Chief Executive officer of a leading cryptocurrency exchange Binance believes that the platform smart contracts, which set a universal problem (for example, Ethereum and EOS) cannot provide enough speed in order to succeed in the long term.
Chanpen Zhao (“CZ”) in a new interview for Fortune stated that these projects will ultimately yield projects that give developers the tools to create blockchains for specific purposes.
The Ethereum blockchain taxis, when it comes to decentralized applications and definition of standards. But competitors with serious budgets, such as Tezos, Eos Dfinity, I believe that they will be able to get around Ethereum, offering a faster and more efficient protocols. So who will win?
But CZ says that all “they’re too slow.”
Any blockchain that is designed to address common problems (as those players that are now present on the market), will not be fast enough. Instead, he thinks that the existing blackany will give way to more specialized.
CZ believes that the future of such projects as Komodo and Tendermint that allow you to create blackany for a specific purpose.
Ethereum and other smart contract platform are working to improve their speed. Ethereum Creator Vitalik Buterin said recently that it was possible to increase the speed up to a million transactions per second.
As for the future of decentralized applications Zhao believes that we are at the beginning of this process and in future we will have even more decentralized games, social networking, rating systems, etc.