January 17, 2022




Home Coinbase Coinbase exec says main Ethereum scaling enhancements coming quickly – Cointelegraph

Coinbase exec says main Ethereum scaling enhancements coming quickly – Cointelegraph

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The Chief Product Officer at Coinbase foresees that there can be extra advances in layer 1 to layer 2 bridges and rollup applied sciences.

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Coinbase Chief Product Officer Surojit Chatterjee is the most recent to publish his predictions for the crypto {industry} in 2022 and he foresees main advances within the scaling of Ethereum.

Trade leaders, analysts, and traders are sharing their 2022 predictions for the crypto ecosystem, and Coinbase’s Surojit Chatterjee is assured that Ethereum can be on the forefront of Web3 and the crypto-economy because it scales.

The CPO shared his predictions in an organization weblog post on Jan. 4 through which he said that Ethereum scalability will enhance however various layer 1 networks may also see traction.

“I’m optimistic about enhancements in Eth scalability with the emergence of Eth2 and plenty of L2 rollups.”

He added that newer layer 1 networks centered on gaming and social media may also emerge. Chatterjee predicts that scalability can be vastly improved by advances in layer 1 to layer 2 bridges, including that the {industry} will “desperately search enhancements in pace and usefulness of cross-L1 and L1-L2 bridges.”

These bridges allow tokens to be moved from a layer 1 community reminiscent of Ethereum to a layer 2 community reminiscent of Arbitrum and vice versa.

Referring to scaling applied sciences, the CPO particularly talked about ZK-rollups stating that they may “entice each investor and consumer consideration.” Zero-Data scaling “rolls up” transactions information in batches for extra environment friendly processing on Ethereum’s layer 1.

Companies reminiscent of Matter Labs have advanced in leaps and bounds in 2021 with the event and deployment of their rollup-based zkSync layer 2 platform.

The layer 2 ecosystem has undergone large growth in 2021 with a surge in adoption for all main platforms. In response to L2beat, which tracks the L2 ecosystem, the entire worth locked surged by almost 11,000% over the previous 12 months from round $50 million in January 2021 to $5.5 billion by the tip of the 12 months.

Associated: Even with Ethereum 2.0 underway, L2 scaling is still key to DeFi’s future

Chatterjee predicted that there can be extra privacy-focused functions rising however this might entice extra regulatory consideration as more KYC/AML (know your customer/anti-money laundering) restrictions are enforced.

“We’ll see new privacy-centric use circumstances emerge, together with privacy-safe functions, and gaming fashions which have privateness constructed into the core.”

Different predictions he made embrace extra regulation industry-wide, bigger institutional participation in DeFi, the emergence of extra DeFi insurance coverage, higher model involvement in Metaverse and NFTs, and Web2 corporations scrambling to get into Web3.

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