ConsenSys Creator: Blockchain Is Much More Complicated Than The Internet And Will Take A Little Longer To Develop

ConsenSys Creator and co-founder of Ethereum, Joseph Lubin, is in today’s Ethereum news for making a bold statement in an interview about the blockchain technology.

According to him, the blockchain technology is much more complicated than the internet and therefore will probably ‘’take a little longer’’ to develop. While talking to German Cointelegraph, Lubin explained how the blockchain technology works and is developing in a very similar way to the web since there are hundreds of projects that can be practically used for humans today.

Lubin continued by explaining how the distributed ledger technology will also be able to ‘’permeate society more than the Internet’’. The DLT will be able to bring us the decentralized internet but we will, of course, have to wait a little longer for the blockchain to develop on such a mass scale.

He said:

”Blockchain projects will enable people to build more things that will come in handy again. That’s how the web was developed. It will probably take a little longer because it is much more complicated. Also, because we work on topics such as digital money, Blockchain will permeate society more than the Internet. Everything will be networked in a Web3.”

ConsenSys was created right before Ethereum was released with one goal only-to build tools and the right infrastructure so a decentralized system can be created in which Ethereum will function and also not focus on controlling the ecosystem bur promoting it.

While explaining how the current internet functions and how the blockchain does as well, he said that the internet today and the nature of the blockchain technology is completely contradictory which enables a ‘’self-determined, sovereign identity.’’