logo

DeFi space would become more cross- chained as Ethereum’s dominance wanes – Kava CEO

DB A D ADD F BD FE E

  • DeFi would wean itself off Ethereum’s dependence
  • Brian predicts that the DeFi industry could become more cross-chained

Brian Kerr —CEO of Kava— in a recent interview with Cryptopotato has disclosed that the decentralized finance (DeFi) sector could become less dependent on Ethereum

He envisages that the present network issues DeFi tokens are currently battling with on Ethereum could give way to a system that would become more cross-chained in nature.

Kerr believes that the DeFi sector is currently playing a role in the digitising of the current world. He predicts that the sector would have a bigger role to play in the nearest future.

In his words, the financial products that are currently in the sector have enormous potential to grow enormously.

He went on to note the shift in mentality of market players to invest in more stablecoins instead of the more popular Bitcoin and Ethereum. According to him, this has played a role in how DeFi leading protocols have got new investments.

He went on to clarify his earlier assertion of how the industry would become more cross-chained. He believes that issues like network congestion and the increasing cost of gas would make Ethereum an uninteresting option for users.

Predicting the DeFi industry in ten years

Kerr predicted the DeFi industry would have grown enormously in the next decade. He predicts that most centralised platforms would begin to adopt more DeFi protocols.

This would eventually lead to the creation of a better user experience in the industry which at the end, would lead to an increase in the user base.

He identifies the possibility of the growth of possible Ponzi schemes and more exit scams in the industry. He advised investors to be more careful and carry out due diligence on coins they would be investing in.

His final prediction for the industry is that he cannot really predict how the industry would pan out to be in the next ten years. He uses the example of Bitcoin and Ethereum as analogy of what he means.

He said, ten years ago, Bitcoin was still at its development stage, and there was no sign on Ethereum. Today, both are recording massive growth and acceptance by the public.

Kamsi King

Kamsi King

King Kamsi is a fintech and digital currency writer and enthusiast. He is keenly interested in blockchain and cryptocurrency and their global adoption. When not busy with writing, he can be found hobnobbing in forums with the best minds in crypto, both developers and startup founders.

Related News

Hot Stories

ChainLink price analysis: LINK price stays consistent at $7.5
Tezos price analysis: Bearish momentum degrades XTZ price to $1.43
Litecoin price analysis: LTC/USD stabilizes at $53.58 after a bearish period
Ripple price analysis: XRP dips to lows of $0.475 after a bearish spell
Solana restarted for the 8th time. What went wrong this time?

Follow Us

Industry News

Solana restarted for the 8th time. What went wrong this time?
LUNC is finally deflationary
Is Africa winning in crypto adoption?
Spanish telco announces Web3 adoption
The Sandbox and HSBC flop show