A high govt at US-based crypto trade Coinbase is unveiling what he believes is in retailer for the crypto markets in 2022.
In a brand new firm blog post, chief product officer Surojit Chatterjee says that Ethereum (ETH) rivals Avalanche (AVAX) and Solana (SOL) ought to see vital enchancment this yr and that new layer-1 (L1) options will emerge.
“As we welcome the subsequent hundred million customers to crypto and Web3, scalability challenges for ETH are prone to develop…
Traction of Solana, Avalanche and different layer-1 chains reveals that we’ll stay in a multi-chain world sooner or later. We’re additionally going to see newer L1 chains emerge that target particular use circumstances equivalent to gaming or social media.”
Chatterjee additionally says he believes decentralized finance (DeFi) protocols will start to embrace laws and that giant establishments will start to play a much bigger position in DeFi due to it. He says that DeFi platforms welcoming laws together with know-your-customer (KYC) verification requirements would pull in hesitant blue-chip traders.
“[Institutions] are nonetheless hesitant to take part in DeFi. Institutions need to affirm that they’re solely transacting with identified counterparties which have accomplished a KYC course of. Growth of regulated DeFi and on-chain KYC attestation will assist establishments acquire confidence in DeFi.”
The govt additionally predicts that outstanding manufacturers will observe within the footsteps of Coca-Cola and Charmin by collaborating within the metaverse and using non-fungible tokens (NFTs).
“We’re prone to see extra attention-grabbing model advertising and marketing initiatives utilizing NFTs. NFTs and the metaverse will grow to be the brand new Instagram for manufacturers.
And similar to on Instagram, many manufacturers could begin as NFT native. We’ll additionally see many extra celebrities leaping within the bandwagon and utilizing NFTs to reinforce their private model.”
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