Home Altcoins News Joseph Lubin on Why Ethereum (ETH) Matters For Trustworthy Infrastructure

Joseph Lubin on Why Ethereum (ETH) Matters For Trustworthy Infrastructure

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Joseph Lubin, Co-Founder of Ethereum on Investopedia stated, “Ethereum is a platform on which you can build deploy and use decentralized applications.  These are applications that don’t have a home on a single computer that are distributed across many computers that enables a more trustworthy infrastructure.

So that different actors who already compete with one another may want to collaborate with one another and can do so on a new kind of shared trustworthy infrastructure.  There are people who are building structures and technological structures similar to the DAO, but, I think those kinds of efforts are slowed or paused, because many people in the space understand that we need to work out the implications with respect to securities laws.

So, I don’t think it is possible that another similar construct will occur at some point soon.  Ideally, it will have its relationships to securities law in different jurisdictions worked out by the people who put that together and offer it.”

For clarity, for those who do not understand DAO? A decentralized autonomous organization (DAO) sometimes known as a decentralized autonomous corporation (DAC) is an organization which functions according to the rules encoded as a computer program. These rules are transparent and it is controlled by organization members and it is not influenced by central government.  The rules are maintained on the blockchain.  The legal status of DAO is still unclear.

DAO does not have a hierarchal structure. The principal-agent dilemma, agent acting in personal interest in top-down companies, an age-old governance issue is thus handled by DAO. Architecturally decentralized.

Investopedia published:  “The Ethereum Business:  Ethereum’s main competitors for businesses investing in a blockchain software platform, according to Gartner Research, include Bitcoin, Ripple, IBM, IOTA, Microsoft, Blockstream, JP Morgan, and NEO.”

Ethereum is continuing to evolve towards their long waited Ethereum 2.0 upgrade. Hopefully, the power for the network to scale well is expected to happen after the 2.0 upgrade.

Worthy to recollect that a game known as crypto kitties slowed down the entire network. Ethereum is looking to cover for wide spectrum use cases than Bitcoin. They are looking to become the platform for all kinds of applications which need to store information safely.  There has been a lot of criticism about the gas fee on Ethereum very often.

For those who are looking to invest in Ethereum:  Coinbase, Kraken, Bitstamp, Gemini, Binance, and Bitfinex are the major exchanges. There are investing apps like Robinhood and Gemini allowing cryptocurrency trading.

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James

James T, a passionate crypto journalist from South Africa, explores Litecoin, Dash, & Bitcoin intricacies. Loves sharing insights. Enjoy his work? Donate to support! Dash: XrD3ZdZAebm988BfHr1vqZZu6amSGuKR5F

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