Home News Ethereum The Sky is Not Falling Says Ethereum Co-founder

The Sky is Not Falling Says Ethereum Co-founder

December 24, 2018 12:00
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Joseph Lubin, one of the co-founders of Ethereum and ConsenSys, said that Ethereum has a very bright future. The comments came as a big relief to investors in the Ethereum ecosystem, as the ongoing bear market has eroded the hopes of many.

Lubin said, “The sky is not falling. From my perspective the future looks very bright. I remain excited about scalability solutions that are available now, or are becoming available for use in early 2019, core #Ethereum protocol development that is accelerating, and the continued maturation of the token economy, which will see many exciting consumer utility tokens and tokenized security launches in the new year.”

Recently, there was talk of ConsenSys laying off a significant amount of their staff, due to the bear market. Addressing those reports, Lubin said, “Some within ConsenSys whose roles have been eliminated recently are looking to fill other roles at ConsenSys. This is a rebalancing of our activities and workforce.” He added, “We continue to invest in external projects, and continue to hire for internal projects that remain core to our forward looking business. We actually hired around fifteen people in the last week or so, and have job descriptions that we are currently hiring for.”

At the time of the layoff, the employees were sent a mail which read, “Excited as we are about ConsenSys 2.0, our first step in this direction has been a difficult one: we are streamlining several parts of the business including ConsenSys Solutions, spokes, and hub services, leading to a 13% reduction of mesh members.”

Hitting out at people who were “gleeful” about the bear market, the founder of Ethereum clarified, “Peaking into 2019, if you could see the landscape through my eyes, you’d have to wear shades. Best of the season to all of our supporters and detractors out there. Good time to acknowledge that ultimately we are all in this together. Wishing you all a great 2019. Clarification for those who are parsing the wording rigorously: The crypto-bottom of 2018/2019.”

He further stated that it is the bottom of 2018 and that people had no cause to panic without reason.

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