Greg Gopman: Sidechains will provide global scalability for the crypto industry – Bits Media

Co-founder of Akash Network on the Cosmos blockchain believes, that the problem of the crypto market is not volatility, and in scalability, which sidechains can provide.

Chief Marketing Officer, ANKR Business Development Manager Greg Gopman (Greg Gopman) considers, what The Cryptocurrency Industry's Unsolved Problem Isn't Actually Price Volatility, and in scalability.

«Я говорю это после обвала рынка на триллион долларов, за которым последовала нынешняя криптозима. Снова и снова мы видим многообещающие проекты, facing scalability issues", - says Goleman.

According to him, this applies even to first-level blockchains, built on the proof of stake model (PoS).

"No matter, is this a delegated proof of stake, leased proof of share, ordinary proof of share, proof of masternode stake or something else. Previously, with the volume of transactions we thought, that PoS is the answer, now we know, that greater productivity is needed", - said the head of marketing department of ANKR.

In Gopman's concept, a scalability problem is when a project is successful up to a certain point, and then cannot support further growth. This is due either to the lack of infrastructure, or with an insufficiently strong verification mechanism. In his opinion, some projects are initially better suited to sustainable growth:

“Ethereum transaction fees have been exorbitant for a long time.. Network upgrades and additional layers, such as Plasma, turned out to be ineffective, despite the hype. Bitcoin also experienced periods of severe network congestion and was simply not suitable for global adoption due to its inherent proof-of-work algorithm (PoW)».

In GameFI, scalability problems are most obvious, and they are independent of the blockchain. Hopman believes, that during the crisis such gaming products on Ethereum as CryptoKitties suffered more noticeably, Axie Infinity и DeFi Kingdoms на Harmony. According to him, на сегодняшний день сайдчейны могут быть лучшим решением для проблемы масштабируемости. Все ведущие блокчейны в отрасли изучают возможность интеграции сайдчейнов, the expert assures.

Governor of the Bank of France François Villeroy de Gallo (Francois Villeroy), against, considers, that the main problem with cryptocurrencies is their volatility, because they have no face, responsible for value". According to the official, this problem, probably, will accelerate the development of state digital currency.