Ethereum Co-Founder Lubin Sees ‘Tremendous Growth Ahead’ for Crypto Industry

 In Altcoins

Joseph Lubin’s took an opposite approach to ETH creator Vitalik Buterin’s recent comment that another 1000x crypto boom is impossible.

Joseph Lubin, the Ethereum co-founder and chief executive officer of ConsenSys, has rebuffed Vitalik Buterin’s highly-debated comments that there will be no new 1,000-times crypto growth in the future. Speaking on CNN Money on Tuesday, Lubin said that he believes the virtual currency market has the potential and capabilities for another significant price rise.

Several days ago, Vitalik Buterin, the Ethereum creator, said that he believes there will be no repeat of the thousand-fold growth previously experienced by the crypto market.

“Vitalik is brilliant, but I would have to disagree with him on that. This is a technology that’s going to impact how economic, social and political systems are built over the next few decades. So we’re really just at the start of this. There will be so much evolution”.

Lubin explained that the 1,000-times growth and the activities of subsequent market speculators are characteristics typical of the period of recognizing every new technology, and the world had seen these processes before. However, blockchain, which is the technology behind cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), has great untouched potential. Blockchain is still immature and subject to future developments, Lubin said. Moreover, distributed ledger technology (DLT) can be implemented in various sectors.

“The booms actually bring a lot of attention to our space, lots of technologists, entrepreneurs, and consumers, so those are great. And we are actually seeing a huge amount of activity right now because of the boom that happened [in 2017]. So we are gearing up in many different niches of our ecosystem to see probably pretty tremendous growth,” Lubin explained.

Commenting on the need for blockchain education among the masses, the Ethereum co-founder noted that average people do not need to understand how DLT works because this is something related to software developers. The general public is interested in how blockchain can help everyday life with tools like the DLT-based decentralized applications (dApps), Lubin explained.

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Lubin is the latest crypto industry leader to comment on Vitalik’s crypto growth opinion, which has become one of the hot topics in the industry these days.

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