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Coinbase Shares Predictions on Future of Ethereum Scalability, Metaverse, Defi, NFTs – Featured Bitcoin News

Coinbase’s Chief Product Officer shares 2022 forecasts for Ethereum’s scalability, metaverse, decentralized finance (defi), non-fungible tokens (NFT) and more.

2022 Forecast by Coinbase Executives

Surojit Chatterjee, Chief Product Officer of Coinbase, share Last week, 10 forecasts of what the crypto industry holds in 2022.Forecasts cover a range of cryptographic topics, including: ETH Scalability, zero-knowledge proof technology, decentralized finance (defi), non-fungible tokens (NFT), and metaverse.

Non-fungible tokens “will be the next evolution of users’ digital IDs and passports to the Metaverse,” executives explained, adding:

User-created metaverses are the future of social networks and begin to threaten ad-driven, centralized versions of today’s social networks.

“Brands will begin to actively participate in Metaverse and NFTs,” he continued. “NFTs and Metaverse will be brand new Instagram.” In addition, “Web2 companies will wake up and try to enter Web3 … and Metaverse in 2022, but many of them will be Metaverse centralized and May create a closed network version. “

Regarding regulated defi and “the emergence of the on-chain KYC attestation,” Coinbase executives explained that “many defi protocols adopt regulation and create a separate KYC user pool.” He in detail:

Financial institutions play a much larger role in participating in decentralized finance … The growth of regulated decentralized finance and on-chain KYC certification helps financial institutions gain confidence in decentralized finance.

Coinbase executives further predicted that “Defi insurance will emerge” and emphasized that “in 2022, a viable insurance protocol will emerge to guarantee users’ funds from security breaches to protect them from hacking.” Did.

The forecast also covers Ethereum’s scalability. The executive said:

ETH Scalability will improve, but the new L1 chain will grow significantly — the scalability challenge is to welcome the next 100 million users to encryption and Web3. ETH It has the potential to grow.

Tags for this story

2022 forecast, brand, Coinbase, Coinbase crypto prediction, Coinbase executive, Coinbase forecast, Decentralized finance, DeFi, Digital identity, Ethereum, Metaverse, NFT, Non-substitutable token

What do you think of Coinbase executives’ forecasts? Let us know in the comments section below.

Kevin Helms

Kevin, a student of Austrian economics, has been an evangelist since he found Bitcoin in 2011. His interests are in Bitcoin security, open source systems, network effects, and the crossroads of economics and cryptography.

Image credit: Shutterstock, AIXabay, Wikicommons

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