Vitalik Buterin On Blockchain: “There’s a Ceiling In Sight”

Blockchain, News | September 10, 2018 By:

Vitalik Buterin, the co-creator of ethereum, said at a conference over the weekend that the days of explosive growth in blockchain technology may be over.

Speaking to Bloomberg News at the Ethereum Industry Summit conference in Hong Kong, Buterin said the first phase of adoption – awareness – has been achieved.

“The blockchain space is getting to the point where there’s a ceiling in sight,” Buterin told Bloomberg “If you talk to the average educated person at this point, they probably have heard of blockchain at least once. There isn’t an opportunity for yet another 1,000-times growth in anything in the space anymore.”

Now that blockchain has penetrated the consciousness of most businesses, there are limits to growth based on that, Buterin said.  “That strategy is getting close to hitting a dead end,” he said.

Ether, used to fund the transactions on the ethereum blockchain, dropped below the $200 mark as of Monday, and is down 85 percent on the year from its January highs.