According to Pantera Capital’s Joey Krug, other networks are unlikely to threaten Ethereum. He expects that in the next 10 years, Ethereum will account for half of all global financial transactions. Ethereum still has to finish its ETH 2.0 update, which will help it on its way to become a worldwide platform.
Joey Krug, co-Chief Investment Officer of Pantera Capital, believes that Ethereum will play a critical role in global finance over the next ten years. Krug made the remarks in a Bloomberg interview.
In an interview with Bloomberg, Joey Krug, co-Chief Investment Officer of hedge fund Pantera Capital, stated that Ethereum would be a major component of the financial industry in the future decade. Krug made a big statement, predicting that the world’s leading smart contract network will be used in 50% of global financial transactions within the next ten years.
He predicted a bright future for the world’s leading smart contract network. Krug believes that alternative networks will not pose a significant challenge to the platform’s supremacy.
“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 world’s leading smart contract network has begun to grow into a financial services center, headed by the pioneering niche of decentralized finance (DeFi). With various unique financial apps paving the road for wealth management and growth, it has become a cornerstone of investment and financial progress.
However, the platform has encountered a number of technological challenges that have stymied its growth. As additional users joined the network, the network encountered high gas prices and slow transaction delays on occasion.
Scalability solutions, most notably ETH 2.0, are being worked on by developers. This renovation is being phased in and is expected to be completed in 2023. Other alternatives, such as those given by Polygon Network, are equally successful and gaining popularity.
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