Ethereum [ETH]’s Vitalik Buterin: Next wave as of crypto adoption is not going to be built on hype

Vitalik Buterin, the co-founder of the third biggest cryptocurrency, Ethereum, spoke about the evolution of the cryptocurrency space, in an interview with Smart Valor. He also spoke about the next big wave for the cryptocurrency space for 2019.

Buterin started by speaking about the advancement of the space, remarking that it has “definitely grown a lot.” He added that in 2014, the space was filled with the Ethereum team, a few companies and a couple of people. He went on to say:

“Every time I come here, the space definitely keeps growing and at this point, it’s looking like it’s just huge, you know. There’s just people in all of the different universities get interested in the technology, seeing the interest from just all the sheer number of companies that are based here.”

The co-founder added that the space has witnessed a massive progress. He also spoke about the regulatory environment in the cryptocurrency space, stating that it “seems” to continue to be friendly. Buterin went on to say “it’s definitely great when you don’t have one of those kinds of issues hanging over your shoulders.”

The co-founder elucidated on the price of all the cryptocurrencies. The cryptocurrency has seen a massive drop since it reached its all-time high, with Ethereum even losing it’s second position to XRP. Additionally, most of top cryptocurrencies in the market have lost more than half of their values since the beginning of this year.

On this, Vitalik believes that the space currently requires more “actual applications” of the technology for it to move forward, on which the entire team has been striving to build for a long time. He said:

“Like basically the next wave as of crypto adoption is not going to be built on hype because the hype is basically already come. It has to come from really useful applications and things delivering value to people”

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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.