The chief product officer at Coinbase, Surojit Chatterjee, has analysed the performance of the crypto market in 2022. He noted that great advancements in Ethereum scaling were on the way.
Chatterjee is the latest addition to the long list of crypto market analysts publishing their predictions for the crypto market in 2022.
Chatterjee shares his optimism on Ethereum
Chatterjee shared his confidence in the milestones that Ethereum will achieve in 2022. He noted that the network could take the lead in Web 3 and the entire crypto market due to its commitment to achieving scalability.
In a blog post released on Tuesday, Chatterjee noted that Ethereum’s scalability will improve in 2022 and that layer one networks will see notable growth. “I am optimistic about improvements in Eth scalability with the emergence of Eth 2 and many L2 rollups,” he noted.
The Coinbase executive also opined that 2022 would see an emergence of layer-one networks that focus on gaming and social media. He predicted that scalability in the network would see major advancements because of a shift from layer one to layer two networks.
According to him, the crypto sector will “desperately seek improvements in speed and usability of cross-L1 and L1-L2 bridges.” The bridges will allow the movement of tokens from a layer one network to a layer two network.
Scalable technologies to attract attention
The CPO also talked about scalable technologies such as zk-Rollups. He noted that these technologies will “attract both investor and user attention.” A wide range of firms is focusing on zk rollups.
Matter Labs made great advancements in 2021 in pursuing scalable solutions for layer two networks. Additionally, the layer two sector recorded major growth in 2021 due to growing adoption.
Another area that Chatterjee predicted notable growth is in privacy-focused applications. He noted that these applications will attract regulatory attention due to improved Know Your Customer and Anti-Money laundering laws.
“We’ll see new privacy-centric use cases emerge, including privacy-safe applications and gaming models that have privacy built into the core,” he said. Other areas that will also see notable levels of growth in 2022 include non-fungible tokens, DeFi insurance and the metaverse.
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