The CEO of Shopify is positive about DeFi.
Shopify, a popular e-commerce site, is riding the cryptocurrency surge. Shopify collaborated with CoinPayments earlier this year. Tobi Lutke, CEO of Shopify, is a major believer in DeFi.
The e-commerce mogul took to Twitter to ask users to suggest viable commercial opportunities within the DeFi community that Shopify could exploit. Shopify has also incorporated cryptocurrency payments into its app. Since 2014, users have been able to shop and pay with Bitcoin, Ether, and other cryptocurrencies.
The Shopify CEO is well aware of the payment industry’s evolution and wants his company to remain ahead of the pack. Sopify, according to Lutke, predates cryptocurrencies and is completely consistent with the principle of decentralization. Shopify is used by over one million companies around the world.
Lutke is interested in learning more about smart contracts and how they are used in the ERC-20 ecosystem. The Shopify CEO is curious about the use of Oracles in the crypto industry, as well as the EIS Uniswap protocol.
The price of Ethereum has reached a new high.
The price of ETH recently hit a new all-time high of $2,143. Many experts say this is linked to the approval of EIP-1559 for the London Hard Fork. EIP-1559 aims to lower the skyrocketing gas fees for ETH transactions. Miners will not be able to choose transactions with higher transaction fees this time. Instead, the system can assign transactions at a fixed rate and reward transaction authentication with a bonus. The miners, however, have objected to this plan, despite the fact that it was accepted by the developers.