Peter Smith, CEO of crypto consulting firm Blockchain.com, took to Twitter to express his excitement about the future of crypto. In a series of tweets, Smith declared that Defi and CeFi are the future of finance.
According to Smith, the future of finance lies in decentralized finance (DeFi) and centralized finance (CeFi), as well as zero-knowledge (ZK) technology. He started his 8-thread tweet by acknowledging the growth of crypto this year, emphasizing the diversification of BTC mining. The CEO stated that no single country is higher than 30-35% in terms of mining share.
He went further to celebrate the improved scaling achieved in the crypto world. While it is true that scalability has been a challenge for some cryptocurrencies, particularly those with high levels of adoption, such as bitcoin and ethereum, there have been various efforts to improve scalability through the use of technologies such as off-chain transactions and layer 2 solutions. These efforts have helped to increase the capacity of these networks and enable them to handle larger numbers of transactions.
He also stated that the cryptocurrency market’s value accrual is shifting from primarily driven by base protocols to increasingly driven by decentralized finance (DeFi) and centralized finance (CeFi) apps that directly interact with end users.
The move is expected to have significant implications for the market, as it may lead to a greater focus on user experience and the development of more user-friendly apps. It could also lead to increased competition among DeFi and CeFi apps as they strive to differentiate themselves and attract more users.
Peter Smith also mentioned ZK (zero-knowledge proof), a cryptographic method for proving the authenticity of a statement without revealing the underlying information. These systems are a relatively new and rapidly developing area of cryptography and computer science.
Blockchain.com is a digital wallet and platform for buying, selling, and storing cryptocurrencies. The company was founded in 2011 and is headquartered in London, England.
Blockchain.com offers a range of products and services for individuals and institutions, including a digital wallet, a trading platform, and tools for merchants to accept cryptocurrencies as payment. The company also offers a suite of enterprise-grade products and services for businesses, including blockchain infrastructure and developer tools.
In addition to its core products and services, Blockchain.com operates other ventures, including a research arm focused on the development of blockchain technology, a venture capital fund for investing in blockchain-based startups, and a crypto exchange.
Ifeanyi Egede
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