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Former Coinbase CTO Balaji Srinivasan has revealed that a new crypto era might be in play. In a recent video, Srinivasan highlights three eras of cryptocurrencies: the 2009-2017 era, which intended to prove Bitcoin would work; 2017-2025, which proves programmability and scalability work; and 2025 onwards, marking the privacy era.
Srinivasan indicates that the next eight years in crypto might be the "age of privacy." In the video, the former Coinbase CTO delved into Bitcoin, programmability in crypto and smart contracts.
On programmability, Srinivasan says he does not see it at an end, as there are scalable on-chain smart contracts that can support a large number of users and large numbers of transactions with finality, adding that a lot of the original vision was realized and already works in developing countries.
Srinivasan believes that the whole storyline of programmability is not yet done, but it is mature in "a way that even three years ago, I don't I would not say scaling was solved. Obviously, there's still L2s. There's still going to be problems to solve."
The ex-Coinbase CTO gives a highlight of how the past years of crypto have trended. The first eight years were all about proving that Bitcoin could work, then the next eight years were spent proving that programmability would work, including scalability and so on.
Srinivasan highlights that a new crypto era has arrived, with privacy shaping the narrative of the next five years, from 2025 to 2030.
Privacy next big thing?
As reported, Cardano Founder Charles Hoskinson pointed out that privacy might be the next "big thing" in cryptocurrency and stands to be the narrative of value appreciation this cycle, with Ethereum killers such as Solana being that of the last cycle.
According to the Cardano founder, every season has its peculiarity, with a big push for privacy at the moment, stemming from the need to link the legacy and DeFi worlds together. He recounts progress being made by privacy-focused blockchains, including Midnight and Zksync, among others.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team