Ethereum, the world’s second largest crypto, has seen significant growth over the years, in terms of overall coin upgrades and performance.
In fact, the Ethereum Alliance in 2017 also promised to encourage the use of Ethereum blockchain technology as an open standard to empower all enterprises. It’s been three years now, but has this alliance reached its peak? Joseph Lubin, founder of ConsenSys, believes that.
At the recent Ethereum Summit, Lubin argued that the alliance has had an impact on the ecosystem, living up to all the hype and claims. He has stated,
“It’s hard to see that from the outside. But from the inside, there are a number of amazing high-value activities. The main mission of this alliance is to find the specifications. What should be built around them and it is invaluable for making ETH so accessible. “
Currently, the increase in ETH2 is the center of attraction. The ETH community and the entire ecosystem have been waiting for this update.
Is ETH2 really the big wave (big wave) next in the ETH ecosystem?
From the looks of it, ETH2 does look like the next big thing that could happen to the ecosystem. The shift from PoW to PoS is a much needed step given the fact that ETH prioritizes security and reduces energy waste [miner]. Most importantly, these improvements are not only beneficial for users, but also developers, according to Lubin. He added,
“For developers, this will feel like an operating system upgrade, and it’s an organic transition to more capabilities. We will solve the problem and bring new features. ”
Decentralized Finance [DeFi] is another big sector that is growing fast at the moment. Built on Ethereum, the fact that the DeFi market saw a strong recovery following the March market crash proves it to be a promising sector.
With this, DeFi has started to move from being a niche market to mainstream finance. Further commenting on this rapid growth, Lubin noted,
“All this will lead to more granular governance in the world and we will be able to create our own tokens across various projects. I think it will be an empowering future where people and small organizations have more economical institutions. “