Ethereum’s Joseph Lubin said that with the fundamental “layer one” in the Ethereum ecosystem now established, 2018 will see “layer two” systems ramify and mature. Lubin’s comment came from his speech at the Rise[1] conference in Hong Kong Tuesday, July 10.
During a panel discussion with Village Global’s Erik Torenberg and Arbor Ventures’ Melissa Guzy, the Ethereum Foundation’s co-founder Lubin said that we are now moving into “phase two” of blockchain systems, “where we will see real scalability”:
'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.”
In Lubin’s vision, an elaborated “layer two” infrastructure for the blockchain[2] ecosystem would preserve “layer one” - an underlying “trust layer” secured by the radical decentralization of the core blockchain. New technologies would be added to this first layer, with various on-, side-, or off- chain mechanisms enabling greater scalability.
Panel discussion with Joe Lubin, Erik Torenberg and Melissa Guzy at the Rise conference
As an example, Lubin mentioned Plasma[3], Ethereum’s on-chain scaling solution[4], which was introduced back in August 2017 by Vitalik Buterin[5] and Joseph Poon - the creator of Bitcoin’s own “layer two” solution, dubbed Lightning Network[6].
Lubin’s co-panelist Torenburg agreed with the suggestion that this year is one of transition for the blockchain space, adding that “if 2017 was the year of the [initial coin offering] ICO[7], then 2018 is for the building and delivery of products.”
Lubin
