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Chris Burniske, a seasoned investor and former employee of Ark Invest, has predicted that most applications will experience growth similar to ChatGPT next year due to the widespread acceptance of cryptocurrencies.
Are Crypto Apps Able to Model Their Growth After ChatGPT's?
The world's most popular Large Language Model (LLM) application, ChatGPT, developed by OpenAI, stands out because of its dedication to creating a highly practical solution. No consumer app had ever surpassed ChatGPT's 100 million users in the short time after its inception, as per Coingape.
Dall.E, Sora, and the platform's voice feature have all contributed to its meteoric rise in popularity over the last year. When it comes to artificial intelligence chatbots, the OpenAI LLM is still head and shoulders above its competitors, including Google's Gemini.
This pattern was the basis for Chris Burniske's prediction that crypto apps will add tens of millions, if not hundreds of millions, of users in the next year. He warned that there would be too much adoption and that people would cry out in frustration. The word will spread by way of infectious Web2 files.
He used the only financialized infrastructure that is "directly intertwined with the social media phenomenon"—the Web3 ecosystem—to back up his prediction.
Many industry innovators see X, in particular, as the reliable platform for sharing information on social media. Burniske argues that, given the platform's millions of users across platforms like X, Telegram, and Facebook, there should be a more streamlined process for onboarding new users.
More eyes are on the sector now than ever before, thanks to the introduction of spot Bitcoin ETF and the green light for spot Ethereum ETF. This could be the long-term spark that Chris Burniske hopes will propel the growth he predicts.
A Minor Obstacle
The capacity of blockchain systems to manage such enormous development is an important consideration, even though this forecast is generally acknowledged as possible. Regarding active smart contract networks, Ethereum is still far and away the leader. Over the years, it has consistently broken down when processing big transactions.
Recently, other highly regarded successors, such as Solana (SOL), have had comparable congestion problems. Even though it has resolved the congestion issues with a significant update published on the mainnet, the likelihood that it can process millions of user transactions simultaneously is limited.
Chris Burniske claims that some blockchain systems, similar to ChatGPT, can support large numbers of users. The durability of these protocols will be shown eventually.
Photo: Microsoft Bing
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