Blockchain scalability is a ‘solved problem’ says Offchain Labs CEO

Regulatory compliance and building better user interfaces is the next step for wider blockchain adoption

article-image

Torbz/Shutterstock modified by Blockworks

share

Blockchain scalability is no longer the biggest barrier for public blockchain adoption, says Offchain Labs’ Steven Goldfeder.

Goldfeder, Offchain Labs’ chief executive, said during the Real World Asset Summit held in New York City on Tuesday that the biggest challenges faced by ecosystems today center around the creation of tools with better user interfaces and regulatory compliance. 

“Scalability is very much a solved problem today,” Goldfeder said. He went on to note that scaling is a never-ending process that blockchain infrastructures today are equipped to handle.

“That’s not the problem that ecosystems are working on today. It’s about user interface and compliance,” he said.

Read more: What we need to scale blockchain technology into the future

Resolving such issues would ease the path for larger institutions, including banks, according to Provenance Blockchain CEO Anthony Moro. 

That sentiment was shared by Charlie You, co-founder of RWA.xyz, who said that existing institutions and users aren’t interested in the tech behind blockchain protocols. Rather, they care whether they’re  safe and legal to use.

You went on to say that developers should consider different kinds of users when building.

“A lot of existing RWA users are not crypto users; there are a lot of people who are using these products, but they are not the same people who are using Uniswap,” You said. 

Sergey Gorbunov, the co-founder of Axelar, added: “It’s important to make it easy for people to have easy flow to on-ramp into these structures.”


Don’t miss the next big story – join our free daily newsletter.

Tags

Upcoming Events

MON - WED, MARCH 18 - 20, 2024

Digital Asset Summit (DAS) is returning March 2024. What you can expect: And more! Don’t miss out on the opportunity to be in the room when the future of crypto is decided. Join us and help shape the future of our […]

recent research

Research report - cover graphics-2.jpg

Research

Base has doubled-down on its commitment to the Superchain vision, has shown early signs of success with nearly $400M in TVL, and has become home to novel dapps such as friend.tech which has seen significant traction.

article-image

Certain creditors could be repaid sooner, with one hedge fund exec telling Blockworks it expects a payout by the end of the year

article-image

Busan is South Korea’s second largest city with a population around 3.4 million

article-image

Cyprus granted eToro crypto registration, setting the groundwork for the company to operate crypto services post-MiCa rollout

article-image

Sponsored

These are the best tools and practices you can leverage to defend against crypto market volatility

article-image

The agency alleges around 1,160 customers used the margin product, losing about $8.35 million since Oct. 2021.

article-image

On Thursday, the Securities and Futures Commission issued a statement disavowing any communication with JPEX saying that the platform is unlicensed