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Coinbase CTO: Crypto Is Entering The Tech Mainstream

Summary:

Coinbase CTO Balaji Srinivasan thinks crypto is entering tech mainstream. ‘€œSundar Pichai & Sergey Brin’€™s sons are both mining crypto; Facebook is doing blockchain; Square open sourced some nice cold storage code; Microsoft, Amazon, Google Cloud all have blockchain efforts; crypto is entering the tech mainstream”, he said. This year crypto and blockchain made significant progress in institutionalizing an emerging asset class, improving market structure, and strengthening the underlying techs.

Questions:

  • Is cryptocurrency becoming mainstream?

Article:

Balaji Srinivasan, a prominent venture capital investor and the chief technical officer at Coinbase, said that crypto is entering the tech mainstream.

“Sundar Pichai & Sergey Brin’s sons are both mining crypto; Facebook is doing blockchain; Square open sourced some nice cold storage code; Microsoft, Amazon, Google Cloud all have blockchain efforts; crypto is entering the tech mainstream.”

Since early 2018, unreflective of the 73 percent correction in the cryptocurrency market which saw the combined valuation of cryptocurrencies drop from $800 billion to $210 billion, the cryptocurrency market and blockchain sector have shown significant progress in terms of institutionalizing an emerging asset class, improving market structure, and strengthening the underlying technologies of cryptocurrencies.

As a data processing technology, the blockchain enables the segregation and storage of data in a series of blocks in a peer-to-peer process. But, to ensure that bad actors with malicious intent are penalized accordingly for engaging in fraudulent activity, an incentive system in the form of a cryptocurrency is necessary on a blockchain network.

To better understand the necessity, structure, and decentralized nature, an increasing number of institutions, technology conglomerates, and enthusiasts have started to mine cryptocurrencies that support major blockchain networks.

Read More: https://www.ccn.com/coinbase-cto-crypto-is-entering-the-tech-mainstream/

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