13 Blockchain Statements from Joe Lubin in Forbes
Get insights on blockchain development and global economics as Ethereum 2.0 comes into view.
Forbes journalist Michael del Castillo recently interviewed ConsenSys Founder Joe Lubin on a wide range of subjects relating to blockchain and geopolitics as Ethereum 2.0 comes into view. With Ethereum’s Istanbul fork scheduled for December 4th, the tribulations of Facebook’s Libra ongoing, and the Chinese government’s emergent plans to incorporate blockchain and digital currency all taking place under the looming spectre of a global techno-economic shift, signs are evident that the landscape in both the blockchain industry and the wider world is on the verge of change.
Although the entire Q+A is surely worth reading on Forbes, we picked out highlight quotes that offer insight on the state of development on Ethereum 2.0 and blockchain in general, how decentralized technologies will interact with other emergent technology to shape the world of tomorrow, and what China’s recent actions indicate for the world economy of the not-too-distant future.
Here are 13 Quotes on Blockchain from Joe Lubin in Forbes…
On Ethereum 2.0:
“[Ethereum 2.0] is the natural extension of the Ethereum 1.0 platform. It will be realized as a separate network, but there will be a smooth evolution from Ethereum 1.0, both in terms of developer experience and in terms of how activity will flow from Ethereum 1.0 directly onto Ethereum 2.0 in the form of moving tokens and having smart contracts across the two systems that speak to one another. Pretty soon after phase zero of Ethereum 2.0 is stood up, the proof-of-stake mechanism for Ethereum 2.0 — what we call the beacon chain — will be able to finalize blocks on Ethereum 1.0. So there will be this cross-linkage and a bunch of interdependency early on.”
“Ethereum 2.0 will be composed of three major phases: phase zero (the beacon chain), phase one where you hang 1,024 different shards off the beacon chain [this will allow transactions to settle in groups instead of on the entire Ethereum blockchain], and phase two where you turn those shards into not just storage but execution environments, just like the smart contract machine systems on Ethereum 1.0. Phase zero and phase one are not driven by user or developer experience. It’s a bunch of incredibly smart people solving very deep, distributed computing issues. Phase two is very much driven by developer experience.”
“[Blockchain] is a Frankenstein monster, just like the internet and the Web are Frankenstein monsters. It’ll be built through merit, through lots of different really talented people exploring the solutions base, openly collaborating — not 100% openly — but collaborating a lot. And the best there won’t be one best technology because there will be different technologies that are suited to different use cases. It’s moving fast and if you read or are aware of the cathedral in the bazaar, it’s not being built in a top down, control-like fashion. That wouldn’t be as effective as a whole lot of brilliant ants scurrying around and getting collective work done.”
Read 10 other blockchain statements and the rest of the article at the official ConsenSys Blog.
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