During a recent interview with VentureBeat’s Dean Takashi in an online-only Computex event, Jensen Huang, CEO of Nvidia, gave his thoughts on the Ethereum Proof-of-Stake blockchain and its value.
With the Ethereum network’s current reputation, Huang believes many people consider it a legitimate, established, and credible network that works well. At present, “a lot of people depend on it for DeFi and other things. This is a great time for proof of stake to come.” Huang elaborated:
“Am I excited about proof of stake? The answer’s yes. I believe that the demand for Ethereum has reached such a high level that it would be nice for either somebody to come up with an ASIC that does it, or for there to be another method,” – the Nvidia CEO told VentureBeat.
The transition phase will see new Ethereum protocols, such as the transition to Ethereum 2.0, which is crucial for getting a hold on spiraling fees and holds sway for the broader adoption of Ethereum, particularly for the masses. According to Huang:
“It’s now established that Ethereum is going to be quite valuable. There’s a future where the processing of these transactions can be a lot faster, and because there are so many people built on top of it now, Ethereum is going to be valuable.”
Ethereum network has value
Ethereum’s upgrade, known as EIP-1559, part of a more significant move toward Ethereum 2.0, will see the network’s current transaction fee system revised.
