BTC: $4,084.76 +0.39%
ETH: $140.68 +0.30%
XRP: $0.31979 +0.15%
MARKETCAP: $141,646,723,983
24H VOL: $33,663,027,489
BTC: 51%

Ethereum Co-Founder: ‘We Let Price Take Care of Itself’

Beginners Guide to Ethereum

Ethereum co-founder Joseph Lubin was interviewed on CNBC news today. The interview focused on the continued success of the world’s second-largest cryptocurrency and gave insight into what Ethereum’s developers think of the coin’s price fluctuations.

Lubin maintained that the Ethereum team’s focus is and continues to be on the technology and not token prices, saying:

“Our company consensus, and all the people in the Ethereum ecosystem, our software developers, we focus on building infrastructure. We let the price take care of itself.”

Ethereum’s price reached an all time high in mid-January of this year. Since that time, Ethereum, along with most of the world’s major cryptocurrencies, has fallen considerably. To date, the token is valued at $439.

Despite Ethereum’s declining price, Lubin remains optimistic about the company’s future. He reminded viewers that it was only a few years ago that Ethereum was trading between 20 to 25 cents stating,  “General fear-greed dynamics tend to cause overshoots and corrections … we’re in great shape.”

Lubin described the Ethereum network as being in an “era of scalability”. He explained that a second layer is being added to Ethereum’s layer one “trust layer”. This new layer to the Ethereum network will consist of state channels, sidechains and plasma mechanisms.

The Ethereum team is also working to up network speeds to tens or even hundreds of thousands of transactions per second—an upgrade which has been in high demand by Ethereum users in light of the company’s exploding popularity.

Lubin concluded the interview stating:

“If the price is high or if the price shoots up and down, it’s actually great for us because it draws attention to our ecosystem. It draws entrepreneurs, it draws technologists, and all of that interest drives fundamental value.”

Join the NEW Unhashed Telegram or Follow Unhashed on Twitter for the Latest Cryptocurrency News Updates!

Bitcoin Bitcoin $4,084.76 +0.39%
Ethereum Ethereum $140.68 +0.30%
XRP XRP $0.32 +0.15%
Litecoin Litecoin $60.93 +0.82%
EOS EOS $3.75 -0.68%

Subscribe for the latest cryptocurrency news

Please enter a valid email address.
Something went wrong. Please check your entries and try again.

More Crypto News

Best Tether Wallets in 2019

January 14, 2019

Tether (USDT), the world’s most popular stablecoin, is designed to give users the stability of…

The 5 Best Stellar Wallets In 2019

January 3, 2019

Stellar and its XLM token were first launched in 2014 by Ripple co-founder Jed McCaleb.…

Best Bitcoin Cash Wallets in 2019: Picking a Bitcoin Cash Wallet for Your Needs

December 6, 2018

Bitcoin Cash (BCH), the controversial project forked from the original Bitcoin client, is now the…

Subscribe for the latest cryptocurrency news

Please enter a valid email address.
Something went wrong. Please check your entries and try again.
Scroll Up