The fundamental first phase of the development of the Ethereum ecosystem has been completed, and in 2018 we will see a "second phase" in which the blockchain will expand and mature. This was announced by co-founder Ethereum Joseph Lubin at the Rise conference in Hong Kong, which is taking place these days, Cointelegraph reports.
We're moving into a space where Ethereum can serve as the layer one trust system, and built into Ethereum we’ll have hundreds of thousands of transactions in the layer two systems and we’re going to see that ramified this year.
As an example of such a platform, he cited Plasma technology, designed to scale Ethereum.
Lubin also noted a great many options for using blockchain and said that the distributed ledger technology "offers a true digital world." Also co-founder of Ethereum believes that the blockchain revolution allows to move away from "analogous contexts" and will influence all spheres of life, including "money, personality and reputation".
Unlike the early internet, which started “narrow,” he added, blockchain is starting out with a “very broad” offering for potential applications.
When it came to regulation, Lubin and the other speakers recognized that the sooner the necessary regulatory rules were introduced, the better it would be for the industry. In his opinion, after the recognition of the crypto industry at the state level, there will not be any obstacles for the development of the industry, such as, for example, recently occurred in China, Japan and South Korea.