Binance CEO Changpeng Zhao has expressed his feelings regarding the future of blockchain in a recent interview with Fortune, expressing hope for its future.
CZ, as he is affectionally referred to, indicated that blockchain predictions, similar to those about cryptocurrency, should be taken with a pinch of salt. He sees specialized ledgers will change the face of crypto space, taking over from large blockchains such as Ethereum. Somethin already noted by some investors due to its somewhat tardy transaction speed.
Such startups as EOS, DFINITY and Tezos, reportedly described by some in the industry as “Ethereum Killers” are reputed to offer the same functionality but with greater efficiency, somewhat posing a threat to Ethereum’s dominance as a go-to cryptocurrency.
The Binance boss feels that such specialized blockchains could replace Ethereum over time with more specific tailor-made usage. He suggested that decentralized applications (Dapps) are the next big thing and that he enjoyed the opportunity to work with some these new decentralized projects seeing it as very much the future direction of the crypto industry.
Of course, he isn’t the first to have suggested this. According to Zerion founder, Evgeny Yuttaev, cryptocurrencies are still more speculative than used for practical utilitarian purposes, suggesting there is a lack of use cases for digital currencies in 2108.
He suggests that most ICOs seem to be in search of the next Bitcoin or Ethereum in search of massive profits, but what is really needed is projects which can change peoples lives, and for this to happen, Dapps need to become mainstream. Currently, there are 1,565 Dapps built on the Ethereum blockchain alone, unsurprising given Ethereum’s historical place in the development of blockchain solutions.
Such a view is in contrast with those of Ethereum founder Vitalik Buterin who feels that Dapps which pose a challenge to Ethereum consistently fail, although such a view is hardly surprising given where the network originated from – a smart contract exploit.
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