Erik Voorhees, CEO of ShapeShift, spoke about Ethereum 2.0, Vitalik Buterin’s influence over the Ethereum ecosystem and the real-life adoption of Ethereum and cryptocurrencies, in an interview with CNBC Crypto Trader.
The CEO started off by speaking about the scaling problems of Ethereum and the time taken to deliver what was promised by the Foundation.
During the DevCon4, Vitalik Buterin, the co-founder of Ethereum, unraveled more information about Ethereum 2.0. Buterin stated that Ethererum 2.0 will have Proof of Stake [PoS], Scalability [sharding], VM improvements [EWASM], improvements to cross-contact logic and protocol economics. With these implementations, the network will be 1000x more scalable and increase the transactions to 14,000 per second.
“Yeah, I mean it’ll either happen or people will move to other blockchains and other cryptos and that’s fine too. I mean this is a hyper-competitive industry where people are building the future of finance and there’s plenty of incentive in all directions.”
He further stated that Ethereum will be one of the main chains as it has the network effect and more developers than any other projects in the world.
Voorhees also spoke about whether the whole of the Ethereum ecosystem is centralized around Buterin. He stated that Buterin is “obviously” a point of centralization. He further added:
“But if Vitalik got hit by a bus and disappeared, would Ethereum go away? No, I mean it would get cut in half in price for a month or so but Vitalik doesn’t run Ethereum, he doesn’t control it. He’s just a major influence and he’s a brilliant person. So, Ethereum is better because he’s involved.”
The CEO of ShapeShift also gave his opinion on how long it would take to witness the real-life adoption of cryptocurrencies. Voorhees stated that adoption does not happen instantly. He went on to compare it to the adoption of the Internet, wherein it took a long time for people to accept the revolution. Voorhees added that adoption happens in over two decades.
Nonetheless, Voorhees stated the game assets non-fungible tokens on Ethereum platform will be one of the early things that will get mainstream adoption. He said:
“These tokens that basically represent game assets are going to be really popular. I think cryptokitties kicked off a huge trend and that’s gonna bring a lot of people that don’t care all about the crypto-side into crypto.”
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