Ethereum will match Visa in scale of operations in a “couple of years”, according to its creator


The creator of the Ethereum believes that cryptocurrencies are the future of security and economy, and that their scale of operations will continue to grow. So he has assured TechCrunch in an interview in which he has divided the world into two types of people, those who have already heard about bitcoin and those who have not yet done so.

In fact, Vitalik Buterin already talks about Ethereum and cryptocurrencies being able to match the scale of credit card transactions “in a couple of years”. This is undoubtedly a fairly optimistic forecast considering the crash of the cryptocurrencies in recent weeks.

“Where Ethereum comes from is basically to take the idea of ​​the cryptographic economy and the types of economic incentives that keep the growth of elements like Bitcoin to create decentralized networks with memory for a lot of applications,” Buterin said in the interview. “A good blockchain application is something that needs decentralization and some kind of shared memory.”

The Ethereum has emerged as a new reference cryptocurrency that differs clearly from Bitcoin, since while Bitcoin tries to generate a global economy, in Ethereum they write computer codes in the chain of blocks and on the Internet. Come on, they do not look so much to become an alternative currency as a functionality applicable to the world of software.

“Bitcoin is processing a little less than 3 transactions per second,” he said. “Ethereum is doing five per second, while Uber already takes 12 rides per second, it will take a couple of years for the Blockchain to replace Visa.” In this case, it is necessary to clarify that Buterin himself has nuanced afterwards his words, assuring that it refers to the scale of transactions and not to a real substitution of the current Visa cards.

“You could run StarCraft in the block chain,” he assured later to ensure that although there are things that should not, there are many other things that could use the chain of blocks. “That kind of thing is possible, the high level of security and scalability allows all these other things to be built on top, Ethereum is a secure base layer that does not have many features.”

Words of encouragement in low hours

Considering the black weeks that cryptocurrencies are having based on the chain of blocks, and that with the DAO case we saw that Ethereum is not free of dangers, Buterin’s words may sound overly optimistic. Ensures that everything is based on incentives, although the cryptocurrency is no longer as juicy as it was in the past.

In addition, although in terms of the volume of transactions the cryptocurrencies continue to grow, it will continue to try to move from being an almost exclusive tool for a minority with technical knowledge to something much more usable by other people who do not know as much. It seems difficult that until then, regardless of whether its value rises or continues to fall, reach its true potential among ordinary citizens.

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