Vitalik Buterin, the co-founder of Ethereum has said that the days of 1000x growth as recorded in 2017 in the cryptocurrency sector is gone.
Speaking to a news agency, Buterin said that the awareness of cryptocurrencies and the technology had achieved the highest point when the prices of Bitcoin, Ethereum, BTC and Ripple had surged manifold.
"The blockchain technology is proceeding in a way where there is a ceiling in sight. An average educated person would have heard about blockchain technology at least once in their life. I don't think that there is any scope of another 1,000 times growth in that space anymore."
People started to see the virtual currencies as a possible medium of transactions and it began emerging as an asset class. Buterin said that he will be focussing on the improvement of usability and accessibility of the decentralized applications and decentralized systems for encouraging customers to invest in the cryptocurrencies.
"He will move forward with a motive of attracting customers in a way that they will be interested in real applications of the cryptocurrencies and they will start treating them as application of real economic activity," he said.
"The simple shift from cash to cryptocurrencies can already be difficult and it could also be technically challenging for most of the people. Then requiring users to utilize MetaMask to process gas on a dApp through the Ethereum mainnet could be highly complicated for most," he added.
He pushed the idea of improvements on protocol and dApps for increasing the popularity of the digital currencies.