- Cuban states that smart contracts have given rise to NFTs and DeFi.
- Mark Cuban stated that he is a huge fan of Ethereum Merge.
American billionaire and entrepreneur Mark Cuban has always been outspoken on crypto-related issues, describing himself as a supporter of the Ethereum merger. He predicted the dramatic transformation of the Ethereum blockchain.
In a Fortune interview, he said that,
“I’m a fan of fusion, and I think the issue of energy use is important.”
He is optimistic about the merger, but also mentioned that it will take some time and that it is uncertain when it will rise. According to the decision, the merger will take place on September 15 and Ethereum will transition from Proof of Work to Proof of Stake, which is expected to reduce power consumption in the network by 99.9%.
Cuban about Ethereum
Cuban continued, saying that he remains very optimistic about Ethereum, “I think there will be applications to drive usage.”
Cuban often cited network applications and use cases as the motivation behind his support when talking about his fondness for Ethereum. He discussed his interest primarily in smart contracts, which are sets of computer code that execute a set of instructions on the blockchain.
In March 2021, he claimed that smart contracts fundamentally changed everything. When smart contracts came into being, they gave rise to NFTs (or non-fungible tokens) and DeFi (decentralized finance). This is what made it unique. This is what attracted me. Because of this, it matches the Internet a lot.
Besides other cryptocurrencies like Bitcoin and meme-inspired Dogecoin, Cuban also owns Ether. Few NFTs and Investments in the blockchain Startups, many of which focus on improving Ethereum, are also included in his portfolio.
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