Co-Founder Joe Lubin: We’re Moving Into Phase Two of ETH Blockchain

Co-Founder Joe Lubin: We’re Moving Into Phase Two of ETH Blockchain

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July 10, 2018 by Sandra Onyeiwu
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According to co-founder Joe Lubin, Ethereum’s blockchain is moving into phase two sometime this year. Joe Lubin’s comment came from his speech at the Rise conference in Hong Kong Tuesday, July 10. According to Lubin, “layer one” in the Ethereum ecosystem now established, 2018 will see “layer two” systems ramify and mature. ‘We’re moving into a space
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According to co-founder Joe Lubin, Ethereum’s blockchain is moving into phase two sometime this year.

Joe Lubin’s comment came from his speech at the Rise conference in Hong Kong Tuesday, July 10. According to Lubin, “layer one” in the Ethereum ecosystem now established, 2018 will see “layer two” systems ramify and mature.

‘We’re moving into a space where Ethereum can serve as the layer one trust system, and built into Ethereum we’ll have hundreds of thousands of transactions in the layer two systems and we’re going to see that ramified this year.”

As an example, Lubin mentioned Plasma, Ethereum’s on-chain scaling solution, which was introduced back in August 2017 by Vitalik Buterin and Joseph Poon – the creator of Bitcoin’s own “layer two” solution, dubbed Lightning Network.

Lubin also offered his wider vision of the implications of the emerging space, considering that blockchain offers a “natively digital world” of interaction in trustless contexts that he believes is now set to “ramify in virtually every industry.”

 

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