Algorand founder Silvio Micali predicts only 0.1% of the more than 15,000 cryptocurrencies will survive in the coming years.


In a recent interview with Argentinian news, Algorand founder Silvio Micali shared some interesting thoughts on the future of crypto.

The amount of blockchains:

“The world does not need 10 thousand blockchains. But I do not think this is a case in which the winner takes everything. It is always good to have alternatives and it is a good sign of development that there is competition, but it can be 10 blockchains, at which at most 20, those that make sense and want to be used to host applications there“.

Comparison to dot com companies:

“If we remember the beginning of the Internet, there were many dot com companies but, in the end, there were only a few companies like Microsoft or Google that continue to this day. It is interesting that those companies were not the first. Do you remember AOL. They are companies that disappeared. Google was not the first but it had better technology that today is of great help for themselves and for the rest of the world,”

One interesting aspect about this comparison is that a couple of the big players on the internet now, like Facebook (2004) and YouTube (2005), weren’t even around during the dotcom bubble. In that sense the future king of crypto might not even have been launched yet.

Curious to hear your thoughts. Will most crypto projects die out? Do you think Micali is right when he predicts 10-20 projects will survive?

submitted by /u/Electrical_Potato_21
[link] [comments]