HomeCryptoEthereumWithin 10 years 50% of the world's financial transactions could go through...

Within 10 years 50% of the world’s financial transactions could go through Ethereum

One of the most interesting issues for the coming year in crypto certainly has to do with whether or not Ethereum’s blockchain supremacy will be maintained, as it faces increasingly fierce competition and the need to reduce transaction costs.

Financial transactions on Ethereum

According to some experts, the more sustainable and cheaper blockchains such as Solana, Cardano and Avalanche, which saw their prices soar in 2021, could in 2022 even surpass the more expensive and less scalable Ethereum.

But that certainly doesn’t seem to be the view of Joey Krug, co-chief financial officer of Pantera Capital, the first US hedge fund specializing in blockchain and cryptocurrencies, which continues to have full confidence in Ethereum and its predominant role in the field of blockchain networks.

Krug told Bloomberg two days ago:

“There’s too many trade-offs other chains are making that Ethereum is not making on the decentralization side that are pretty important”.

Krug even launches into a prediction that might seem unbelievable, arguing that in one or two decades it’s likely that a large proportion of the world’s financial transactions could go through Ethereum’s blockchain in some way.

“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”.

Ethereum Proof of Stake
The move to Proof-of-Stake should take place in June 2022

Towards Proof of Stake

Krug also spoke about the key role of the blockchain founded by Buterin in the development of DeFi. 

“I believe competitors will eventually rely on Ethereum as a base, assuming that the blockchain successfully switches to proof-of-stake”.

This new update, which should be operational by the second half of the year, could finally solve Ethereum’s many problems related to the high transaction costs of its network, which have forced many DeFi developers and startups to abandon it for the cheaper Solana and Polkadot.

In August, the CEO of the Pantera Capital fund, Dan Morehead, predicted that the next update would probably help Ether overtake Bitcoin and become the world’s largest cryptocurrency. 

Morehead is convinced that the new update will make the blockchain much more scalable and sustainable, increasing its adoption and consequently the price of the Ether currency, which could in a few years surpass Bitcoin.

At the same time, however, the CEO of the fund with $4.7 billion in assets under management remains very positive about Bitcoin’s future price, which he says could exceed $120,000 by the end of 2022.

Vincenzo Cacioppoli
Vincenzo Cacioppoli
Vincenzo was born in Genova but lived most of his life in Milan. He has a degree in political science. He is a journalist, blogger, writer, and marketing and digital advertising expert. After a long experience in traditional marketing, he started working with the web and digital advertising in 2011, creating a company called Le enfants. Passionate about the web and innovation, in 2018 he started exploring the topics related to blockchain technology and cryptocurrencies. Independent cryptocurrency trader since March 2018, he now collaborates with companies in the sector as a content marketing specialist. In his blog. mediateccando.blogspot.com, he has long been primarily focused on blockchain, which he considers to be the greatest technological innovation after the Internet. His first book about blockchain and fintech is scheduled for release in November.