As the dust settled on the upcoming transition of the Ethereum network to Proof of Stake (PoS), Starkware co-founder Eli Ben Sassoon shared his thoughts on the implementation and future possibilities.
Speaking to Cointelegraph’s Gareth Jenkinson at the Token2049 event, Ben Sasson shared his thoughts on the current post-merger situation and how it affects Tier 2 projects like Starkware. In addition, the CEO also shared his thoughts on adoption and interest in Tier 2 products and crypto coins.
Looking back on the implementation of Ethereum Merge, Ben Sassoon was pleased that the transition went smoothly and said that everything happened as it should. The CEO stated that:
“The most important thing is that it was carried out flawlessly. Everything that should have happened happened. Nothing that bothered people happened. And that’s good news.”
In addition, the CEO also emphasized the importance of making the new Ethereum network better for the environment. This reduces carbon emissions. That’s a big thing, and it also bodes very well for the potential for future improvements.”
According to Ben Sasson, the merger also makes Ethereum a better settlement layer and a more practical platform for second-layer solutions. The CEO emphasized that this is a very important development for their Starkware products as they can offer account scaling, compression and other enhancements that their technology has to offer.
Related: China’s GPU prices fall to new lows after Ethereum consolidation
Aside from the Ethereum merger, Ben-Sasson also shared that much of the adoption and interest in Starkware solutions comes from projects that have also been successful on Ethereum’s Layer 1. This includes non-fungible tokens (NFT), blockchain gaming and decentralized finance . (DeFi). In addition, the CEO shared his predictions for the future. he said that:
“I expect that the ability to do larger calculations and very low gas consumption will at some point lead to completely new and unexpected applications that will have much greater value.”
With everything going on, the CEO also shared his view that while many people describe the current state of the crypto and blockchain space as a crypto winter, his team sees it differently. “It’s like spring with a mild summer approaching,” he said.
