The CEO of ConsenSys and one of the co-founders of Ethereum, Joe Lubin has shared his thoughts on some of the popular blockchains in the ecosystem. He has made it clear that his expectations are quite demanding and he isn’t getting carried away with promises or by market cap.
Speaking on the 51% podcast with the host, Tom Shaughnessy, Lubin explained that while he acknowledges that TRON and EOS have proven to be successful in getting the support of investors, from his point of view, they cannot meet the expectations of their users.
This is a clear sign that in the short term, statistics can change. Lubin explains that the ideology behind these two blockchains is based on raising as many finances as is possible.
“Some projects are certainly intending to be competitive with Ethereum, some projects are focusing on marketing to be competitive with Ethereum – Tron and EOS in that basket – and both of them have kind of taken an approach of ‘raise a bunch of money and fake it till you make it’ basically, and we’ll see how that goes.”
Lubin has clarified thought that Ethereum isn’t an exclusive ‘club’ where the rivals aren’t welcome. But instead, he said that they have collaborated with other rival projects that provide useful tech and legit developments.
“There are other good projects in the space, many of which have had close ties to Ethereum right from the start… It’s an amazingly collaborative ecosystem. There’s certainly lots of competition going on a daily basis, but we all are very friendly.”
During the Blockchain Connect Conference earlier this year, the other co-founder of Ethereum, Vitalik Buterin strongly criticised the competition saying:
“A lot of the time when a blockchain project claims we can do 3,500 TPS because we have a different algorithm what we really mean is we are a centralized pile of trash that only works because we have seven nodes running the entire thing”