In an interview with Bloomberg, the co-Chief Investment Officer of hedge fund Pantera Capital, Joey Krug, said that Ethereum would be a dominant part of the financial space in the upcoming decade. Krug made a tentative bold prediction, saying that in the next ten years, 50% of global financial transactions might involve Ethereum. He saw an optimistic future for the world’s number one network for smart contracts.
Ethereum has been steadily becoming a hub for financial services.
Joey Krug said, “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.” The blockchain network has been steadily becoming a hub for financial services, led by the pioneering niche of decentralized finance. The latter has become a cornerstone of investment and financial growth, with several novel financial applications paving the way for wealth management and growth.
Ethereum developers look to solve scalability issues.
The leading blockchain network has been subject to several technical obstacles that prevent it from growing even further. The network experienced high gas fees and long transaction times as more and more users got on board. Developers are working on scalability solutions, most notably ETH 2.0. This upgrade is undergoing a phased release that should see completion in 2023. Like those provided by Polygon Network, other solutions are also effective and growing in implementation. There’s little to no doubt that scalability must be tackled for Ethereum to achieve Krug’s bold prediction. Ethereum gas fees continue to be a pain point for many investors.