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'Within ten years, half of financial transactions will take place on Ethereum'

'Within ten years, half of financial transactions will take place on Ethereum'

January 11, 2022

According to Joey Krug of the well-known crypto hedge fund Pantera Capital, Ethereum will be integrated into the financial world.

Krug gave an interview to Bloomberg in which he talks about the technical possibilities of Ethereum. This blockchain is in full development and the upgrade to Ethereum 2.0 will continue this year.

ETH 2.0

It is currently estimated that the Ethereum Mainchain will have merged with the new Beacon chain by the middle of this year, making the entire network transition to a Proof-of-Stake consensus protocol. In 2023, the shard chains would be launched, allowing Ethereum to process up to 100,000 transactions per second. The implementation of ETH 2.0 has often been delayed and the roadmap has been changed regularly, but in 2022 considerable work will continue on the rollout of this major upgrade.

The World Computer

Due to the upgrades to the Ethereum network, Joey Krug believes that within ten years the financial sector will make extensive use of Ethereum. There are already examples of 'tokenized securities', for example bonds on the Ethereum blockchain have already been issued.

According to Krug, Ethereum will continue to dominate the blockchain world in the coming years. Currently, ETH is the second largest cryptocurrency after bitcoin. The Ethereum network is currently often faced with an influx of transactions and high gas fees, due to the popularity of NFTs and DeFi. Especially the development of these decentralized finance applications will put Ethereum in the spotlight of the traditional financial industry, which will ultimately lead to more adoption. In this way, Ethereum can become the 'World Computer' envisioned by founder Vitalik Buterin.


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