The revolution of crypto apps on the top of social media platforms and messengers will finally change the narrative in crypto adoption. Not every blockchain team should be happy about this, seasoned investor and researcher Chris Burniske warns.
Crypto apps' adoption to skyrocket next year, Chris Burniske says
In 2025, crypto apps are set to onboard tens to hundreds of millions of new users, just like OpenAI's ChatGPT bot is doing right now. Such a prediction was shared by Chris Burniske, Placeholder partner and former head of ARK Invest's crypto unit in X (formerly Twitter).
The hotly anticipated massive adoption will bring in a new generation of users en masse, and much faster than in previous periods. Crypto is expected to benefit from its unfair advantage, i.e., its status as a unique financialized infrastructure directly intertwined with the social media phenomenon, the expert says.
The user inflow will be so gargantuan that the crypto sphere will move from "Where is the adoption?" to the "Too much adoption" phase in a few months, with developers "running around with hair on fire."
This radical change will amplify scalability issues with L1 and L2 blockchains; few modern blockchain environments are ready to handle the potential user flow properly.
As such, the seasoned expert recommends that everyone prepare for surprises.
Arman ShirinyanAs covered by U.Today previously, Chris Burniske shared his opinion about celebrity coin euphoria on Solana (SOL) blockchain.
Chain abstraction to help?
The synergy between social networks and crypto apps has already fueled the growth of new Web3 products, NEAR founder Illia Polosukhin added, commenting on the forecast by Burniske.
He recalled the success story of the NEAR-based decentralized validator network, which hit the two million daily user milestone in 10 days thanks to its integration with Telegram.
Vladislav SopovTechnically, such moves become possible thanks to the chain abstraction concept, the NEAR founder opined. As covered by U.Today previously, NEAR has collaborated with Polygon Labs in this field from mid-January 2024.
Arman Shirinyan
Alex Dovbnya