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Ethereum [ETH]’s Joseph Lubin disagrees with Buterin, says “There is so much growth ahead”

Anvita M V



Ethereum [ETH]'s Joseph Lubin disagrees with Buterin; says "There is so much growth ahead"
Source: Unsplash

In a recent interview with CNN, Ethereum’s Co-Founder, Joseph Lubin spoke about the crypto industry and the Winklevoss’s Gemini Dollar. Lubin also offered his opinion on Vitalik Buterin’s words on the growth of the blockchain industry.

During an interview with Bloomberg earlier, Buterin had stated that the growth of the blockchain industry has reached the “ceiling”. He said, “There isn’t an opportunity for yet another 1,000-times growth in anything in the space anymore.”

In response to Buterin’s statements, Lubin said that he held a different view. Even as he expressed his opinion that Vitalik was “brilliant”, he stated that blockchain technology will impact the economic, social and political aspects systems over the next few decades. In Lubin’s opinion, the crypto world is just at the beginning of all that. Moreover, the Co-Founder believes that the technology is still “fairly immature”.

He added:

“There is going to be so much evolution in the space and everything that is an asset right now is probably gonna have representation as a crypto asset at some point in the future. There is so much growth ahead.”

On being asked about what was happening in the crypto industry, with it experiencing a huge rally and sometimes a fall, he said, the huge rally is about people trying to understand the promise the technology offers and also speculators getting a little enthusiastic about the technology.

Adding to his statement, he said:

“The booms actually bring a lot of attention to our space, lots of technologists, entrepreneurs, and consumers. So those are great. We are actually seeing a great amount of activity right now because of the boom that happened.”

Lubin said the company is gearing up in different spheres of the Ethereum ecosystem to witness a “pretty tremendous growth.”

The Co-Founder said that a lot of activity is happening in the gaming industry. According to him, software developers are bringing in really accessible applications. He gives examples of Crypto Baseball and a few card games that are driving a real interest in adoption.

In addition to driving adoption, Lubin feels that the applications are driving the technology in itself. Giving a list of examples of projects like the Fun Fair, Zombie Battle Ground, he explains that these applications are bringing layer two technologies that enable hundreds and thousands of transactions per second. The applications are linked to layer 1 Ethereum for the purposed of security, he said.

Regarding the regulations in the industry, Lubin stated that they were happy with the way regulation was moving in the country and the world, in general.

Speaking about Winklevoss’s ‘Gemini Dollar’ and Paxos’s ‘Paxos Standard’, built on ERC-20 standard, he said:

“This is just one of the many many fundamental components we need in order to build more sophisticated applications and really build out the crypto economy.”

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Anvita Mysore Vadiraj is a full-time content writer at AMBCrypto. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies.


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