Coinbase Shares Predictions on Way forward for Ethereum Scalability, Metaverse, Defi, NFTs

Coinbase’s chief product officer has shared some predictions for 2022 concerning Ethereum’s scalability, the metaverse, decentralized finance (defi), non-fungible tokens (NFTs), and extra.

2022 Predictions by Coinbase’s Govt

Coinbase’s chief product officer, Surojit Chatterjee, shared final week 10 predictions of what the crypto business holds in 2022. The predictions cowl a spread of crypto matters, together with ETH scalability, zero-knowledge proof know-how, decentralized finance (defi), non-fungible tokens (NFTs), and the metaverse.

Non-fungible tokens “will turn into the following evolution of customers’ digital id and passport to the metaverse,” the manager described, including:

Consumer created metaverses would be the way forward for social networks and can begin threatening the promoting pushed centralized variations of social networks of as we speak.

“Manufacturers will begin actively collaborating within the metaverse and NFTs,” he continued. “NFTs and the metaverse will turn into the brand new Instagram for manufacturers.” Moreover: “Web2 firms will get up and can attempt to get into Web3 … and metaverse in 2022. Nonetheless, a lot of them are more likely to create centralized and closed community variations of the metaverse.”

Concerning regulated defi and the “emergence of on-chain KYC attestation,” the Coinbase govt defined that “Many defi protocols will embrace regulation and can create separate KYC consumer swimming pools.” He detailed:

Establishments will play a a lot larger function in defi participation … Development of regulated defi and on-chain KYC attestation will assist establishments achieve confidence in defi.

The Coinbase govt additional predicted that “Defi insurance coverage will emerge,” emphasizing that “To guard customers from hacks, viable insurance coverage protocols guaranteeing customers’ funds in opposition to safety breaches will emerge in 2022.”

The predictions additionally cowl Ethereum’s scalability. The manager stated:

ETH scalability will enhance, however newer L1 chains will see substantial progress — As we welcome the following hundred million customers to crypto and Web3, scalability challenges for ETH are more likely to develop.

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