In an interview with Bloomberg, Ethereum’s creator, Vitalik Buterin, stated that 1.000x growth rates are unlikely to happen. With the majority of the mainstream market now aware of the industry, development takes precedence over promotion.
No Large Growth Anymore
We will see no more days of staggering growth from 2017 and early 2018, according to the Vitalik Buterin. The number of opportunities decreases over the time, with businesses more interested in developing existent blockchain technology. According to Buterin, there shall be no more 1.000x growth rates but rather more stable value changes.
The ETH developer believes that the highest values of cryptocurrencies are in sight. The situation now is quite different from what was the case at the end of 2017 and the beginning of 2018. The bitcoin pushed the entire industry as general public started to actively involve itself in digital coins.
Development over Promotion
Most of the global population is already somewhat aware of the industry. With the increased demand in 2017, most investors are now actively participating in the industry. Thus, the period of promotion ended at the time when bitcoin faced its first dip. Now, Buterin states it is time for new blockchain ideas to come out.
Many businesses are now developing their own crypto network, with Swiss banks and the U.S. businesses leading the way. Instead of the investment opportunities for a quick profit, individuals and organizations find solutions to real-world problems more interesting.
On the other side, current blockchain dev teams focus their efforts on developing protocols and dapps. Ethereum is looking to implement Sharding and Plasma as a solution to scaling problems, which plague current blockchain systems.
“Sharding is a layer one scalability solution, designed to directly improve the existing blockchain — essentially making it work a lot better. On the other hand, Plasma is designated to be a layer two scalability solution — which doesn’t improve the blockchain itself. Instead, it takes an existing blockchain, creates a special construction which is connected to it, and thus provides a much higher throughput”, explained Vitalik.
There are opposing voices to the Vitalik’s claims, which state that large growths are not just possible but inevitable. For example, Tom Lee from Fundstrat predicted bitcoin’s price to grow back to $25.000 at the end of 2018. TenX co-founder went even a step further, claiming that Bitcoin can even hit $60,000 at the end of the year. We will see which prediction will turn out to be true as the current year ends.