Newblock
  • News
    • Bitcoin
    • Ethereum
    • XRP
    • Solana
    • Cardano
    • Blockchain News
    • Press Releases
    • Events
  • Analysis
    • Market Analysis
    • Price analysis
  • Ranking
No Result
View All Result
  • Login
Buy crypto
Newblock
  • News
    • Bitcoin
    • Ethereum
    • XRP
    • Solana
    • Cardano
    • Blockchain News
    • Press Releases
    • Events
  • Analysis
    • Market Analysis
    • Price analysis
  • Ranking
No Result
View All Result
Newblock
ethereum news

Coinbase Chief Of Product Predicts Major Advances For Ethereum In 2022

January 14, 2022
in Ethereum News
415 8
0
Share on FacebookShare on Twitter

Ethereum is one of the prominent blockchains in the crypto industry that established smart contract technology. This helped consolidate decentralized finance and checkmate third-party interference in cryptocurrency transactions. But in the past, its main challenge and setback were linked to scalability and speed in executing transactions.

As the months and years roll by, Ethereum is making tremendous progress in tackling scalability issues. This led to the rolling out of the layer-two version of the blockchain.

Related article | Is Norton 360 Mining Ethereum In Your Computer? If It Is, They’ll Take a 15% Cut

With the new year’s kick-off, many individuals have shared their predictions and expectations for the crypto industry in 2022. Some of these individuals include investors, analysts, and industry leaders. Among the several comments comes the latest publish from Surojit Chatterjee, the Chief Product Officer of Coinbase.

Chatterjee predicts major advances for the scalability of Ethereum. Sharing his predictions on Tuesday through a company blog post, the CPO expressed his confidence in Ethereum. He mentioned that the blockchain’s scalability would push it ahead of Web3 and the crypto economy.

Ethereum
Ethereum struggles to rise again | Source: ETHUSD on TradingView.com

Furthermore, he was confident that there would be an improvement in Ethereum’s scalability. Also, he stated possible traction for alternative layer-one networks.

Further in his post, the CPO commented on the emergence of newer layer-one networks based on social media and gaming. He explained that advancing from layer-one to layer-two bridges will propel a vast improvement for scalability. Moreover, he anticipated a situation where the industry has a desperate search for advancement in speed and the utility of cross-L1 and L1-L2 bridges.

Benefits Of Cross-Bridges For Ethereum Scalability

Using these bridges will facilitate the easy transfer of tokens from a layer-one (L1) network like Ethereum to a layer-two (L2) network like Arbitrum. Also, it enables reverse transactions between the bridges.

For companies like Matter Labs, 2021 saw its tremendous advancement. The firm developed and deployed its layer-two platform based on zkSync rollup to achieve its great feat.

Generally, 2021 was a year of massive expansion for the layer-two ecosystem as all the major platforms have a surge in adoption. The tracker for layer-two ecosystems, L2beat, reports almost an 11,000% increase in total value locked for the past year. This brought the value by 2021 to $5.5 billion against $50 million by January 2021.

Concerning scaling technologies, Chatterjee picked out zk-Rollups as he mentioned their attractive capacity for users and investors. He explained that the scalability of Zero-knowledge compiles transactions data in batches. This will enable efficiency in their processing on L1 of Ethereum.

Furthermore, Coinbase CPO foresees the emerging of more privacy-focused applications. However, he mentioned that it would lead to more attention from the regulatory bodies since there are enforced restrictions through KYC and Anti-Money Laundering (AML).

Related article | More Green Energy: Crypto Mining Saves A Hydro Power Plant In Costa Rica

Chatterjee has other predictions, including increased industry regulations, more DeFi insurance, and more institutional involvement in DeFi. Others are shifts to Web3 by Web2 companies, more brand participation in metaverses, and non-fungible tokens (NFTs).

Featured image from Pexels, Charts from TradingView.com

Source link

You might also like

cloudflare-ethereum

Cloudflare to run Ethereum node experiment to help ‘build a better internet’

May 22, 2022
LUNA flips Ethereum

LUNA flips Ethereum becoming second largest network for staked value

March 4, 2022

Related News

cloudflare-ethereum

Cloudflare to run Ethereum node experiment to help ‘build a better internet’

by Editorial Team
May 22, 2022
0

Ahead of Ethereum’s highly anticipated switch to proof-of-stake (PoS), cyber security firm Cloudflare is set to launch and fully stake...

LUNA flips Ethereum

LUNA flips Ethereum becoming second largest network for staked value

by Editorial Team
March 4, 2022
0

According to data from Staking Rewards, Terra (LUNA) has flipped Ethereum (ETH) in terms of staked value, with $29.5 billion...

Nvidia software unlock crypto mining

Nvidia hackers selling software unlock for graphics card crypto mining limiters

by Editorial Team
March 3, 2022
0

A hacking group that infiltrated Nvidia servers last month is attempting to sell software that could unlock crypto mining hash...

Uniswap swap altcoins into ETH

Uniswap builds interface to swap altcoins into ETH donations for Ukraine

by Editorial Team
March 2, 2022
0

On Tuesday, decentralized exchange Uniswap launched an interface that directly converts ERC-20 tokens — such as Aave, Chainlink’s LINK and Decentraland’s MANA...

Next Post
Lemonway Leverages RippleNet To Unlock Faster Euro-To-Euro Payments

Lemonway Leverages RippleNet To Unlock Faster Euro-To-Euro Payments

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Get daily news updates to your inbox!

Popular

  • crypto price analysis

    BTC, ETH, BNB, ADA, SOL, XRP, LUNA, DOGE, DOT, AVAX

    21678 shares
    Share 8671 Tweet 5420
  • Google Launches Blockchain Division

    5331 shares
    Share 2131 Tweet 1332
  • Microsoft Reveals Activision Purchase for $68.7 Billion as an Approach to the Metaverse

    972 shares
    Share 389 Tweet 243
  • GAIMIN Brings Blockchain and NFTs to Minecraft – Press release Bitcoin News

    957 shares
    Share 383 Tweet 239
  • Coinbase exec says major Ethereum scaling improvements coming soon

    923 shares
    Share 369 Tweet 231

Recommended

What is a DAO

What is a DAO? and The evolution of DAOs

February 13, 2022
NYC Mayor Adams crypto

NYC Mayor Adams to receive first paycheck in cryptocurrency Friday

January 20, 2022
Newblock

Newblock is a blockchain news service that covers bitcoin and altcoin news, technical analysis & forecasts for bitcoin price and other altcoins.
© 2022 Newblock

Navigate Site

  • Blockchain news
  • Crypto Analysis
  • Ranking
  • Media Partnerships
  • Privacy Center
  • Contact Us
  • Donate

Follow Us

No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • XRP
    • Cardano
    • Solana
    • Blockchain News
    • Press Releases
    • Events
  • Analysis
    • Market Analysis
    • Price analysis
  • Ranking
  • Buy Crypto
  • Privacy Center
  • Contact Us
  • Donate

Newblock is a blockchain news service that covers bitcoin and altcoin news, technical analysis & forecasts for bitcoin price and other altcoins.
© 2022 Newblock

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.