Pantera Capital’s Projects Ethereum Facilitating 50% of All Global Transactions in Ten Years
Since launched in 2015, the project has established a reputation for itself as the most well-established, 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.
Despite not originally being created exclusively for processing transactions, Krug notes that Ethereum has steadily improved its network to the extent of becoming a hub for financial services, which is led by the pioneering niche of decentralized finance, or DeFi.
With the growth of DeFi protocols, the co-Chief Investment Officer of the hedge fund believes that decentralized finance will become the linchpin of investment and financial development 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.
On The Flipside
- The investment bank, JP Morgan has noted the contrary, explaining that Ethereum could lose its DeFi dominance to upcoming chains
The key to Ethereum’s reign lies in solving its scalability crises. With Etheruem drawing closer to the ETH 2 (its transition to proof-of-stake), developers are working to put high gas fees and a lack of scalability behind the network.
Why You Should Care
With grande predictions for the future of Ethereum, getting Ethereum 2.0 right would be significant in establishing its dominance in the cryptoverse.
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