When SBF_FTX talks, we listen. The FTX CEO gave his perspective on the state of the crypto industry and noted three keys for progress in 2022: regulation, scaling and transaction speeds.
. SBF explained that while smart contracts have paved the way for metaverses, decentralized finance and Web 3.0 developments, video games could be the path to massive scaling:
“Tapping into the existing userbase of video games could be huge–billions of users and hundreds of billions of dollars each year.” However, he went on to say, “This only makes sense if it makes the virtual worlds more engaging, not less.” Blockchain integrations in games, such as nonfungible tokens, only work if they improve an already great game or virtual experience.Finally, cryptocurrency transactions must change gears. Levels of 50,000 transactions per second are not enough to satisfy industrial-scale applications. Without high speeds, the other two issues cannot execute well.
“I always laugh when a blockchain says they’re already fast. None are! [...] Fast means millions of TPS. No one is there yet.”
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