digital asset investment company Pantera CapitalAccording to Joey Krug, co-investing officer of Ethereum (ETH) it seems highly unlikely that it will be threatened by other smart contract platforms.
Speaking in a new interview, Krug said that as long as Ethereum (ETH) can successfully transition to proof-of-stake, other smart contract platformsHe explained that he thinks that the coin will have to rely on Ethereum as a base in the future.
“If you turn the clock forward 10 to 20 years, a very large percentage, perhaps even more than 50%, of financial transactions in the world will touch Ethereum in some way, shape or form.”
A highly anticipated Ethereum upgrade known in the crypto world as “The Merge” aims to replace the network’s existing proof-of-work consensus mechanism with a more environmentally friendly, secure and efficient proof-of-stake model. The merger is scheduled to take place in the 1st or 2nd quarter of 2022.
Krug also noted that ETH competitors may have their own drawbacks, such as security concerns.
“There is a lot of trade that other chains do that Ethereum does not do on the decentralization side, which is pretty important. I’m not sure if they’re best suited to be the new global financial consensus layer.”
Ethereum (ETH), trading at $3,021, down more than 26% from where it was priced a month ago.
Meanwhile, David Grider, head of research at Grayscale Investments, made a different prediction, stating to Bloomberg that he thinks more than one smart contract platform can be successful in this area.
“I don’t think this is the kind of winner-take-all market. Ethereum, it has a network leader effect. Other communities have emerged that have this large community, but fill different market gaps.”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.