1000 times return on investments?

               1000 times return on investments?    

   Changpeng Zhao (CZ), from Binance, has been in the news recently because he believes that the cryptocurrency market can have a long-term return of 1000 times. Critics said that is unlikely as it could bring the value above one hundred trillion which is insanely large compared to the financial market. CZ replied  “I still disagree with this. I will say ‘crypto will absolutely grow 1000x and more!’ Just reaching USD market cap will give it close to 1000x, (that's just one currency with severely restricted use case), and the derivatives market is so much bigger.” “You also can't use traditional market size to measure potential for new technologies or industries. If you used (and people have) taxi market size to estimate Uber's potential, you would be off by quite a bit.” A 1000x times return does seem a bit far-fetched, but other experts do believe there will be a bounce back to the cryptocurrency market soon. Many experts are still waiting for financial institutions to get involved in cryptocurrency, which would surely give a boom to the market. It is possible the thing to get us this explosion in the market is new technology, like L Vertex’s DigitOn, as I stated earlier in the week I think will help, but what else?      

             Faster Cryptocurrency?    

   One of the criticisms of cryptocurrencies is how much time it takes to make a payment. When using another kind of online payment solution, such as visa or PayPal, the payment can be made almost instantly, however with cryptocurrencies it can take over 45 minutes for a payment to go through. David Chaum is launching a new cryptocurrency called Elixxir, and he believes he’s solved a lot of the problems currently in cryptocurrency with it.  David claims that his coin will also be more private as he has implemented something he calls “Mixnodes,” which is part of his “multi-party computation” concept. The idea of the multi-party computation being that in a multitude of computations you only need one to be true.  The big problem David claims with cryptocurrency, though, is the speed of transactions. Cryptocurrency transactions are slow because everytime a transaction takes place there needs to be a public key operation to check authenticity. However, David claims that with his tech the public key operation happens in “advance” making the transaction 1000 times faster.  If you want to read more about David Chaum’s tech check out the article here https://www.coindesk.com/ecashs-inventor-is-back-and-he-thinks-hes-built-the-fastest-ever-blockchain/ 

   

Photo by Bill Jelen on Unsplash  

   Maybe for the market to get a 1000 times return on investments, transactions need to be 1000 times faster?  

-Written by James Hepburn