Ethereum Cofounder explains what you need to know before buying Crypto


  ConsenSys Founder Joseph Lubin (L) and ConsenSys Chief Marketing Officer Amanda Gutterman

ConsenSex Founder Joseph Lubin (L) and ConsenSys Chief Marketing Officer Amanda Gutterman Steve Jennings / Getty Images for TechCrunch [19659003] For anyone considering investing in cryptocurrencies, the first thing you need to know is that people working in the blockchain epicenter do not care much about the dollar value of Bitcoin and other digital tokens.

That was the general feeling that resounded among blockchain workers at the TechCrunch Disrupt conference in San Francisco last week

A prominent member of this group is Joseph Lubin, a co-founder of Ethereum, the second cryptocurrency for market capitalization at the moment. Lubin is the managing director of ConsenSys, a software company based in Brooklyn that deals with the creation of applications based on the Ethereum platform. but the price of the Ethereum token – as well as other digital currencies – is not something to worry about a long time.

"We try not to focus too much on the price of tokens and speculation," Lubin Observer said last week in San Francisco. "To a large extent, these tokens relate to supply and demand and how they are used.The demand can be exacerbated if there are many speculators in the ecosystem, I think that's what we see on an annual basis." [19659006] From a technical point of view, cryptocurrency is just one of the many applications built on top of the blockchain. Bitcoin was the first blockchain-based application to gain general interest, paving the way for many others to follow. At that point, Lubin said that the growing interest in blockchain technology is in part due to the cyclical boom in encrypted prices. "The excitement of investors pushes the prices of encryption upwards, eh the higher prices bring more value into the blockchain ecosystem – in the form of money, entrepreneurial and technical talent and consumers", he said.

By popular definition, Blockchain is a decentralized digital ledger that records transactions, such as payment in the case of cryptocurrencies. However, most people without a relevant technical background find the concept difficult to understand.

The good news, according to Lubin and his colleagues, is that all is well.

"Today almost everyone uses Internet-based products on a daily basis, but not everyone understands how computers and TCP / IP protocols work: Blockchain is similar in this way, as blockchain-based applications have fully penetrated our lives, people will understand "Amanda Gutterman ConsenSys marketing manager, explained to Observer.

Some of these applications have already reached consumers. For example, at the beginning of this year ConsenSys launched a multimedia application called Civil with the objective of decentralizing journalism. Unlike a traditional news site where each article is stored on a centralized server, Civil records each news article on an Ethereum network so that the text can never be deleted by any single part.

"The idea that it would be possible for someone who does not like what is written about him to remove an entire publication from public opinion has been really disturbing." The incorruptible Blockchain registers speak of this. : "Maria Bustillos, editor of Popula, a news site hosted on the civilian network, told Observer in April.

More recently, Civil has collaborated with the Associated Press to see how large international news lines will work.

"If possible, I would compare [blockchain] to the Internet and the web revolution in the years & # 90; where in the beginning there was a lot of idealism because there was no money attached to the protocols And then it started filling up with competitive companies, and then the stock market was involved in. It was then that you saw the boom and the failure and the madness of the dot com, "said Lubin. "At the moment, we have a crazy amount of activity in the blockchain ecosystem that is building new fundamental infrastructures, it's a sort of engine that" will probably lead the next group of speculative activities. "

  Blockchain insiders discuss this you need to know before investing in Cryptocurrency

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