Ethereum News: Ethereum Will Not Going To Fail, Remain Very Significant

ethereum

The previous price trend of the digital currency got many worried. However, Joseph Lubin, whose firm – ConsenSys – incubates Ethereum projects, does not seem that worried. Lubin was present at SXSW 2019 as the Interactive Keynote speaker. While speaking at the event, he shared his view about Ethereum with a live audience.

Lubin said:

Ethereum is not going away. It is not going to fail. It will remain very significant.”

Lubin so much believes in the blockchain project and the digital currency. With the recent launch of Ethereum Constantinople – Ethereum hard fork, – he believes that the project has all it needs to thrive. Ethereum Constantinople is designed to revolutionize the Ethereum network. It is meant to introduce some changes and fix some issues such as scalability.

Ethereum Is the Only Game in Town

There are concerns whether the tokens of Ethereum are securities or not. There are some reasons to be optimistic regarding the future of Ethereum. Recently, Jay Clayton – the chairman of SEC – said based on the Howey framework, digital assets might not be securities. Recently, there were concerns about Ether being security. But this has been dismissed by the SEC. With the U.S sec meeting Ethereum, the digital currency seems to have even gathered a little bullish momentum.

Lubin’s ConsenSys is closely associated with the protocol of Ethereum. The firm has eighty-five Ethereum blockchain engineers creating on a daily basis. Lubin said the tools and projects of ConsenSys are focused on Ethereum. The reason is that Ethereum is the only game in town, he added.

In a statement, he said:

Since the emergence of the ecosystem, there has been some significant increase in the prices of these tokens accompanied by massive corrections. There have also been some bullish Ethereum price predictions. The most notable price correction occurred about 15 months ago. Ethereum price surged by more than 5,000 times than its launch price.”

Ethereum Needs to Scale

One of the major issues of Ethereum is scalability. Ethereum needs to address its scalability issue before it can reach mainstream adoption. At the moment, the network processes about 14 to 27 transactions per second. However, Ethereum has developed technologies such as Layer 2 and Plasma to tackle this issue. These techs are designed to boost the scalability of Ethereum and make the blockchain more useful.

Ethereum (ETH) Price Today – ETH / USD

#NamePrice24H %
2
ethereum
Ethereum(ETH)
$147.85
0.400%

At the time of writing, ETH live price is $136 after an increase of less than two percent over the past twenty-four hours. The current market cap of the digital currency is $14.02 billion and its trading volume over the past twenty-four hours is $3.98 billion.

By the way, websites which direct people to Ethereum online gambling, Ethereum gambling, and Ethereum casinos are making Ethereum more popular.

Carolyn Coley is a blockchain reporter. She joined Smartereum after graduating from UC Berkeley in 2018.

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