Austin Arnold, the co-host of a popular YouTube Altcoin Daily, has recently stated that money continues pouring into Ethereum (ETH), the second-largest cryptocurrency by market cap, despite the crypto market price downturn.
In a new video, Arnold pointed out that developers keep building on the largest smart contracts platform irrespective of the current situation in the crypto market.
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Arnold also referenced the importance of the plans announced by Ethereum-based metaverse platform, The Sandbox (SAND), to launch a $50 million accelerator found for metaverse startups.
Austin Arnold noted:
“Even though we are watching prices consolidate and decline in the short-term, the building continues…
“This is a huge injection of cash into the Ethereum metaverse, The Sandbox. Because of this, we are about to see a lot of buildings…
“This isn’t just going into The Sandbox metaverse. It’s going towards building an interoperable, open network in general.”
Zero-Knowledge (ZK) Roll-Up Technology Will Partly Boost Ethereum Scalability
According to Arnold, Ethereum scalability issues will be partly solved by zero-knowledge (ZK) roll-up technology, a scalability solution that runs computations off-chain and then submits a validity report.
He also stated that BitDAO, a decentralized autonomous organization, is launching a fund backed by big money, which he expects to further boost Ethereum’s scalability.
“ZK roll-ups make Ethereum a little more private, a whole lot more scalable, and BitDAO just launched this $200 million initiative to advance Ethereum scaling endeavors. Progress is happening…
“What about scaling? Well, BitDAO just launched a $200 million zkDAO to advance Ethereum scaling via zkSync… Major players are backing this scaling solution of zkSync through this DAO.”
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According to Arnold, the fast-growing non-fungible token (NFT) sector will serve as a game-changer for the Ethereum ecosystem.
