In a recent interview with crypto analyst Austin Arnold, engineer, CEO, and DeFi enthusiast Georgi shared his bullish outlook for Ethereum, citing the potential for the blockchain to exceed Bitcoin’s market cap in the next bull run. Austin, known for the crypto YouTube channel Altcoin Daily, sought Georgi’s perspective on the biggest challenges for Ethereum and other Layer 1 (L1) blockchains and the future of decentralized finance.
DeFi and Ethereum: A Powerful Combination
Georgi’s passion for DeFi and Ethereum is rooted in the potential of blockchain technology and the automation enabled by decentralized finance. He says he envisions a future where traditional finance is transformed by concepts like flash loans, which allow for multiple transactions to be executed within a single block. Ethereum, with its focus on decentralization and censorship resistance, is well-positioned to be the top project in the world in the next decade.
Improving User Experience for Mass Adoption
For Ethereum to reach its full potential, Georgi believes that user experience must improve. High transaction fees and user experience issues on the Ethereum blockchain have driven some users to alternative chains like Binance Smart Chain. To foster mass adoption, the expert says Ethereum must continue to streamline its blockchain and address issues like the high costs of smart contract wallets compared to regular wallets.
Ethereum’s Competition and Challenges
Georgi acknowledges the existence of other Layer 1 blockchain but emphasizes the stronghold Ethereum Virtual Machine (EVM) compatible blockchains have in the space. Despite the potential competition, he sees Ethereum maintaining its position as the most decentralized and censorship-resistant option. The primary risks for Ethereum, according to Georgi, are core issues within the EVM itself and potential problems during blockchain upgrades.
A Higher Market Cap than Bitcoin?
Austin asked Georgi for a price prediction for Ethereum in the next bull run, considering the possibility of Bitcoin surpassing $100,000. While he couldn’t provide a specific number due to the rules governing his company’s upcoming public offering, Georgi remains confident that Ethereum’s market cap will exceed that of Bitcoin.
Source: https://coinpedia.org/altcoin/ethereum-poised-to-surpass-bitcoin-in-next-bull-run-heres-why-and-how/