eToro CEO Reminds Investors Ethereum (ETH) Still the Most Popular Smart Contract Platform
Ethereum Is The Most Used Smart Contract Platform According to The CEO of eToro
During a recent interview, a cryptocurrency portal has reunited the CEO of Sirin Labs, Moshe Hogeg, the CEO of Orbs, Daniel Peled, the founder and CEO of eToro, Yoni Assia, and the CEO of One Alpha, Yaniv Feldman to talk about the future of the Ethereum blockchain and how will this network fare after the ICO bust.
While the monthly funding gained via Initial Coin Offerings (ICOs) is still somewhat low, it has raised a bit last month from $417 to about $500 million USD. The numbers indicate that Hash Graph was able to get $100 million USD in funding and tZero, $54 million USD. However, the dominance of Bitcoin is rising and more people are starting to become concerned about whether Ethereum will be a good platform to raise money or not.
The Opinion of the Experts
Moshe Hogeg has affirmed that the utility token market is far from being dead. In his opinion, ICOs still raise a lot of money, but most of the ETH is converted back into fiat. This helps the industry but it harms it at the same time because the employees are not paid in ETH and, when they are, they generally simply cash out. People are not storing the ETH.
The CEO of Sirin Labs believes that this is a great time to enter the market, though, as the prices are low and it was proven that ICOs have valued when you see the examples last year.
Even Hogeg admitted that he was using ETH and BTC to trade for USD in order to pay his employees, though. According to him, you need to pay salaries and suppliers. This way, the money is invested, but turned into USD. Many tokens have lost value, though, so he affirmed that a lot of people sold his tokens during the year and that the people who decided not to do it ended up losing some money in the long run.
Daniel Peled appointed that a lot of utility tokens have lost all their value this year. Many of them were simply immature and not prepared for the market while other got a lot of hype but were empty despite their promises.
According to him, one of the main focus of the developers simply has to how to create better blockchain technology on top of the current layers to solve scalability issues, governance problems and address privacy concerns.
Yaniv Feldman, on the other hand, was mostly concerned on how Ethereum uses its own Ether (ETH) as gas and affirmed that this can be considered a fundamental problem of the platform, but it does not need that it has to be the end of utilities.
Finally, the CEO of eToro has revealed that he is bullish on Ethereum and that is the most used smart contract platform in the world. According to the CEO, the Ethereum blockchain will acquire a lot of value in the future with new apps and with the smart contract technology.