Wave Field Surpasses Ethereum and Other L2 Chains in Monthly Active Users

02/27/2023 05:07 • AI Insights • 89 views

According to reports, according to Cuy Sheffield, the head of encryption at Visa, a payment giant, who disclosed data on social media, Wave Field has been widely used in emerging markets. In addition, from January 2022 to January 2023, the number of monthly active users of Wave Field has been higher than the sum of monthly active users of Ethereum, Polygon, Optimism and Arbitrum. In addition, the number of active users of stable currency payment in the three Ethereum L2 chains, Polygon, Optimism and Arbitrum, increased by more than 500% year on year, indicating that it is still in the early stage of stable currency payment.

Person in charge of Visa encryption, the payment giant: Since January last year, the number of monthly active users has been higher than the sum of Ethereum, Polygon, Optimism and Arbitrum

Analysis based on this information:

Visa’s encryption head, Cuy Sheffield, has disclosed that Wave Field, a cryptocurrency widely used in emerging markets, has surpassed Ethereum and other layer 2 (L2) chains in the number of monthly active users. From January 2022 to January 2023, the total number of active users of Ethereum, Polygon, Optimism, and Arbitrum has been lower than the number of monthly active users of Wave Field.

This is a significant milestone for Wave Field, which has been gaining traction in countries with unstable currencies and financial systems. Emerging markets often struggle with financial inclusion and access to traditional banking services, making cryptocurrencies an attractive alternative for the unbanked and underbanked populations.

Furthermore, the report highlights that the number of active users of stable currency payment in Ethereum L2 chains, including Polygon, Optimism, and Arbitrum, has increased by over 500% year on year. This suggests that stable currency payment is still in its early stages and has room for further growth.

Despite the widespread adoption of cryptocurrencies in emerging markets, the regulatory landscape remains uncertain. Governments and financial institutions are still grappling with how to regulate cryptocurrencies while balancing innovation and consumer protection. Visa’s interest in the cryptocurrency space signals a growing recognition of its potential in the mainstream financial sector.

In conclusion, Wave Field’s surpassing of Ethereum and other L2 chains in monthly active users is a significant achievement in the cryptocurrency industry, especially in emerging markets. However, the industry is still in its early stages, and regulatory uncertainties need to be addressed to unlock the full potential of cryptocurrencies in the mainstream financial sector.

Keywords:

1. Emerging Markets: Wave Field’s success in disrupting traditional payment systems is especially significant in emerging markets with limited financial inclusion.

2. Stable Currency Payment: The growth in active users of stable currency payment suggests that this form of cryptocurrency use is still in its early stages and has room for further growth.

3. Regulatory Uncertainty: The regulatory landscape surrounding cryptocurrencies remains uncertain, which can limit their mainstream adoption and growth potential.

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