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An Ethereum Developer Explains Why Cryptocurrencies, DAOs, And NFTs Are The Future

Antigua and Barbuda, Saint Mary, New Division
Published 8 months ago
ID #1086
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An Ethereum Developer Explains Why Cryptocurrencies, DAOs, And NFTs Are The Future
Antigua and Barbuda, Saint Mary, New Division,
Published 8 months ago

Description

Lane Rettig is now working on a new decentralized project, more efficient and scalable than Ethereum.

Although they are currently subjected to market volatility, cryptocurrencies are entering our life to change it dramatically, becoming over time a key component for buying tickets, forming and managing businesses or paying salaries, says Lane Rettig, a former developer of Ethereum, the second most popular decentralized system.

In an interview with Yahoo Finance, Rettig assures that "cryptocurrencies will have a profound and lasting impact on our lives."

"What we have seen so far is relatively superficial. The social impact has only just begun. It is going to affect all corners of society, of our daily lives," he adds.

Rettig believes that cryptocurrencies have only taken the first steps towards their adoption and compares the current situation with that of 1980, before Apple introduced its Mac personal computer.

"We are a year or two away from them being easier to use," he estimates.

DAO: new form of companies

This sector will simplify and make the creation and management of companies cheaper, starting a new generation of entrepreneurs and businesses. In this context, the expert referred to DAO (decentralized autonomous organization), a new form of business organization, directed through blockchain technology ('blockchain') and smart contracts.

Democratically managed and automated by token owners, DAOs will replace traditional corporate structures, allowing you to vote or move funds in a matter of minutes.

Utility NFT

The exorbitant popularity of non-fungible tokens (NFTs) - digital assets that are not mutually interchangeable and therefore claim to have collectible value - have seen this year, which has generated new revenue streams in the sports industry , art, music and video games, will have more useful applications in the future, considers Rettig.


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    Antigua and Barbuda, Saint Mary, New Division
    St. Saint Mary Lome 458