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According to Vitalik Buterin, co-creator of Ethereum, the days of growth in 1000x, as we saw in 2017 in the cryptocurrency sector, have disappeared.
S addressing Bloomberg, Buterin pointed out that knowledge of cryptocurrency technology and blockchain technology had already peaked in December 2017, when prices of major cryptocurrencies such as Bitcoin, Ethereum, Ripple and Bitcoin Cash were 10 to 300 times higher.
"The space of the blockchain reaches the point where there is a ceiling in sight. If you talk to the average educated person at this point, they have probably heard about the blockchain at least once. There is no longer an opportunity to multiply by 1,000 the growth of everything in space, "he said.
Switch from promotion to actual adoption
The speculative bubble of last year has led the vast majority to be interested in cryptocurrencies as an emerging asset class. In the coming years, Buterin said the sector will focus on improving the usability and accessibility of decentralized systems rather than promoting and collecting interest.
Buterin explained that the strategy of promoting blockchain technology and crypto-currencies among extended customers is in stalemate and that it is time to improve the infrastructure of decentralized systems , applications (dApps) and protocols to encourage consumers to engage platforms.
"Getting people interested in the real applications of real economic activity," he said, adding "this strategy [promoting the blockchain to the broader consumer base]is approaching a dead end.
In the months and years ahead, dApp developers will need to ensure that the use of decentralized systems is as transparent and efficient as centralized platforms.
For example, apps like Peepeth, a decentralized alternative to Twitter, recently discussed on the Joe Rogan podcast, require users to send ether or gas whenever information needs to be broadcast over the network. main Ethereum.
The simple passage of cash to cryptocurrencies can already be difficult and technically difficult for the majority of people. So, asking users to use MetaMask to process gas on a dApp via the Ethereum main network could be very complicated for most.
As already stated the CEO of Kyber Network, Loi Luu, according to a decentralized system of cryptocurrency, in the near future, dApps will need to improve their user interface to refine and simplify the process of using the systems based on the blockchain.
"I think it's because the user interface is not good enough. Users are not familiar with decentralized exchanges. they are more familiar with Binance or Bittrex. That's why we wanted it to be really easy to use for the user. We therefore do not focus on the decentralized aspect. We are focusing more on the ease of use aspect, "said Luu, recognizing that the current user interface of decentralized exchanges and dsps is not efficient enough.
Protocol and dApp enhancements
On the protocol side, Ethereum's open-source developer community is working on the implementation of Sharding and Plasma, two solutions that are expected to massively increase the scalability of the Ethereum network.
Other projects, such as Cardano and Zilliqa, are working on stake validation and Sharding solutions as alternatives to plasma-based and Ethereum solutions.
However, front-end applications and user interfaces for App and distributed systems generally need to be dramatically improved, especially if App applications intend to target the consumer base of widely used centralized platforms.
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