Joe Lubin: ‘’Everything About Ethereum Needs To Improve’’

Joe Lubin, the co-founder of ConsenSys was a guest on the Chain Reaction Podcast where he stated that Ethereum has some growing pains and that everything about it needs to improve. The latest cryptocurrency news gives you some more details from the interview.

Just as Ethereum managed to outperform bitcoin by increasing more than 6%, Lubin talked on the podcast hosted by Delphi Digital Co-founder Tom Shaughnessy. He explained that ETH 1.0 was just a starting point out that developers were aware that it wouldn’t be scalable. He explained:

 “Growing pains are essential and wonderful. If we didn’t grow to the point that there were pains, it could be argued that we’re moving too slowly as an ecosystem… Certainly, everything about Ethereum needs to improve and there are lots of people that are working to improve virtually everything about Ethereum.”

While the Ethereum co-founder talked about ethereum, he also took some time to say a few words for Bitcoin:

 “Even bitcoin was intended to evolve. Although one could understand the case that it should perhaps evolve more slowly, possibly perhaps even at glacial speeds if you’re building a decentralized  money system intended for the planet maybe you don’t want rapid growth in your technology.”

Joe Lubin also explained that the blockchain ecosystem remains a growing space and different blockchains compete. He stated that some of the projects are happy to compete with Etehreum while others are focusing on marketing rather than being competitive. He pointed out:

‘’So put Tron and EOS in that basket. And both of them kind of taken the approach of ‘raise a bunch of money and fake it till you make it,’ basically. And we’ll see how that goes.”

Despite the tough competition every day, the ethereum co-founder also described the blockchain ecosystem as ‘’collaborative ecosystem since many projects have ‘’close ties to Ethereum. Despite the growing pains, Ethereum manages to distance itself from the entire pack. The collaboration abilities of the platform are what makes the technology among the best. ’’ For the coming altcoin news, Lubin added:

 “But  we all are very friendly pretty much and run into each other at conferences multiple times a year around the world.”