VanEck CEO: We should pay attention to the high gas fees on the chain! Rather than the issuance of ETFs such as Bitcoin and Ethereum

This site (120btC.coM): VanEck CEO Janvan Eck pointed out in an interview with CoinDesk that the encryption industry should focus more on on-chain transaction fees instead of paying too much attention to Bitcoin and Ethereum. Wait for related ETF issuance.

Focus on high on-chain fees, not crypto ETFs

Janvan Eck pointed out that the on-chain transaction fees of Bitcoin and Ethereum are unpredictable, which makes it difficult to establish practical applications in the ecosystem. more difficult.

If you look at the on-chain transaction fees of Bitcoin and Ethereum, no one would want to use these databases to build any applications, right? I give this example to non-crypto people: "Would you want to pay $50 for gas one week and then suddenly it's $600 the next week?" That's basically what Ethereum's expensive gas is.

Optimistic about the development of on-chain applications

Janvan Eck believes that stabilizing on-chain fees was the most important thing last year, but attention seems to have been confused by the issuance of Bitcoin ETFs. The good news is that it has already Affordable transaction fees are available through Solana or L2.

To me, the most interesting thing in crypto right now is that we have scalable databases that can accommodate large numbers of users, maintain high uptime, and now have predictable costs, he said. So it is possible to build practical applications on these databases at this stage, and I expect that practical applications will become more prominent in the next few years.

The VanEck analysis team recently issued a report, which is very optimistic about the future development of L2: Janvan Eck also mentioned his pessimistic view of the Ethereum spot ETF, believing that it is unlikely to be approved before the May deadline. Compared with Regarding Bitcoin ETFs, the SEC has not responded to the application of the Ethereum spot ETF issuer.

He said: We have submitted the S1 file but have not received any news yet. This means that “the Ethereum ETF will not be approved if the issuer is not prepared to disclose documents.”

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