Mark Cuban is reliving the internet boom when he looks at crypto| The 'consolidation phase’ is coming
Mark Cuban is an American billionaire entrepreneur. He is the owner of NBA team Dallas mavericks and co-owner 2929 entertainment LLC. His current worth is 4.3 billion dollars being one of the main sharks on shark tank.
Cuban is also a preacher of cryptocurrency dogecoin. A huge part of his wealth is invested in dogecoin. He even accepts it as a mode of payment in the transactions related to his basketball team Dallas mavericks. He is one of the most influential people in the industry. He is also the bestselling author of How To Win At The Sport Of Business. Cuban has also been the winner of GQ men of the year in 2006.
In a recent interview with Fortune Cuban expressed his opinion oncryptocurrency’sboom and its comparison with a similar evolution in IT field which was internet and the dotcom boom in 2000s. Cuban tweeted “Crypto is going through the lull that the internet went through,”. “The chains that copy what everyone else has will fail,” he also added “We don’t need NFTs or DeFi on every chain.” Cuban through his tweet was trying to bring focus upon how the crypto currency industry is entering the imitation phase.
The concept of decentralised NFTs is attracting more and more people e
veryday but that has also led to blockchains copying other blockchains which are already doing well. Cuban compared this with 2000s when the same was happening with website domains with startups copying ideas of other startups and launching identical products. “Consolidation phase next,” Cuban said this in his interview with fortune, where copycat blockchains will die out. “There will be blockchains that, rather than die, get acquired or merge”. Cuban, who made his wealth when internet was in its initial stages in 90s now majorly invests in crypto businesses. He believes that the biggest opportunity in blockchains and crypto currencies is for them to use contracts or certain sets of code to set instructions on blockchain.
The companies and businesses that implement this will have much more advantage than others “The chains that realize this will survive.”Once the account is verified you can then start trading throughCoinbase exchange.The exchange accepts 18 different fiat currencies and provides more than 100 crypto currencies to buy and sell such as Bitcoin, Ethereum, Dogecoin etc.
Coinbase is an American easy-to-use cryptocurrency exchange which is trusted by over 73 million users across the globe in more than 100 countries with 255 billion dollars in assets on the platform. Coinbase first came out in 2012 and since then it has regulated billions of transactions, making itself one of the oldest and trustable crypto exchange.
The crypto currency exchange has a wide variety of cryptocurrencies to buy and sell. To be able to start trading on the