Future of Ethereum in next two years, OmiseGo Founder shares roadmap
OmiseGo CEO, Jun Hasegawa has given a picture of Ethereum blockchain’s future and the roadmap to be followed in next two years. OmiseGo is a prominent blockchain network developed on the Ethereum protocol and has a worth of billion dollar.
The year, 2017 is known for the speculation revolving around Ethereum network and the projects built on the blockchain protocol. Each quarter of the year through token sales and initial coin offerings [ICOs] accumulated billions of dollars.
Speculation of higher degree in crypto industry led to an apparent upsurge in the valuation of cryptocurrencies. The cryptocurrencies which witnessed a significant rise in the initial phase of 2017 is Bitcoin BTC], ether [ETH] and other digital currencies. In a period of one year, ether [ETH] belonging to Ethereum blockchain experienced a rise from $10 to a level of $1500. The increase in valuation has been 150 fold.
Opinions of Vitalik Buterin, co-creator of Ethereum blockchain
Vitalik Buterin, the co-founder of Ethereum blockchain network has given his opinion on the market cap of digital currencies last year in November. Buterin has also been the one to advise OmiseGo the preceding year. He has stated that the market capitalisation of virtual currencies at $500 billion can only be justified by its impact on the traditional sector of economy. It also lays impact on the capacity of the blockchain technology.
According to Buterin, “So total cryptocoin market cap just hit $0.5T today. But have we earned it? How many unbanked people have we banked? How much value is stored in smart contracts that actually do anything interesting? The answer to all of these questions is definitely not zero, and in some cases it’s quite significant. But not enough to say it’s $0.5T levels of significant. Not enough.”
In the current situation, the community of digital currency has significantly improved the scaling of blockchain technology. It has also helped to work on the application of cryptocurrencies in the crypto space. In the opinion of Hasegawa, 2018 marks the year of progress in developing interchain protocols, Casper, Sharding and Plasma. These technologies are extremely significant for achieving transactions equivalent to hundreds of thousands to a range of million transactions per on blockchain network.
Hasegawa has given an estimation that in the upcoming years, 2019 and 2020, a number of major events would happen with respect to Ethereum blockchain. These significant events involve large scale dApps, adoption in the governmental sector, massive scaling and business adoption.
As per his writing, “2017 : Speculation (ICOs)
2018 : PoC / Ecosystem bui;d / Scaling solutions ( L2 #Plasma #OmiseGO/ L1 #Sharding #Casper ) / Interchain protocols
2019 : Real business adoption / UIUX focus tools / More Dapps
2019 to 2020 : thereum massively scale and used by gov. We will see huge difference between real adoptable protocol and toxic speculation project.”
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