Cryptocurrency market will see crash and then consolidation, Ethereum co-founder says

[bsteadman]

• A number of alternative cryptocurrencies have rallied substantially in recent weeks as investors look beyond the most prominent cryptocurrency bitcoin.

• Ethereum co-founder Charles Hoskinson raised concern about "unrealistic" cryptocurrency projects entering the space.

CNBC
by Ryan Browne
1/9/2017

Excerpt:

The cryptocurrency market will strengthen after bitcoin alternatives that lack substance have failed, a former chief executive and co-founder of Ethereum said.

"My personal opinion is that we're going to see a consolidation after a crash," Charles Hoskinson told CNBC in an interview Friday. Hoskinson now runs blockchain research firm IOHK, but was previously in charge of Ethereum, which develops the underlying technology for the cryptocurrency ether (also known as ethereum).

A number of alternative cryptocurrencies — including Cardano, a cryptocurrency overseen by Hoskinson's company — have rallied substantially in recent weeks as investors look beyond the most prominent cryptocurrency bitcoin. Ripple's XRP, for instance, temporarily overtook ether as the second-largest cryptocurrency in December.

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https://www.cnbc.com/2018/01/09/cryp...o-founder.html