FTX CEO: Even Ethereum 2.0 Will Not Be Enough To Unleash DeFi Potential
Founder of the FTX cryptocurrency exchange Sam Bankman-Fried believes that Ethereum is not capable of supporting the growth of the decentralized finance (DeFi) space. According to him, the only way to further develop DeFi is to develop projects in other blockchains..
“At a certain moment it becomes clear that we cannot get around this problem. Either we continue to build on Ethereum, or we are creating something that we thought would be really outstanding, but not both of these points at once, ”he said during the Defiant podcast.
Bankman-Freed said that his team’s attempts to implement the conceived projects “immediately led to an increase in the throughput of the Ethereum blockchain dozens of times.” He claims to have tested over 30 blockchains, including Ethereum, before choosing the Solana network to launch the Serum decentralized exchange due to its speed and infrastructure benefits..
He expects a billion people to become DeFi users one day, but scaling will have to improve dramatically. According to the FTX CEO, even Ethereum 2.0 will not be enough. “Not just 100 times faster than Ethereum, we need a solution that is a million times faster than Ethereum,” he explained..
DappRadar’s chief communications officer John Jordan previously expressed a different view. Jordan expects the launch of Ethereum 2.0 to be a significant advance for DeFi, and through technical advantages, including sharding and the Proof-of-Stake (PoS) consensus mechanism, it will be able to significantly increase speed and throughput, thus solving the most pressing problems of such applications..
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