Joseph Lubin Believes in Ethereum’s Growth

One of the creators of ethereum and the founder of ConsenSys, Joseph Lubin, believes that the fall in the value of a digital asset is not a marker of the weakness of the entire project, CNN reports.

According to him, there is no need to constantly monitor the dynamics of the cryptocurrency rates, since the value of this digital asset does not reflect the true value of the blockchain project. Now the ethereum blockchain is the largest network for smart contracts, which continues to grow at a rapid pace, Lubin explained.

Lublin emphasizes that the cryptocurrency ecosystem continues to evolve. At the moment, ethereum offers users three of its products. This is the Truffle platform for developing high-performance applications. Also, users of the ethereum blockchain can use the infrastructure to service the Infura nodes, which processes all requests for popular applications. In addition, the developers have launched a wallet for storing ETH and other assets produced on the ERC-20 standard.

At the same time, ETH continues to rapidly fall in price, losing more than 90% of its value since January of this year. According to CoinMarketCap, the coin is now trading at $ 111.5 and continues to show a decline. But this fact does not reduce the level for optimism Lubin.

Now the main stream of new blockchain users is moving from Asian countries. Many of the most influential banks work with digital currency developers and use its ecosystem for their financial operations, Lubin explained.

He had previously repeatedly commented positively on the potential of the ethereum blockchain. The founder of ConsenSys believes that distributed registry technology will be the driver of the development of the entire modern innovation market.