Crypto Industry Continues To Attract Developers At Record Pace Explains Ben Horowitz

Cryptocurrencies are experiencing the highest developer activity since the dawn internet, according to Ben Horowitz, the co-founder of Andreessen Horowitz.


Cryptocurrencies are experiencing the highest developer activity since the dawn internet, according to Ben Horowitz, the co-founder of Andreessen Horowitz.

Developers trooping into the crypto world

The cryptocurrency investor revealed that his company hasn’t seen this level of developer activity currently present in the crypto world since the advent of the internet over three decades ago.

During a conversation at TCDisrupt, he pointed out that cryptocurrencies and their underlying technology should be viewed as the new computational platform.

Horowitz added that new developments spring up every decade or two that revolutionize an industry and that distributed ledger technology is the disruptor of our decade

Horowitz pointed out that cryptocurrencies work in similar fashion to previous slow and complex platforms, but offers clients absolute transparency and trust – an idea previously thought impossible.

He believes that just like the smartphones and computers, cryptocurrencies and blockchain will find a way to become more efficient and would find ways to compete massively against existing platforms.

Horowitz added that the cryptocurrency world is a new one for developers as it enables them to build new applications such as money. With crypto and blockchain, developers can program law, money, and digital property.

He added that there is no need to trust the government or any other platform since the trust of distributed ledger technology is built on the infallibility of math.

Horowitz’s view of more developers flocking into the cryptocurrency space echoes what Aragon co-founder Luis Cuende said in July last year. Cuende promised that a new wave of developers are working with blockchain startups as they seek to learn the coding language of money.

Horowitz not a fan of ICOs

The crypto investor also talked about ICOs which he compared to the dot-com bubble. He stated that:

Somebody at the office said the other day: ‘Not all ICOs are bad but all bad companies have an ICO. I think that’s right.

He pointed out that companies in the early nineties added dot com to their name, a move that helped them record massive gains. The market experienced a huge sell-off afterward as they didn’t contribute any genuine growth.

He stated that some companies in the world are now doing the same thing with Blockchain, adding the word to their companies without actually contributing to the growth of the industry.

Andreessen Horowitz immersed in the crypto world

Ben Horowitz’s company has been making investments in the cryptocurrency world. A few months ago, the VC firm raised $300 million for its first-ever fund dedicated to crypto companies.

The company has been using those funds to invest in everything from early-stage coins and tokens to later-stage networks like bitcoin or ethereum. They plan to hold the investments for a decade or more.

The firm has revealed that its approach towards the cryptocurrency market is a patient and a long-term one as they believe in the potential of the technology.

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