Steve Wozniak, the co-founder of $913 billion technology giant Apple, has said that Ethereum is one of the few blockchain protocols that will outlive the dotcom bubble-esque blockchain hype. In an interview with CNBC, Wozniak stated that Ethereum has the potential to outlive the false hype surrounding blockchain technology because its smart contract protocol and base layer enable developers to deploy decentralized applications and blockchain-related products.
Apart from Bitcoin and Ether, the native cryptocurrency of the Ethereum network, Wozniak emphasized that it is difficult to see any other major digital asset or small token surviving the blockchain bubble in the mid-term. “If you look now, you say all that internet stuff happened, we got it, it just took a while.
It doesn’t change in a day; a lot of the blockchain ideas that are really good, by coming out early, they can burn themselves out by not being prepared to be stable in the long run,” said Wozniak. The Apple co-founder noted that the dotcom era was a bubble, and he feels the same way about blockchain.
Thousands of initial coin offerings (ICOs) with unoriginal and uninnovative ideas with unrealistic targets are emerging on a monthly basis and still raising many millions of dollars in Bitcoin and Ether. When the cryptocurrency market capitalization reached $900 billion and the price of Bitcoin hit $20,000 at its peak, Wozniak admits that he feared the bubble-like characteristics of the blockchain sector and sold all of his holdings in digital assets except one Bitcoin.
In the long term, Wozniak said that while new projects may emerge with active developer communities and innovative solutions, only two blockchain networks will survive the current blockchain bubble: Bitcoin and Ethereum. Unlike app-specific cryptocurrencies, appcoins, and other blockchain projects whose fundamentals are based on buzzwords and blockchain jargon, Ethereum already has a community of 250,000 developers and a group of active developers working on the main infrastructure. Read more from nulltx.com…
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