According to Matt Hougan, chief investment officer of Bitwise Asset Management, investors are venturing beyond Bitcoin to buy altcoins that will explode.
In an interview with Bloomberg Technology’s Emily Chang, Hougan appears to be optimistic about Ethereum, Polygon, and Solana
Ether, the crypto that runs on Ethereum, is a decentralized open source blockchain system. Decentralized smart contracts can also be executed on Ethereum
An alleged target of ether aims to become a decentralized application platform that enables users from around the world to write and run software that is resistant to censorship, fraud, and downtime.
“It appears that there is going to be a Cambrian explosion of activity around Ethereum and other Layer 1 solutions.
“In my opinion, investors will be looking at Ethereum, Solana and Polygon,” Hougan said.
Solana facilitates the creation of decentralized apps (DApps). The introduction of a proof-of-history consensus in combination with the proof-of-stake consensus on which the blockchain is based improves scalability.
Both small and institutional traders are drawn to Solana’s hybrid consensus model for its innovative features.
According to Hougan, investors are now looking beyond Bitcoin.
“There are many investors who put Bitcoin into the water in 2020 and 2021 and are now discovering that crypto is not just about Bitcoin. Next year everything else will be the big story.
“Crypto will be decentralized financing (DeFi), crypto will be non-fungible tokens (NFTs), crypto will be Web 3.0, crypto will be the metaverse. Those are the predictions that investors make, ”he said.
This is the first scalable, user-friendly Ethereum infrastructure platform based on Polygon (formerly known as the Matic network). Polygon SDK is the core component of the system, a modular, flexible framework that allows you to build a wide variety of applications
Polygon is effectively turning Ethereum into a multi-chain network (also known as the Internet of Blockchains). With the security, dynamic ecosystem and openness of Ethereum, this multi-chain system is similar to others like Polkadot, Cosmos, Avalanche etc.
The manager says he would choose Ethereum, the second largest crypto by market value, if he had to choose between Bitcoin and Ethereum.
“The asset of the year, in my opinion, was Ethereum. I love all of my children equally, but if you have to choose me, Ethereum was it. My expectations for future performance this year are reasonable.
“The blockchain is experiencing so much positive activity right now,” he said.
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