The Co-founder of Ethereum, the second largest cryptocurrency by market capitalization- Joseph Lubin in a recent interview said the next crypto market surge that will come along with mass adoption.
He said it had recurrently occurred sundry times since Bitcoin was invented a few years back in the blockchain ecosystem since 2009. When emphasizing this, he mentioned that there had been six occurrences of what’s currently happening in the cryptocurrency market on the chart and each has exponentially blown beyond comprehension, with one more epic than the previous.
He added that we get overwhelmed when our different teams arise with new projects coming up with new scalability technologies: all these are as a result of the big bubbles bursting and new entry into the ecosystem. He also expressed how each of these bubbles brings attention to our ecosystem, bring developers, entrepreneurs, money, create more value and also brings the prospect of building vital infrastructure.
Now that there seems to be a downward movement in value across boards, Joe Lubin calls attention to another surge coming up. He analyzed how the internet, the dot-com bubble, was back then in the 1990s. Things were so slow that there was sort of one rise, one collapse and then steady growth over time. But now, the internet has gotten an ever-increasing steady growth will billions on board after it’s value has been seen.
Why Does Lubin think It Will Be Ethereum?
He says most likely the cycle in the market currently will drive some coins into extinction. In his words, he says:
“It’s not all that will survive. I think the future of the decentralized world wide web is hundreds or thousands of decentralized protocols. Some of them will be like Ethereum, and Ethereum is orders of magnitude bigger than anything else, and it’s growing faster than everything else. So it will be significant going forward… We’ll have trusted transactions, automated agreements, smart software objects on Ethereum and networks like Ethereum. We’ll have decentralized storage, decentralized bandwidth, decentralized heavy compute and many other protocols that are interoperable with one another. And that’s being built out right now.”
The mass adoption according to Joe Lubin will affect every sector of the economy. The banking industry is a sort of corporate sector as one prong pumping in a huge sum of money and the outrageous number of world wide web decentralized users being the other prong. With prongs ever increasing, everyone will be on board soonest.