Ethereum Co-Founder Joeseph Lubin: Proof of Stake Within Year, Infinite Scalability on Horizon $ETH

In the face of uncertainty, Ethereum Co-Founder Joseph Lubin reassures the community that proof of stake is near, and that infinite scalability is on the horizon.

The security and scalability of Ethereum is under stress. ASICs challenge the chain’s decentralization, CryptoKitties are testing its throughput, and other projects are intent on usurping Ethereum’s position.

Vitalik Buterin: Ethash ASICs Not a Threat to Ethereum
Related Story: Vitalik Buterin: Ethash ASICs Not a Threat to Ethereum

In the April core developer meeting, Vitalik and others discussed expediting the release of Casper, the foundation of Ethereum’s proof of stake protocol, to combat the threat of ASICs. However, no clear timeline for the release was provided. Sentiment from the team made it appear that it could range anywhere from six months to several years.

Ethereum Co-Founder Joseph Lubin provides some clarity into the launch date.

In a March, during the Web Summit conference Lubin asserts that proof of stake will launch within the year:

“In the next year we are going to replace proof of work with the much more efficient proof of stake algorithm.”

For such a monumental change a year is blazing fast development. The change to proof of stake would decentralize network and render Ethereum ASICs obsolete.

Not only that, Lubin also says that infinite scalability is on the horizon:

“Several different Scalability mechanisms such as state channels, Sharding, and Plasma will allow Ethereum to scale infinitely in the next few years.”

The confidence of the core developer team is reassuring in a time where dozens of other projects seek to outpace Ethereum.

If Ethereum wishes to maintain its position as the leader of “web 3.0” then hitting these key development milestones will prove critical.

Meet Joseph Lubin, Co-Founder of Ethereum and Blockchain Powerhouse Consensys
Related Story: Meet Joseph Lubin, Co-Founder of Ethereum and Blockchain Powerhouse Consensys

Cover Photo by Clément M. on Unsplash

Commitment to Transparency: The author of this article is invested and/or has an interest in one or more assets discussed in this post. Please take that into consideration when evaluating the content within this article.

Did you like this article? Join us.

Get real-time updates and breaking news.

Join Us on Telegram

Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before making any investment decisions. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.

Mitchell Moos


Mitchell Moos

Mitchell is the founder of the Blockchain Society, a student group at the University of Washington that studies blockchains and cryptocurrencies. He is also the controller at a startup that researches and develops mining software.

View author profile

Follow the latest projects added to the ICO Database

We’re tracking 941 projects from all around the globe.

Be the first to comment

Leave a Reply

Your email address will not be published.