Coinbase Product Officer: ETH scaling enhancements are coming quickly

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A Coinbase product officer says Ethereum will be scaling better soon and there will be further advances in Layer 1 and Layer 2 bridges, as well as rollout technologies. So let’s read more today in our latest Coinbase news.

Coinbase Product Officer Surojit Chatterjee is re-sharing its predictions for the crypto industry in 2022, predicting some big strides in scaling for Ethereum. Industry leaders, investors and analysts share their predictions for the crypto ecosystem in 2022, and Coinbase’s board of directors believes Ethereum will be at the forefront of Web3 and the crypto economy as it scales better. The CPO shared his predictions on a company blog where he stated that Ethereum will become more scalable, but that Layer 1 networks will see more traction:

“I am optimistic about improving the scalability of Eth with the advent of Eth2 and many L2 rollups.”

He added that the newer Layer 1 networks are focused on gaming and social media, but will also emerge. Chatterjee predicted that many advances in Layer 1 and Layer 2 will improve scalability, adding that the industry will look for further improvements in speed and ease of use for the crossing of L1 and L2 bridges. The bridges make it possible to move tokens from the Layer 1 network such as Ethereum to a Layer 2 network Arbitrum and vice versa. Regarding scaling technologies, the board said the ZK rollups will attract both user and investor attention. The zero-knowledge scaling roll-ups of transaction data in batches is a more efficient processing on Ethereum’s layer 1.

Coinbase Profit Crash

Companies like Matter Labs have also made progress with the development of their roll-up-based zkSnc Layer 2 platform in 2021. The Layer 2 ecosystem expanded tremendously in 2021, with adoption for two major platforms growing sharply. According to L2beat-Tracks, the L2 ecosystem with the total locked value grew 11,000% over the past year, from $ 50 million in 2021 to $ 5.5 billion by the end of the year. Chatterjee predicted that there will be more privacy-centric apps, but that could attract more government attention and more KYC / AML restrictions:

“We’ll see new privacy-centric use cases emerge, including privacy-safe applications and game models that have privacy built into their core.”

Other predictions he made include tighter regulation across the industry and greater institutional involvement in Defi, as well as greater involvement in the Metaverse and NFT space.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and adhering to strict editorial guidelines. If you are interested in offering your expertise or contributing to our news website, please feel free to contact us at [email protected]


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