Chen Zhuling: Blockchain Will Be Bigger Than Ever

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Chen Zhuling – founder and CEO of Rock X – is confident blockchain is going to reach new levels of usage and popularity in the coming months.

Chen Zhuling on Blockchain’s Future

In a recent interview, he stated:

The attraction of leading technology developers to the blockchain industry represents a broadening recognition of blockchain as more than just a financial instrument. It is a foundation for the new digital frontier. Blockchain is akin to a new-age internet, being increasingly utilized as a robust, decentralized platform for innovation. This evolution is still nascent, predominantly scrutinized through a financial lens by regulators. As the industry matures and regulations broaden to embrace the technological potential of blockchain, we will see a global surge in blockchain-enabled innovations.

Regarding current market sentiments and the overall trends being witnessed in the web3 arena, Zhuling further mentioned:

Like any other, the cryptocurrency market is subject to fluctuations and periods of downturn. However, those who see the long-term potential of these digital assets and the technology underpinning them may find it worthwhile to weather these volatile periods. The future of web3, the decentralized internet, is ripe with promise. Though we can’t predict the exact timing of a market rebound, we can expect continued growth and development in this sphere, driving new applications and opportunities.

He also said that the full adoption of crypto is critical if the finance industry is to stand strong in the coming future. He commented:

The institutional adoption of cryptocurrencies is a critical indicator of their viability and future potential. Assets like bitcoin and Ethereum have been embraced by increasing financial institutions, which indicates a strong confidence in their value as investment instruments. As the industry matures, we are likely to see more sophisticated products emerge, from passive staking yields to hedging mechanisms, all aimed at optimizing the potential returns of these crypto assets.

He also discussed the future developments and upgrades involving Ethereum, the world’s second largest digital asset by market cap:

The recent transition of Ethereum from a mining-centric, proof of work model to a more energy-efficient, proof of stake mechanism marks a significant leap forward for the platform. This change has boosted participation in the Ethereum network and attracted institutional attention. The Shapella upgrade, successfully implemented in April, has further bolstered Ethereum’s appeal, leading to a surge in ETH being staked. While current staking yields of four to six percent may appear modest, they represent a sustainable method of earning crypto returns without the inherent risks associated with trading or lending.

Who Could Beat ETH?

Regarding ETH’s biggest rivals Cosmos and Polkadot, he said:

Emerging blockchains like Cosmos and Polkadot, while still younger than Ethereum, are rapidly carving out their niches. Cosmos is recognized for its innovative scalability solutions, while Polkadot stands out for its interoperability.