Joey Krug of Pantera Capital, one of the largest cryptocurrency hedge funds.
” If we go forward 10-20 years, a very significant percentage, perhaps even over 50%, of global financial transactions will be affected in some way Ethereum.“, He told Bloomberg.
Ethereum, the second most popular cryptocurrency after bitcoin, had a positive year growing by almost 400% and reaching an all-time high in 2021.
At the same time, gas costs have also reached new heights. Because of this, coupled with insufficient speed to keep up with the flow of activity thanks to the increase in non-interchangeable signals (NFT) and decentralized finance (DeFi) projects, new projects are booming in leveraging their technology solutions. and Ethereum. blockchain and increased DeFi dominance of the system from almost 100% in early 2021 to 70% today.
In this regard, Joey Krug doubts that these contestants can take the lead from the platform, noting “there are too many compromises than each other [blockchains] do and do not Ethereum in the field of decentralization“.
” I do not know whether they are in the best position to be on the next global financial tier“, He stressed the fund manager of $ 5.8 billion.
When Ethereum launches its plans to move to proof – a transaction validation method that is considered more efficient and less energy intensive than work proof – competitors will not hesitate to develop their own projects based on Ethereum, which Joey Krug explains. , reviving all of Ethereum’s interest against its current rivals.