A prime government 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) opponents Avalanche (AVAX) and Solana (SOL) ought to see vital enchancment this 12 months and that new layer-1 (L1) options will emerge.
“As we welcome the following 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 dwell in a multi-chain world sooner or later. We’re additionally going to see newer L1 chains emerge that target particular use instances reminiscent of gaming or social media.”
Chatterjee additionally says he believes decentralized finance (DeFi) protocols will start to embrace laws and that enormous 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 buyers.
“[Institutions] are nonetheless hesitant to take part in DeFi. Establishments need to affirm that they’re solely transacting with recognized counterparties which have accomplished a KYC course of. Development of regulated DeFi and on-chain KYC attestation will assist establishments achieve confidence in DeFi.”
The chief additionally predicts that outstanding manufacturers will comply with 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 fascinating model advertising initiatives utilizing NFTs. NFTs and the metaverse will grow to be the brand new Instagram for manufacturers.
And identical 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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