Vitalik Buterin On The Next Cryptocurrency Adoption Wave: Its Not Going To Be Built On Hype
Vitalik Buterin, Ethereum’s co-founder, talked about the future of the cryptocurrency world during an interview with Smart Valor. He has also been talking about crypto mass adoption for the next years. Buterin is one of the most important and relevant figures in the virtual currency space.
He started the conversation by talking about how the crypto space is moving forward. He remarked that cryptocurrencies have substantially evolved during the last few years. According to Buterin, blockchain technology and virtual currencies continue to grow year after year. He said that there are people in many different universities that get interested in technology and are trying to learn more about the space.
Furthermore, he added that the market has also seen and experienced a massive progress in terms of regulatory issues. About it, he mentioned that the regulatory environment seems to remain friendly. However, he explained that there are things that must be solved for developers and team members not to have problems when they build different projects.
Ethereum’s co-founder has also talked about cryptocurrencies and the market. Since the beginning of the year, virtual currencies experienced an important drop in their price. Ethereum (ETH), for example, lost the second position that it had during most of the current year. XRP was able to surpass it and keep that position for a longer period of time compared to the past.
However, most of the virtual currencies lost more than half of their value since the beginning of the current year. The worst performing tokens lost more than 95% of their price.
Buterin believes that the crypto world needs more ‘actula applications’ in order to keep moving forward.
About it, he commented:
“Like basically the next wave as of crypto adoption is not going to be built on hype because the hype is basically already come. It has to come from really useful applications and things delivering value to people.”
At the time of writing, Ethereum is the third largest virtual currency in the market. It has a market capitalization of $12.18 billion and each ETH can be purchased for $117 dollars.