Connect with us


Ethereum [ETH] ecosystem is far superior than any other project in the market, suggests Joseph Lubin

Biraajmaan Tamuly



Ethereum [ETH] ecosystem is far superior than any other project in the market, claims Joseph Lubin
Source: Pixabay

With recent developments in the cryptocurrency ecosystem, Ethereum 2.0 is one of the most prominent projects currently under progress.

Joseph Lubin, Co-Founder of Ethereum, recently sat down with Ran NeuNer of CNBC Crypto Trader, discussing the progress of the new project.

Lubin stated that the Ethereum 2.0 system would be called Serenity and it would be released for users in four phases, out of which three will be major phases. The three phases are termed as phase zero, one and two.

He said,

“Phase zero should be delivered within a few months; there are eight teams that all have working code so that’s based on proof-of-stake, which itself that’s Kasper and the teams are now working together to get their code bases to get in sync.”

He also mentioned that there was a functional testnet available, where all teams were trying to get their code in sync. Lubin suggested that phase zero might be releasing in a “few months” and it will be connected to Ethereum 1.0. Ethereum 1.0 and Ethereum 2.0 will be running parallely, once deployed.

Lubin added that presently, there was an option of token sharing from 1.0 to 2.0. However, discussions were going on to develop a two-sharing arrangement between the systems.

During the interview, Lubin also emphasized that he was more concerned with Ethereum’s milestones in the “developer side of things.”

He added,

“My view of the ecosystem is mostly from the developer/builder perspective and so speculators coming in and out of the ecosystem is irrelevant to me.”

Joseph Lubin believes that Ethereum ecosystem is larger than any other system in terms of infrastructure, in terms of developers, and in terms of significant organizations utilizing it. He stated that there were “some really good projects” currently under development. However, they will take them some time to reach the levels of Ethereum 2.0, he added.

A few days back, Lubin had spoken about Ethereum’s market competitors, TRX and EOS, with respect to their functionality. However, he implied that Ethereum was a far superior one.

He revealed,

“Some projects are focusing on marketing like Tron and EOS. Both of them have taken the approach of raising a bunch of money and use the motto ‘fake it till you make it’. There are definitely other good projects in the space and many have had close ties to Ethereum from the start.”

Subscribe to AMBCrypto’s Newsletter

Follow us on Telegram | Twitter | Facebook

Biraajmaan is an engineering graduate who is exploring the ever-changing crypto verse while traversing his passion for cryptocurrency news writing. He is a Chelsea fan and a part-time poet and does not hold any value in cryptocurrencies yet.


Cryptopia: Stolen Ethereum [ETH] funds continues to move; a portion sent to EtherDelta





Cryptopia: Stolen Ethereum [ETH] funds continues to move; a portion sent to EtherDelta
Source: Unsplash

The hacker who stole a mammoth amount of cryptocurrency funds from Cryptopia, a New Zealand cryptocurrency exchange, continues to move to stolen funds in the market. Unlike the previous attempts, this time around the attacker transferred the funds to a decentralized exchange, EtherDelta.

Notably, this is not the first time for a hacker to opt for decentralized platforms instead of a centralized one. Another hack that reportedly took place in Marck 2019 also saw a similar pattern; the attacker who had stolen around $105 million worth of Ethereum and other cryptocurrencies from Coinbene had transferred a portion of the coins to EtherDelta.

According to Whale Alert, at press time, a total of six transactions were made to EtherDelta, approx. 3000 Ether, which was worth $758,509. To add on, a total of 1000 ETH, worth around $251,264 was transferred to another address that was used to hack the exchange. This was followed by another Twitter user, Crypto Shork, ponting out that the hacker made two transactions on EtherDelta.

Notably, a Reddit user, FlashyQpt remarked that this was “an unnecessary amount of effort for very little gain”, considering that it was “very easy” to track these transfers. The Redditor stated, “It’s not unusual to see insane trades happen because the EtherDelta/ForkDelta platform lacks any sort of order matching. ” The user added that hacker was trying to “unmark” the stolen Ethereum coins.

The user went on to state,

The Eth was sent to the EtherDelta contract from this address where it was traded and withdrawn onto this fancy new “clean” one. You can tell that this is the address that is on the other side of the trades because the EtherDelta contract emits a Trade event that shows you all of this.”

Source: Reddit

Source: Reddit

Giraffenmensch, another Reddit user said,

“It’s dumb but a lot safer than using those dogy tumbler services. And I think the hacker is betting on the fact that courts and law enforcement are largely still completely clueless regarding cryptocurrency and might actually fall for it. Also they might do other things, maybe that’s only the first step.”

Source: Reddit

Source: Reddit

Subscribe to AMBCrypto’s Newsletter

Continue Reading