With the value of Ethereum showing resilience throughout the winter. With the recent cryptocurrency boom, ConsenSys founder Joe Lubin sees this as the reason for Ethereum’s bullish future.
Andrew Fenton, Magazine Editor Cointelegraph spoke to Lubin at the event. Web3 Building Blocks 23 in Tel Aviv Israel To interview about the current state and future of the Ethereum ecosystem.
Lubin compares the past 12 months to the early 2000s when the dotcom boom and boom. And he believes that the same boom may not drive investors in the crypto space in the near future. But it sees the potential for great projects and “Great Innovation”:
“I think we are at a stage where we have built enough infrastructure. And we built scalability, usability, and now we can build more useful usability.”
Despite being a difficult year for the market Instead, Lubin took advantage of the flexibility of the Ethereum ecosystem by exploring what could be created in the nonfungible token (NFT) space specifically.
The ConsenSys founder adds that ETH’s ability to hold its value around $1,200 while some “CeFi” players are attacked is a good reason for the future of the ecosystem.
“It feels like no one wants to sell it for a lower price. And that’s a good thing.”
Lubin also mentioned his belief that keeping Ether in deflation is essential to its value increase over time.
Ethereum is currently gearing up for the Shanghai hard fork, which will have a key feature of enabling the withdrawal of ETH staked on the Beacon Chain, which the Ethereum Foundation developers are aiming for in March 2023.
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