Acne Buterin: the rapid growth of the blockchain and cryptocurrency completed

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Acne Buterin: the rapid growth of the blockchain and cryptocurrency completed

According to co-founder of Ethereum Vitalik Buterin, the days of rapid growth industry of the blockchain and cryptocurrency in the past. Speaking in Hong Kong at a conference on the Ethereum and the blockchain, Buterin said:

“Measurement of the blockchain reaches the stage where in sight is there a “ceiling”. Now, it is necessary to speak with the average educated person, as it turns out that he heard about the blockchain at least once. In this sector no longer have the opportunity thousandfold growth.”

According to Buterin, the growth of bitcoin and other cryptocurrencies in the first six or seven years were caused by marketing, but now, saith he, whose words are quoted by the website Cryptocurrencyguide, “this strategy is close to being a dead-end.”

The next step will be to attempt to engage people already interested in crypto-currencies in these activities on a deeper level. Buterin said:

Need to move from just of interested people to specific manifestations of real economic activity”.

Ether, the cryptocurrency that serves as “fuel” of the blockchain of Ethereum, lost its position more than 80 percent in comparison with January this year’s high and is now trading at a price of $250 (estimated exchange Bitstamp and Bloomberg). Ether is used as a “gas” to pay for transactions at decentralized applications on the Ethereum network.

Price drop of ether has increased in August, as some startups who were paid in the digital currency in the course of their ICO, cashed the funds to cover the costs and amid concerns caused by a General fall in the price of the cryptocurrency.

According to experts Bloomberg Intelligence Mike McGlone, price of air could fall to $155, as the competition increases, market volatility and the maturation process of the industry. But even that’s an increase of 2000% compared to the end of 2016.

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