Tag Archives: ethereum

Joseph Lubin: Blockchain Will Permeate Society More Than The Internet

Joseph Lubin: “Blockchain Will Permeate Society More Than The Internet”

He also said Ethereum is "Much Better" than Bitcoin

ConsenSys founder Joseph Lubin once again made clear his optimistic but cautious vision of the future of crypto. In an interview for the German news portal T3N, the also co-founder of Etherum expressed that blockchain technologies can redefine the future of technologies towards a more user-friendly orientation.

Web 2.0 vs Blockchain or Web 3.0

According to Lubin’s vision, nowadays the famous Web 2.0 focuses on protecting the interests of content and technology providers. For Lubin, the current business model looks at consumers as mere products. The blockchain technologies represent a revolution as they imply a necessary philosophical change in the business world:

“These Web2 business models are effectively in control, and as you know, they treat us like a product. They try to get a lot of information out about us so they can charge more for the product. And they have found ways to use man’s evolutionary drives so that they can make us dependent on their system, so that they can sell us more often as a product. Blockchain, on the other hand, enables a self-determined, sovereign identity. We can write our identity on blockchain systems and control it from our side of the browser. Identity will become very important in Web 3.”

For Lubin, it is still too early to talk about the possibility of implementing truly influential applications. Blockchain technologies do not yet have the necessary maturity for this type of development; however, he stressed that it is very possible that these advances will occur in a “not so distant future”:

“There are some projects moving in that direction, but it is extremely early in the development of technology. We build thousands of different components, building blocks, tokens, protocols, exchanges, and tools for identity and reputation. At a point in the not so distant future, when these systems are sufficiently scalable, we will be able to build a decentralized social network.”

 

Jose Lubin: The Future Looks Promising, But It Will Take Some Time

Several experts have considered blockchain technologies as the most important technological breakthrough in history since the appearance of the Internet, however for Lubin it is important to note that although it took more than two decades for the Internet to have the level of social influence it has today, blockchain technologies could take longer because of its high level of complexity:

“Blockchain is growing exponentially: There are hundreds of projects that are already practical for people. And they will enable people to build even more things that will be practical again. That’s how the web was developed. It will probably take a little longer because it’s much more complicated. Also because we work with issues like digital money, Blockchain will penetrate society more than the Internet. Everything will be networked in a Web3.0.”

 

ETH is “Much Better” Than BTC

The interview ended with a small comparison between Ethereum and Bitcoin. As expected, the co-founder of Ethereum considers ETH to be a better choice than the “Crypto King.” He also hopes that in the future the value of the token will be similar to that of Bitcoin:

“(ETH) is also cheaper and faster to transport values with it. It’s much better money than Bitcoin. I assume that it will be used much more than money … We expected it to level off at about the same amount as Bitcoin.”

Original article written by Jose Antonio Lanz and posted on Ethereum World News

Article reposted by Jeffrey Sloe

Visit MarketHive to learn more: http://markethive.com/jeffreysloe

Ethereum ETH Becomes First Base Currency on Bithumb’s Decentralized Exchange DEX

Ethereum (ETH) Becomes First Base Currency on Bithumb’s Decentralized Exchange (DEX)

Earlier on today, the South Korean exchange of Bithumb, launched its very own decentralized exchange.

In the news announcement, the team at Bithumb welcomed users to its platform effective October 15th, 2pm (UTC + 8).

The full announcement was as follows:

 

Dear user, Bithumb’s Decentralized Exchange (DEX) was officially launched on October 15, 2018 at 2 pm (UTC+8)! Bithumb DEX was launched by Hong Kong-based Blockchain & Fintech BGEX Ltd. Working with blockchain service innovator OneRoot Network, we are committed to discovering and listing more valuable cryptocurrencies. Thank you for your trust and support in Bithumb DEX!

 

Free Transactions For a Month and Airdrops

To further stimulate trading action on the new decentralized exchange, the team at Bithumb has launched the following initiatives to reward users of the new platform:

  • Free transaction fee for one month (October 15th to November 15th, 23:59)
  • Users will only pay Gas Fees on the Ethereum network
  • A total of approximately $ 100,000 (500 ETH) in rewards will be distributed by Airdrop
  • Airdrops will be based on trading activities from the 15th of October, till midnight, the 30th of October
  • Coins for the airdrop to be distributed to the top 1,000 traders who have traded for the 2 weeks mentioned above
  • Traders must have more than 1 ETH worth in trade volume for one of the following coins of DENT, INS, POA20, RNT and WTC to qualify for the airdrops
  • Payments will be announced on the 1st of November and will commence on the same day
  • Airdrops to be made at random using any of the digital assets of DENT, INS, POA20, RNT and WTC

 

Ethereum As the First Base Currency

Further analysis of the decentralized exchange yields the fact that Ethereum is the first and only base currency on the platform. The use of Ethereum has been made easier by integrating the DEX with MetaMask. A screenshot of the 10 digital assets paired with Ethereum can be found below. (Digital assets that are part of the airdrop, have a blue A besides them.)

Article posted on Ethereum World News

Written by John P. Njui

Posted by: Jeffrey Sloe

Visit MarketHive to learn more: http://markethive.com/jeffreysloe