Wednesday, August 4

Nvidia CEO: Ethereum (ETH) Will Be Valuable

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ethereum

Nvidia CEO Jensen Huang shared his thoughts on Ethereum and proof-of-stake in an interview with VentureBeat’s Dean Takashi.

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Huang states that many people see Ethereum as a reliable network.

“A lot of people rely on Ethereum for DeFi and other features. This is a great time for proof-of-stake. Excited about proof-of stkae? Yes, I am excited.”

Huang said that Ethereum 2.0 is coming for the wider adoption of Ethereum. He also predicts that we may see more Ethereum protocols.

“It is certain that Ethereum will be quite valuable. There is a future where transactions can happen much faster.”

The Value of the Ethereum Network

Part of a more substantial move towards Ethereum 2.0, the Ethereum upgrade known as EIP-1559 will see the network’s existing transaction fee system overhaul.

Users will send a fee to the network itself, not to the miners who maintain the network. These fees will then be burned, reducing the overall ETH supply, which is a controversial issue among the cryptocurrency community in itself.

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