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Ethereum News

Founder of ConsenSys explains how Ethereum has evolved and its future

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Founder of ConsenSys explains how Ethereum has evolved and its future

Joseph Lubin, the founder of ConsenSys and co-founder of Ethereum (ETH), has aired his thoughts on how Ethereum and its ecosystem have changed over time.

The Ethereum co-founder was speaking during an interview with Tom Shaughnessy, the co-founder of Delphi Digital, a crypto-focused research boutique.

Lubin said that from the beginning they intended to create something different from Bitcoin. Using similar technological principles, they intended to create a platform that would decentralize applications capable of evolving with technology.

He added that they always wanted Ethereum 1.0 to be the starting point. It is enabled to be primarily a better form of money although they avoid trying to place it as a money system. It has helped experiments in many different spaces such as in the supply chain, energy, banking, insurance, and healthcare industries. It has helped launch tokens and enabled the DeFi revolution.

“Growing pains are important and wonderful” Lubin said, adding that other projects are focusing on marketing aimed at being competitive to Ethereum. He mentioned EOS and TRON in that bracket saying that they have taken such approaches to raise money as well as fake it till they make it.

In his opinion, Ethereum is the best technology by far, and he feels that the project is moving at a faster pace. It will not be a challenge for Ethereum to retain an ecosystem lead and at least keep up with technology.

Talking about Ethereum 2.0, Joseph Lubin noted:

“DFINITY, Cosmos, Tezos, and Polkadot are likely to release something interesting within the year, it seems like serenity phase 0- Ethereum 2.0 is likely to come online towards the end of 2019.”

Besides, he said there are eight teams tasked with building out clients. A number of them have already had their testnets.

Jason Lee is a writer for various crypto publications and manages a small team on Medium. His love of technology and inquisitive nature set him up with crypto back in early 2016 and he hasn’t looked back since. In his spare time, Jason enjoys rock climbing and wakeboarding.

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