DeFi and Layer 2 Set to be Catalyst for Ethereum Adoption

Tech genius and blockchain enthusiast, Tyler Smith, recently composed a tweet where he talks about how Defi would open Ethereum to further adoption. Smith further notes that as a result of the influx of major big game crypto players, the innovation and technical specifications coming to the Ethereum platform would be a big game-changer. According to Smith’s Twitter bio, he runs Altona Validators, and as a result of that, he has access to the next upgrade coming the way of the network that is seen as a “devnet”.

dApps will adopt layer-2 scaling solutions, Smith notes

Talking about dApps, Smith noted that they would begin to adopt and utilize layer-2 scaling solutions in the years to come. “We’ve had an absolute avalanche of layer-2 projects launch in the last two months, while we also congratulate the crypto community for doing “a great job” on the myriad tradeoffs,” Smith said. Smith also noted that since dApps are set to use their layer-2 scaling options, it will eventually be initiated based on the need for specific service.

Smith also noted that if the layer-2 scaling solutions are launched, it will take many crypto enthusiasts in the community by surprise. This would happen because the adoption would be speedy and would boost the current 15 transactions per second limited on Ethereum. The first to recognize and enjoy the privileges will be users of some dApps, as gamers would be the first to experience. He noted that the benefits the players enjoy would eventually lay the groundwork for the massive adoption of crypto.

Ethereum 2.0 set to be the most anticipated event in the crypto industry

Talking about the ETH 2.0 phase that is about to be launched, he noted that the launch would boost the use case of Ethereum further. He said that clients are getting increasingly good with the testnet getting smoother. Talking about how companies react, Smith said, “Lots of ETH2.0 staking service companies will make huge marketing pushes. The battle for market share in providing staking services will be intense.”

Smith said that the launch of the ETH 2.0 would be the most anticipated event since the start of Ethereum itself. He noted that people would anticipate the event even more than the Bitcoin halving that recently happened in May. Smith said that taxes after the ETH 2.0 launch would be a nightmare because Ethereum is classified as a commodity in the US presently. He said that if the rewards start coming in, authorities will have their hands full.