Erik Voorhees, CEO of ShapeShift, spoke about Ethereum 2.0, Vitalik Buterin’s influence over the Ethereum ecosystem and the real-life adoption of Ethereum and cryptocurrencies, in an interview with CNBC Crypto Trader.
The CEO started off by speaking about the scaling problems of Ethereum and the time taken to deliver what was promised by the Foundation.
During the DevCon4, Vitalik Buterin, the co-founder of Ethereum, unraveled more information about Ethereum 2.0. Buterin stated that Ethererum 2.0 will have Proof of Stake [PoS], Scalability [sharding], VM improvements [EWASM], improvements to cross-contact logic and protocol economics. With these implementations, the network will be 1000x more scalable and increase the transactions to 14,000 per second.
“Yeah, I mean it’ll either happen or people will move to other blockchains and other cryptos and that’s fine too. I mean this is a hyper-competitive industry where people are building the future of finance and there’s plenty of incentive in all directions.”
He further stated that Ethereum will be one of the main chains as it has the network effect and more developers than any other projects in the world.
Voorhees also spoke about whether the whole of the Ethereum ecosystem is centralized around Buterin. He stated that Buterin is “obviously” a point of centralization. He further added:
“But if Vitalik got hit by a bus and disappeared, would Ethereum go away? No, I mean it would get cut in half in price for a month or so but Vitalik doesn’t run Ethereum, he doesn’t control it. He’s just a major influence and he’s a brilliant person. So, Ethereum is better because he’s involved.”
The CEO of ShapeShift also gave his opinion on how long it would take to witness the real-life adoption of cryptocurrencies.