Joseph Lubin, Co-founder of Ethereum and the founder of blockchain company Consensys, recently said that Ethereum would expand by 1,000x in the next 2 years. Keeping with his optimism about cryptocurrencies, this was a significant statement made by him about the growth of Ethereum.
He was blown away by the size of the crowd and the interest in blockchain during ConsenSysSXSW 2019 in Austin. During the event, Lubin, an interactive keynote speaker at South by Southwest (SXSW), spoke of how early the days of Ethereum development were, and the plans to make Ethereum even bigger than what it is now.
He further stated,
“Ethereum 2.0 is launching soon. We have 8 teams working currently on Phase 0 of the four phases of the roadmap. We will further develop the base layer of the Layer 2 expansion solution, which will be in the next 18- at least 1000 times in 24 months. Once this completes, Ethereum will continue to expand. Since the start of the ecosystem in 2009, Ethereum has seen many incredible rises in the price of the tokens followed by many corrections. One of the significant corrections was done in 2018, which was 5,000-times more valuable than when ETH was initially launched.”
The blockchain is indeed in its early days, and large scale implementation could be years away, maybe even decades. Lubin believes blockchain will have a big role to play in the global economy. When the blockchain fully ramifies, and in 10-20 years the economy will probably be 10x as large.
Ethereum has suffered quite a bit during the crypto winter and now languishes at around the US$ 140 region, down from its 4-figure highs of the bull run of 2017. Even 2018 was tough for the entire crypto market, Ethereum experienced a fall of 76% from January 2018 to November 2018. However, the price of the Ethereum price is predicted to reach a price of US$ 1,400 due to the expansion in the project’s developments. In the next 2 years, the company has plans to switch to a Proof of Stake consensus algorithm. And, with key enhancements like Casper and Sharding, long-term investors are generally optimistic about Ethereum cementing its place in the future crypto market.
Will this affect the ethereum price positively?
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