ETH to Move to Phase 2 This Year, Co Founder Says

Joe Lubin was one of the speakers at Rise conference in Hong Kong
11 July 2018   1367

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.

Joe Lubin

Co-founder, Ethereum


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.

BitPay to Add Ethereum Support

The company will implement Ethereum support on BitPay Visa prepaid debit cards and allow merchants to accept coin as a mean of payment
17 September 2019   234

BitPay cryptocurrency processing will add support for Ethereum in the coming weeks. Merchants will be able to accept a coin as payment, and users can store it in their wallet.

BitPay is consistently at the forefront of using cryptocurrency to solve real-world problems and offer our global customers the best options to accept and pay with multiple blockchain assets. As one of the largest crypto currencies by market cap and one used by thousands of companies, Ethereum is the next logical choice.

Stephen Pair

CEO of BitPay

The company will also implement Ethereum support on BitPay Visa prepaid debit cards.

It is exciting to see BitPay leading the way in integrating Ethereum into global payment systems. This truly opens up a new world of possibilities for the Ethereum ecosystem, and together we can continue to be a leading innovator for real world use cases for cryptocurrencies.

Vitalik Buterin
Founder and creator, Ethereum

At the moment, the service supports Bitcoin and Bitcoin Cash, and also offers merchants settlements in stablecodes USDC, GUSD and PAX and 12 world currencies.