Electronic frontier Foundation founder Evan Valence, who is also the chief operating officer of ethereum, has been bullish about the value of a blockchain.
The company has been investing heavily in blockchain projects.
The ethereum ecosystem is expected to grow by 300 percent over the next two years.
“There’s a $1 billion market cap of all cryptocurrencies and I’m optimistic that Ethereum will be the next big one,” Valence told CNBC in a phone interview.
He added: “This is a very strong year for Ethereum.”
Ethereum, which is a decentralized online platform, has attracted a number of blockchain startups and investors.
Valence also said that ethereum will likely surpass $1 trillion in market cap by 2021.
His predictions have not been entirely wrong.
Valance believes that Ethereum is going to become a billion dollar market cap within two years, and he believes the ethereum platform is going through a major change in the next year or two.
“We’re going to see Ethereum overtake Bitcoin as the currency of choice for people,” Valance said.
He also thinks that e-commerce will also be one of the major areas where the blockchain platform is taking off.
Valentine believes that the blockchain is going from being a niche technology to becoming a mainstream technology.
Ethereum, or the Ethereum blockchain, has the potential to become the next major cryptocurrency, but it’s still early days for Valence and his company.
Bitcoin, the virtual currency used to buy goods and services online, was created in 2009.
It’s also widely accepted as a legitimate payment system.
Valents prediction comes as blockchain companies continue to grow and expand.
Bitcoin has seen a rapid growth in the last few years, especially after it reached $9.2 billion in market capitalization in November.
Other cryptocurrencies, including Ethereum, have also risen dramatically in value.
The cryptocurrency was first created in 2008.
Valences company, the e-ventures, is now worth $7.5 billion.
He said that it’s possible that eventure companies will surpass $10 billion in revenue by 2021, which would make it the second largest cryptocurrency.
“Bitcoin is going up and Ethereum is up and we’re seeing that growth and the market cap is going in all directions,” Valentines said.
“I believe Ethereum will probably be the biggest one in a couple of years.”
He added that eventures is a major company and that the eventures ecosystem is “very strong.”
Valentues team, which consists of several dozen employees, is developing an ethereum app, which will be used to trade e-currency.
Valuable Ethereum assets will be distributed to its developers through a smart contract, which Valents said will allow users to store their e-currencies in a decentralized ledger.
“It’s a lot like a blockchain but with the smart contract,” Valents added.
Valens company will also develop a blockchain-based mobile app that will be made available on iOS and Android devices.
The mobile app will allow people to buy and sell e-credits.
The technology has the capability to be used for online payments, in e-gift cards, for goods and to track an individual’s spending habits.
The team is currently working on the mobile app, and Valents believes it will be ready in time for the end of the year.