FTX CEO and founder Sam Bankman-Fried said that the altcoin projects that will endure will be those that can scale to allow mass adoption if more than a billion people use Blockchain.
FTX CEO continues to draw attention to popular altcoin Solana (SOL)
FTX is one of the largest cryptocurrency exchanges in the world. cryptocoin.com As we have also reported, the NBA team in Miami recently acquired the right to change the name of the American Airlines Arena, which hosts the Miami Heat, to FTX Arena. Bankman-Fried said on a show he attended recently that there will always be more crashes, more bull runs. FTX CEO shared the characteristics of cryptocurrencies that could survive another systemic collapse:
The best projects to survive are those that are huge, have really loyal followers, and have really important use cases. I think the ones that seem the most excitement driven are the ones that crash the most, but when you look at projects that are actually being adopted or have the potential for real adoption, these are projects that they will staunchly support, even in bear markets. And… anything else that has a key feature that cannot be replaced by another competitor.
Bankman-Fried highlighted the importance of scalability for a cryptocurrency as mass adoption is finally happening. “If you look at what it would cost for a billion people to use Blockchain infrastructure, it’s likely that millions of transactions will be created per second,” he said. Pointing out that a protocol like Solana could overcome this, he made the following statements:
[Solana] The most compelling thing about Blockchain is that it has the potential to scale if it grows, and to host DeFi applications for hundreds of millions, billions of people.
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