Billy Gurley, a Venture capitalist is betting on Ethereum’s success only after the community of this crypto network won him over.
In conversation with Bloomberg he stated, “I have to say I was swayed by the arguments of the ethereum crowd,” In an interview on Wednesday he further added, “And so, I’ve taken a personal position — not something to Benchmark.”
Gurley is a general partner at the Benchmark, a Silicon Valley VC firm. Meanwhile, Ethereum fans managed to impress the capitalist. He mentioned the fans to be way for pragmatic than the others in the crypto space.
Referring to the network’s shift to Ethereum 2.0 he said, “They seem to be open to change and are basically making several changes which I think will bring down fees and will be very beneficial.” The shift will bring more security and sustainability.
Gurley states, “The developer community is clearly in the ethereum camp.” Mentioning the governance, environmental and social factors Gurley states, “I think there’s a ESG benefit once they move to proof-of-stake versus bitcoin,” “It seems to me to be the smarter way to play if you’re going to have crypto exposure.”
The protocol of “proof-of-stake” undertaken by Ethereum is said to be far more conservative than the “proof-of-work”. The latter method is used by Bitcoin to validate and confirm transactions.
Meanwhile Gurley has said that he, “isn’t a crypto maximalist and wouldn’t argue that everyone should have exposure to digital coins.”