53% of Americans think crypto will be ‘the future of finance,’ poll finds


– The figure of 53% in a complete national sample rises to 68% between 35 and 44 years. Crypto usage is huge and will skyrocket fueled by strong enthusiasm from young adults.

– Survey marks launch of StarkNet, a new platform for making crypto apps ‘as widespread as smartphone apps’

– Blockchain bandwidth is already overwhelmed; The survey results raise questions about how it will meet expectations.

NEW YORK, March 29, 2022 /CNW/ — A majority of Americans are convinced that cryptocurrencies will be “the future of finance,” according to a new opinion poll.

Results of a survey conducted by StarkWare to mark the launch of StarkNet

About 53% of respondents to the national survey subscribed to this opinion. Among the 25-34 year old age group the figure reached 68%, and among the 35-44 year old it was 61%.

Nearly one in five respondents, 17%, said they have invested in cryptocurrencies, with the proportion rising to 28% among the 25-34 demographic.

Those who have invested are constantly reviewing and adjusting their assets. 82% have at least one cryptocurrency tracker on their phone. Exactly half of them say they “manipulate or modify” their holdings on a daily basis, and 27% of investors do so several times a day. Only 14% of active crypto holders let a week go by without making any changes.

“This survey shows how pervasive crypto has become, while also indicating how big it will soon be,” he said. Eli Ben Sassonco-founder and president of StarkWare Industries, which commissioned the investigation.

“We see that young Americans, those who will soon shape the economy, are especially attuned to cryptocurrencies. It is an important idea that they are investing heavily, and overwhelmingly convinced that cryptocurrencies will be ‘the future.’”

StarkWare commissioned the survey to mark the launch of the new StarkNet platform, which aims to make it easy and cost-effective for developers to build blockchain applications, a key requirement for making cryptocurrencies a part of everyday life for the global public. general. Until now, the implementation of crypto applications has been slow because a crisis around blockchain bandwidth has acted as a deterrent.

Uri Kolodnyco-founder and CEO of StarkWare, commented: “We wanted to research public opinion when we launched StarkNet, to get an idea of ​​how much the general public expects to use crypto in the coming years. The results are exciting, but also disturbing.

“They highlight a huge enthusiasm for cryptocurrencies and show that blockchain is creaking under the weight of current usage. Unless we start working smarter, blockchain simply won’t be able to keep up with the growing demand.”

StarkNet is a platform for developers to create cryptographic applications, started by StarkWare and will be completely decentralized so that in the future it will be owned by everyone and no one, just like the Internet.

StarkNet uses an advanced math-based compression system so that the Ethereum blockchain can fully protect applications while only a fraction of their information is added to the chain. In blockchain jargon it is known as Layer 2.

Transaction fees, which increase based on a supply and demand formula as blockchain usage increases, are dramatically reduced. These fees have prevented the development of crypto apps for many everyday uses, and Kolodny predicts that by making them small, StarkNet will lead to “a blockchain construction boom and make crypto apps as widespread as smartphone apps.”

The survey showed that environmental concerns about blockchain are widespread. Just over a third of respondents (34%) said that reducing the carbon footprint of crypto is important to them and would make them more likely to use it. For the 25-34 and 35-44 age groups, the figure increased to 49% and 39% respectively.

When asked about non-fungible tokens, NFTs, around 38% of respondents said they would be “excited” to use them if they were sustainable. Among 35-44 year olds, 52% were excited about the prospect of sustainable NFTs.

Kolodny commented: “We expected to detect concern about the carbon footprint of cryptocurrencies per transaction and enthusiasm to reduce it, but not to the massive levels we found.

“We were pleasantly surprised that people seem to understand the environmental challenge of cryptocurrencies.

“StarkNet represents one of the most important steps yet on the road to making the blockchain more sustainable. Our scaling technology greatly reduces electricity use per transaction and will complement other initiatives that are underway to address environmental impact.” of cryptocurrencies. The energy normally used to mint a single NFT can cover the minting of around 12,000 via StarkNet.”

StarkNet is called a Layer 2 scaling solution because it performs transaction computation outside of the blockchain (“Layer 1”) and then sends a large batch of transactions onto the chain through a single terse test. Powered by a mathematical system called STARK, co-invented by Ben-Sasson and other researchers, it retains all the security benefits associated with transactions directly at Layer 1.

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About StarkNet

StarkNet is a platform that enables any developer in the world to build highly scalable blockchain applications. It was built by StarkWare Industries, a software company for four years. StarkNet is based on a class of cryptographic technologies, known as STARK proofs, that were invented by the co-founder and president of StarkWare. Eli Ben Sassonwith other computers.

In more technical language, StarkNet is a general purpose Composable Validity (‘ZK’) rollup package. StarkNet has been deployed on a public testnet since june 2021, which supports permissionless deployment of tens of thousands of contracts. StarkNet Alpha has been live on the Ethereum Mainnet since November 2021and has attracted the attention of thousands of developers around the world.

About the survey

The survey, conducted by OnePoll, questioned a national sample of 2,000 American adults.

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Results of a survey conducted by StarkWare to mark the launch of StarkNet

Results of a survey conducted by StarkWare to mark the launch of StarkNet

Bringing blockchain to everyone: (L to R) Uri Kolodny and Eli Ben-Sasson, co-founders of StarkWare.  The company has created StarkNet, a platform that is expected to make crypto apps 'as widespread as smartphone apps' (Natalie Schor/StarkWare)

Bringing blockchain to everyone: (L to R) Uri Kolodny and Eli Ben-Sasson, co-founders of StarkWare. The company has built StarkNet, a platform that is expected to make crypto apps ‘as pervasive as smartphone apps’ (Natalie Schor/StarkWare)

StarkNet, the platform that will make blockchain accessible to everyone.  An illustration of the technology and its key benefits.

StarkNet, the platform that will make blockchain accessible to everyone. An illustration of the technology and its key benefits.

(PRNewsfoto/StarkWare)

(PRNewsfoto/StarkWare)

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