Ethereum Co-founder Believes ICO Future Still Looks Bright

Ethereum Co-founder Believes ICO Future Still Looks Bright

Cryptocurrency
August 29, 2018 by Sandra Onyeiwu
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Ethereum co-founder Gavin Wood discusses Ethereum and how the ICO markets will evolve, with Bloomberg’s Lisa Abramowicz, Joe Weisenthal and Caroline Hyde. One issue many people see with Ethereum and the cryptocurrency industry, in general, is the ability, or the lack thereof, to scale to meet increasing user demands. Ethereum, in particular, has seen issues
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Ethereum co-founder Gavin Wood discusses Ethereum and how the ICO markets will evolve, with Bloomberg’s Lisa Abramowicz, Joe Weisenthal and Caroline Hyde.

One issue many people see with Ethereum and the cryptocurrency industry, in general, is the ability, or the lack thereof, to scale to meet increasing user demands. Ethereum, in particular, has seen issues with scaling. When asked questions regarding scaling Wood replied stating;

“The scaling is definitely something that people have been working on for some time…and we are starting to see the first bits of innovation…Ethereum is trying to push forward in the scaling solution space with this notion of sharding, which is something that is very common in data bases where basically you can split up the blockchain in different bits.”

Wood explained that the market downturn is actually a good thing as far as production and development of products goes, saying that “when a fairly substantial interest cycle is going, we find that there’s quite a lot of noise and it’s not always so easy to tell between the people that just want to be in the space and the people that are truly down for the technology.”

When asked about his opinion on what could spark interest in Initial Coin Offering (ICO)s since interests in ICOs has collapsed, many of which are built on Ethereum’s network. Wood notably mentioned that “ICOs still have a while to run,” but also noted that “there’s going to be a lot of evolution for ICOs down the line.”

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