Ethereum co-founder and blockchain guru Vitalik Buterin was recently interviewed about the next evolution of cryptocurrency. Buterin gave a short interview to Smart Valor at the University of Basel, during which he stated that the next wave of cryptocurrency "will not be built on hype."
Buterin said that the "space" in the cryptomarkets has grown and "progress" has been made in the ecosystem. Dozens of new cryptocurrencies have entered the market and with it new regulatory systems too. Buterin said he is pleased with the progress at the moment and that it appears to be that the new regulatory checks are "friendly" to the cryptomarket.
The cryptomarket has continuously been growing, which is a positive effect on the market; though with the rise of new cryptocurrencies, the market has been volatile, to say the least. The first wave was built on hype, which not only led the market to reach amazing heights, and drops, but fraud appeared to be rampant and unchecked in the cryptomarkets.
With new regulatory systems in place, it seems to be that there will be watchful eyes that will help keep fraud in check. One of the latest instances is the fines that the SEC charged to DJ Khaled and Professional Boxer Floyd Mayweather. In addition to those charges, Colorado and Texas both have been cracking down on fraud. England too has been fighting suspected fraudulent instances in the market.
With regulatory restrictions in place, and continuously being added, cryptocurrencies seem to be ready to enter the mainstream. Buterin said the next phase that is needed is for cryptocurrencies to have more "actual applications" in the real world before it can be fully embraced.