bitcoinBTC/USD
$ 20,211.00
ethereumETH/USD
$ 1,136.18
tetherUSDT/USD
$ 1.00
cardanoADA/USD
$ 0.457104
xrpXRP/USD
$ 0.325456
usd-coinUSDC/USD
$ 1.00

Mark Cuban Says the Market Driver is Commercial Smart Contract Mainstreaming

Mark Cuban sees commercial smart contract implementation as the next stimulus for the crypto and blockchain industries.

Mark Cuban sees commercial smart contract implementation as the next stimulus for the crypto and blockchain industries.

Mark Cuban stated that “when businesses can use smart contracts to gain a competitive advantage, they will. The chains that realize this will survive.” 

The owner of the Dallas Mavericks and a known crypto supporter was comparing the existing situation of the cryptocurrency market to the fall of many enterprises that were part of the dot com bubble in the early 2000s, with the excessive excitement around them being just as comparable as enterprises in the market currently. 

Almost all of the list of 100 most prominent crypto assets have lost double digits in the last week, indicating that the cryptocurrency market is in bad shape. Numerous causes, including the Federal Reserve’s latest policy changes, are assumed to be driving the bearish attitudes in the market. Nevertheless, early on Tuesday on Twitter, Cuban mentioned a present “imitation phase” in crypto/blockchain, rather than actual progress, saying that “crypto is going through the lull that the internet went through.” 

According to Mark Cuban, the blockchain ventures that merely “copy what everyone else has” by crossing across NFTs to DeFi protocols, will ultimately fade out because not every chain needs them.

Rather, Cuban believes that smart contract platforms aimed at substituting software as a service (SAAS) apps would thrive in the future: “what we have not seen is the use of Smart Contracts to improve business productivity and profitability. That will have to be the next driver. When businesses can use Smart Contracts to gain a competitive advantage, they will. The chains that realize this will survive.”

The year before saw the major players choose Ethereum (ETH), Solana (SOL), Polkadot (DOT), and Cardano (ADA) as their smart contract platforms of preference, according to CoinShares’ cryptocurrency funds report for the entire year 2021.

As per the research, funds providing exposure to Ethereum (ETH) were the clear winners, bringing in $1.38 billion. $219 million were brought in by the funds of Solana (SOL), followed by Polkadot (DOT) funds that brought in $116 million, and lastly, $115 million were brought in by Cardano (ADA) funds.

Also read:

Related News

The withdrawal limit for traders has been temporarily lowered by cryptocurrency-backed loans provider CoinLoan.

The Withdrawal Limit Temporarily Reduced by CoinLoan

The withdrawal limit for traders has been temporarily lowered by cryptocurrency-backed loans provider CoinLoan. The corporation cited the present market crash as the reason for the decision. Due to the change, customers are now limited to a $5,000 maximum withdrawal limit each day. In their announcement, they noted the following: “the interest we pay on the Interest Accounts is yielded by issuing overcollateralized loans to other platform users. Hence in some

Read More »
The price may perhaps clear the $1,200 obstacle above the next significant resistance, which is located close to the $1,180 zone.

New Surge in Sight As Ethereum (ETH) Gathers Momentum

Following a period of stability at $1,000 versus the US Dollar, Ethereum (ETH) enters a new uptrend. Above the $1,150 barrier level, Ethereum (ETH) can move much higher. Near the $1,070 region, the pricing was able to overcome a few significant obstacles. Even the 61.8 percent Fib retracement level of the significant decline from the swing high of $1,235 to the low of $997 was tested by the price. The

Read More »
In order to share their doubts about the industry, the first anti-crypto conference attendees are hoping to get a word with officials from the government.

Crypto Policy Symposium 2022: The First Anti-Crypto Conference

In order to share their doubts about the industry, the first anti-crypto conference attendees are hoping to get a word with officials from the government. Critics of the industry and doubters have joined together to host their own anti-crypto conference where they can express their doubts and connect with legislators in the midst of the most recent crypto bear market. The Crypto Policy Symposium promises to provide skeptics a platform

Read More »

My Coins

bitcoinBitcoin
$ 20,211.000.34%
ethereumEthereum
$ 1,136.181.58%
cardanoCardano
$ 0.4571042.4%
tetherTether
$ 1.000.22%

Newest Videos on YouTube

We inform and educate people about Cryptocurrencies and Blockchain technology.

© Copyright 2021, All Rights Reserved,
Crypto Academy

Bitcoin

Contact Us

For any question conatct us through:

sales@crypto-academy.org

Disclaimer: All information and materials on this website are for educational purposes only. Crypto-academy.org does not provide any form of financial advice. Cryptocurrencies are highly volatile, therefore any form of investing carries a high level of risk to your capital. It is recommended that you seek professional advice prior to implementing any investment or financial plan.

We do not ask you for your Cryptocurrency / We do not hold your Coins / We do not ask for Private Keys / Be aware of scammers and imposters.

Contact us only through: sales@crypto-academy.org