Ethereum is the Leader in DeFi but Some Blockchains Will Take Market Share

Ishan Pandey Hacker Profile Picture

Ishan Pandey

Veteran Encoder. Cryptographic, DeFi, and Security Tokens – Blockchain.

Ishan Pandey: Hi Justin, welcome to our Beyond Startup series. Please tell us about yourself and the story behind Skylaunch?

Justin Knight: Hi Ishan, Thanks for hosting me today! My name is Justin, and I’m COO of SkyLaunch! I have been in the coding field for 5 years and worked on several DEFI projects recently.

Other than that, I studied at Grenoble Ecole de Management, where I earned a master’s degree in international business, and used to be a Director of Sales and Marketing for top IT companies like Oracle, Runecast and Criteo.

Lots of people only work half time in the crypto space, but with SkyLaunch, I decided to take the leap and join the crypto world full time!

The story behind SkyLaunch is easy to understand: 2021 was the year of the launchers, but they’re all focused on just one thing: fundraising. So many great projects out there, and they don’t necessarily know how hidden space works. Communication is very important, and fundraising can only be secondary. With SkyLaunch, we want to create a platform that assists the project before, during and after IDO, connecting the best actors in the space and making sure that each project has all the tools and resources needed to reach the success they aim for.

Ishan Pandey: What is the process for including a blockchain project in IDO or launchpad?

Justin Knight: We have a whole team of crypto analysts who review projects, talk to them, see progress, and whether it has good growth potential. We have our own set of standards, and we really want to go for quality projects rather than quantity. We are here to provide a long term investment for our users, we prefer to make few very good deals on IDO every two days but with low potential.

If you are looking for an IDO platform and are considering SkyLaunch, there is a page on our site to place your order!

Ishan Pandey: According to a recent report by JPMorgan, Ethereum’s supremacy in decentralized finance (DeFi) is at risk as network expansion, which is essential to maintaining its dominance, may emerge too late. Do you think the delay in the last sharding phase will have a negative impact on Ethereum’s dominance within the DeFi space?

Justin Knight:

Ethereum is the leader in DeFi but some blockchains will take some market share.

There is no doubt about that. However, I still think we’re very early in the development of the crypto space, and new blockchains with better scalability will emerge and take some market share from Ethereum (we’re already starting to see this phenomenon with Solana, Velas, EGLD, Polygon, Avalanche… which made some really impressive gains in terms of capitalization during 2021).

Ishan Pandey: Cryptocurrencies are reaping huge potential for global economic reform, and the paradigm shift is evident even as crypto crime reaches a record $14 billion in 2021. What are your opinions and suggestions regarding cybersecurity in the cryptocurrency industry?

Justin Knight: As mentioned, I still think we’re way too early. The coding space can be very challenging and complex for newcomers and is still seen as a “gray/dark” area for most of the population in general. However, the more use cases the projects will apply to everyday life, the more it makes sense (luxury brands using NFTs attached to physical goods to counter fakes, etc.)

As for cyber security in the cryptocurrency industry, we will need to further develop the user experience. Cryptocurrency is a revolution, but cryptocurrency also needs to think about and direct the average user as much as possible to make their life easier. I still think that cyber security in the cryptocurrency industry has not done enough to make it easy and simple to use.

Ishan Pandey: Solana was one of the best performing cryptocurrencies in 2021, and it also ranks as one of the biggest competitors to Ethereum. What do you think of Solana?

Justin Knight: Solana is a very strong competitor to Ethereum, and we’ve seen a lot of projects focusing their major development on Solana first rather than Ethereum. Momentum is slowly changing, but to replace Ethereum other blockchains like Solana will need to prove they can scale better, which is not an easy task, in my opinion!

Ishan Pandey: In what ways do you think Covid-19 has affected decentralized finance, and what is the overall impact of the pandemic on the crypto industry as a whole?

Justin Knight: Honestly, I don’t think Covid-19 has had a huge impact on the crypto industry. At least not more impact than anywhere else. It could have been the other way around. With all the shutdowns, people got curious and started reading about cryptography, and a lot of new users arrived during these shutdown phases.

Ishan Pandey: Despite recent market declines and regulatory crackdowns in some countries, cryptocurrencies are gradually but steadily gaining acceptance in all businesses and industries. Do you think that blockchain technology will be widely adopted in the next five years?

Justin Knight: I certainly do. Otherwise, I wouldn’t have made the leap from a traditional job to a full-time job in the crypto industry!

We’re in a new direction, a new paradigm, and we’re seeing a lot of evolution from day to day! A year ago, DeFi was in a very early stage, about a year ago, no one was talking about NFTs. A year ago, we didn’t hear much about GameFi or the Metaverse… The space is growing and developing very fast, and this is the most exciting part of my work; To see all these changes and ride the wave to provide SkyLaunch users with the best trends and upcoming new projects!

Ishan Pandey: What new trends do you see in the blockchain industry next?

Justin Knight: It’s very hard to anticipate because everything moves so fast! If we exclude crypto, I believe that blockchain has a huge role in the import/export industry (tracking of goods…). Blockchain can have a very powerful role in the luxury brand sector to fight counterfeit goods (link a physical luxury good to the NFT on a particular blockchain, so you know what you have is real and not fake).

Then, if we include the crypto industry, I’m sure the next big thing will blow everyone’s minds as DeFi, NFT, and GameFI/Metaverse have done!

Disclaimer: The purpose of this article is to remove the informational asymmetry that exists today in our digital markets by conducting due diligence, asking the right questions and providing readers with better opinions to make informed decisions.

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